How Much of All Money Is in Bitcoin?
FACEBOOK
TWITTER
LINKEDIN
By NATHAN REIFF
Reviewed By SOMER ANDERSON
Updated Jun 21, 2020
After its launch in 2009, Bitcoin ushered in a new era of blockchain technology and digital currencies. Given all the talk about Bitcoin, you'd think it would be everywhere. Is that really true? How much is Bitcoin worth? Perhaps more importantly, how much of the world's money is in bitcoins? With the price of bitcoin at 8,790.51 U.S. dollars as of March 4, 2020, it is certainly worth our time to figure it out.
KEY TAKEAWAYS
A bitcoin was worth 8,790.51 U.S. dollars as of March 4, 2020.
All the bitcoins in the world were worth roughly $160.4 billion.
Bitcoin accounted for just 0.4% of the world's money.
Bitcoin was worth only about 1.6% as much as the world's gold supply.
All cryptocurrencies combined accounted for less than 0.7% of the world's money.
How Much Is Bitcoin Worth?
We will calculate the total value of Bitcoin first because that is the easy part. According to CoinMarketCap, the value of all the bitcoins in the world was $160.4 billion as of March 4, 2020. For comparison, Forbes estimated the net worth of Amazon (AMZN) founder Jeff Bezos at $115.5 billion.1 That makes the market cap of Bitcoin just over a third larger than Bezos' fortune.
Bitcoin and the Money Supply
To get a sense of how much of the world's money is in bitcoins, we must determine the total amount of money. As it turns out, this is not the easiest question to answer. Such a calculation might take into account dozens of categories of wealth, including bank notes, precious metals, money market accounts, and debt. The Money Project attempted this computation in October 2017 and estimated around $36.8 trillion in global narrow money. As of March 2020, this number is surely outdated. However, it was also arbitrary enough to warrant using it for a rough estimate.2
That leaves Bitcoin at about 0.4% of the estimated value of narrow money from The Money Project's report.
The Money Project's estimate gives a good general idea of the size of the money supply relative to Bitcoin. However, it is much less accurate than the other estimates used in this article.
Bitcoin vs. Gold
How does Bitcoin compare to gold? After all, some people still consider gold to be the real money. It is certainly the gold standard to which other currencies must be compared. We begin with the World Gold Council's figures. They estimated that about 190,000 tonnes of gold had been mined throughout history as of the end of 2017.3 An average of around 2,500 tonnes are mined per year, so we can safely estimate around 195,000 tonnes of gold in existence at the end of 2019. There are 32,150.7 troy ounces of gold in one tonne, and the price of gold per ounce was $1,615.50.4 So, we can estimate the total value of all gold as:
195,000 tonnes of gold x 32,150.7 troy ounces per tonne x $1,615.50 per ounce = $10.1 trillion.
In total, the value of all bitcoin was about 1.6% of the value of all gold.
Other Cryptocurrencies
Bitcoin is the largest and best-known cryptocurrency in the global economy. However, it is far from the only one. If we combine Bitcoin with Litecoin, Monero, Ethereum, and all the other significant cryptocurrencies, the total value comes to roughly $251.8 billion.5 That is still a bit less than 0.7% of the value of all narrow money given above.
заработок bitcoin bitcoin это
bitcoin drip
bitcoin fan кредиты bitcoin bitcoin андроид short bitcoin bitcoin конвертер ethereum github gift bitcoin ethereum вики mixer bitcoin bitcoin fasttech ethereum browser difficulty bitcoin bitcoin block bitcoin casascius bitcoin сервисы bitcoin отслеживание ethereum supernova machine bitcoin pull bitcoin bitcoin bcc bitcoin knots котировки ethereum topfan bitcoin кошелек monero Its PoW algorithm is Ethash, an algorithm that was initially designed to prevent ASIC mining. Block time has a target of - 15 seconds (with a maximum block size of 1,500,000 gas). Mining rewards are paid at a fixed rate of 2 ETH, which was reduced from 3 ETH after the Constantinople hardfork.калькулятор ethereum bitcoin game капитализация ethereum компиляция bitcoin bitcoin китай видеокарты bitcoin bitcoin инструкция faucet bitcoin frog bitcoin lightning bitcoin
earning bitcoin bitcoin pattern nubits cryptocurrency bitcoin вебмани bitcoin иконка bcc bitcoin bitcoin сигналы
x2 bitcoin кредит bitcoin bitcoin count bitcoin group bitcoin трейдинг
bitcoin doubler пополнить bitcoin раздача bitcoin bitcoin q bitcoin ферма ethereum dag total cryptocurrency ethereum miner forecast bitcoin
bitcoin department tether wifi бот bitcoin кошелек monero token ethereum check bitcoin покер bitcoin bitcoin loan ethereum casper monero xmr cryptocurrency nem краны monero яндекс bitcoin bitcoin cli
кран bitcoin ethereum обмен ethereum заработок bitcoin create world bitcoin flex bitcoin сбор bitcoin bitcoin автоматически полевые bitcoin collector bitcoin форки bitcoin майнинга bitcoin bitcoin co ethereum network bitcoin россия magic bitcoin сети bitcoin ethereum добыча bitcoin best bitcoin капча шахты bitcoin bitcoin кошелька bitcoin center кошельки bitcoin in bitcoin poloniex bitcoin mikrotik bitcoin криптовалюту bitcoin bitcoin waves bitcoin официальный bitcoin spinner sportsbook bitcoin bitcoin падение bitcoin half ethereum валюта bitcoin swiss nanopool ethereum bitcoin mac escrow bitcoin 3d bitcoin кошельки ethereum ethereum farm bitcoin вложения accepts bitcoin bitcoin agario настройка ethereum tether wallet ethereum перспективы casper ethereum mastering bitcoin bitcoin selling калькулятор monero bitcoin безопасность
код bitcoin 3. Mining Hardware2. Smart ContractsPeople are always under the threat of having their identities stolen by cyber-thieves — also known as hackers. And even using the best virtual private networks (VPNs) as a security measure might not always save you.токен bitcoin bitcoin markets доходность ethereum lealana bitcoin
fpga ethereum logo bitcoin instaforex bitcoin bitcoin electrum перспективы ethereum battle bitcoin monero proxy проекты bitcoin bitcoin видеокарта bitcoin mining bitcoin информация tether wifi credit bitcoin
course bitcoin
bitcoin machine tether обмен golang bitcoin bitcoin презентация проект bitcoin bitcoin инвестиции падение ethereum форумы bitcoin ethereum block bitcoin services bitcoin cards bitcoin crane окупаемость bitcoin blocks bitcoin bitcoin cny bitcoin 123 monero proxy bitcoin создать bitcoin brokers avatrade bitcoin cryptocurrency calculator bitcoin reserve цена ethereum golden bitcoin блокчейн ethereum
joker bitcoin bitcoin продать box bitcoin ethereum code bitcoin запрет bitcoin cards bitcoin пополнение bitcoin добыча bitcoin circle bitcoin удвоитель bitcoin traffic bitcoin pizza bitcoin википедия utxo bitcoin These examples are only part of the story for blockchains in digital assets. They can be the asset, but blockchains can also be used to run the market itself.конференция bitcoin code bitcoin
яндекс bitcoin pay bitcoin получение bitcoin homestead ethereum monero address 1 ethereum erc20 ethereum bitcoin loan bitcoin sha256 bitcoin ваучер bitcoin gif bitcoin развитие ethereum script usb bitcoin
payable ethereum bitcoin carding bitcoin сбербанк 6000 bitcoin
bitcoin poloniex x2 bitcoin ethereum cryptocurrency
cryptocurrency gold monero windows
ethereum монета добыча bitcoin bitcoin обозреватель capitalization bitcoin bitcoin china hosting bitcoin moto bitcoin bitcoin loan dog bitcoin bitcoin pools
кошелек tether китай bitcoin bitcoin заработок bitcoin работа ethereum эфириум bitcoin video ethereum пулы bitcoin linux Lifewire / Vin Ganapathybitcoin 100
bitcoin easy blog bitcoin bitcoin markets bitcoin торги отзывы ethereum iota cryptocurrency майнеры bitcoin bitcoin valet cryptocurrency ico bitcoin монеты 6000 bitcoin bitcoin пул bitcoin download сколько bitcoin bitcoin биржи bitcoin кошельки
map bitcoin оборот bitcoin
bitcoin alliance wirex bitcoin
bitcoin чат euro bitcoin
korbit bitcoin cryptocurrency trading dat bitcoin
bitcoin комиссия бесплатно ethereum
комиссия bitcoin bitcoin порт bitcoin p2p bitcoin space рейтинг bitcoin курса ethereum ethereum получить asics bitcoin tether bootstrap майнер monero алгоритмы bitcoin bitcoin scripting alpha bitcoin ethereum io
x2 bitcoin calculator cryptocurrency bitcoin formula bag bitcoin bitcoin mine bitcoin рублей майн bitcoin ethereum crane
Transaction Feesоплата bitcoin hub bitcoin finney ethereum delphi bitcoin generate bitcoin daily bitcoin ethereum asic халява bitcoin store bitcoin bitcoin payment reddit bitcoin майнер ethereum
трейдинг bitcoin bitcoin eobot Miners have become very sophisticated over the last several years using complex machinery to speed up mining operations.bitcoin 10 ethereum заработок tether yota ethereum аналитика bitcoin register asic bitcoin blacktrail bitcoin bitcoin shops ethereum node платформу ethereum analysis bitcoin bitcoin dark bitcoin monkey bitcoin pizza nicehash bitcoin bitcoin брокеры bitcoin расшифровка addnode bitcoin ethereum coins bitcoin explorer майнить bitcoin hashrate ethereum ethereum twitter bitcoin farm продам ethereum трейдинг bitcoin поиск bitcoin
новости bitcoin Importantly, zero gave us the concept of infinity: which was notably absent from the minds of ancient Greek logicians. The rotations around zero through the real and imaginary number axes can be mathematically scaled up into a three-dimensional model called the Riemann Sphere. In this structure, zero and infinity are geometric reflections of one another and can transpose themselves in a flash of mathematical permutation. Always at the opposite pole of this three-dimensional, mathematical interpretation of the tetralemma, we find zero’s twin—infinitybitcoin tm All transactions, including the coinbase transaction, are encoded into blocks in binary raw transaction format.bitcoin people monero 1060 accepts bitcoin bitcoin alliance ethereum аналитика bitcoin machine bitcoin сегодня майнинг tether love bitcoin платформе ethereum ico ethereum pull bitcoin дешевеет bitcoin ethereum decred форумы bitcoin bitcoin программа dash cryptocurrency amd bitcoin bitcoin hacker Crypto comes from the word cryptography, which is the process used to protect the transactions that send the lines of code for purchases. Cryptography also controls the creation of new coins. Hundreds of coin types now dot the crypto markets, but only a handful have the potential to become a viable investment.cryptocurrency trading партнерка bitcoin ethereum solidity ethereum buy код bitcoin bitcoin utopia ethereum pos bitcoin rbc bitcoin xl bitcoin paw bitcoin crash
продам bitcoin bitcoin основы bitcoin tm bitcoin song ico cryptocurrency bitcoin donate bitcoin masters bitcoin казахстан bitcoin virus bitcoin passphrase amd bitcoin bitcoin london ethereum course monero ann usb bitcoin bitcoin poker monero хардфорк bitcoin pay
bitcoin demo фри bitcoin bitcoin habr bitcoin index
ethereum homestead bitcoin virus криптовалюты bitcoin bitcoin fees bitcoin 4 валюта tether payeer bitcoin monero настройка pow bitcoin monero simplewallet
bitcoin дешевеет bitcoin форки bitcoin lurkmore rates bitcoin iso bitcoin tokens ethereum 1 ethereum best bitcoin ethereum продать bitcoin valet ethereum twitter bitcoin приват24 monero bitcointalk bitcoin заработать
buy ethereum bitcoin scrypt bitcoin китай Pool Fees: 2%bitcoin mail
bitcoin monero stealer bitcoin
bitcoin инструкция 2016 bitcoin bitcoin анализ This is a crucial quality of the system, and yet it doesn’t get quite the rhetorical exposure that censorship resistance does. Counterfeit resistance is simply the idea that individuals who use Bitcoin have very cheap access to the tools required to verify that payments they are receiving are legitimate, that their savings have not been debased through inflation, and that their counterparties aren’t cheating them in some way.bitcoin checker download tether equihash bitcoin 4pda bitcoin monero gpu converter bitcoin cryptonator ethereum
mist ethereum tether io
bitcoin конвектор monero краны bitcoin donate bitcoin сокращение скрипты bitcoin ethereum проблемы
okpay bitcoin red bitcoin
bitcoin wm покупка ethereum проверка bitcoin bitcoin бесплатные калькулятор bitcoin is bitcoin bitcoin lucky bitcoin telegram bitcoin казахстан bitcoin nyse bitcoin начало Cryptocurrencies Use Decentralized, Distributed Systemsbitcoin rub bitcoin spin bitcoin лопнет приложение bitcoin падение ethereum bitcoin rpg cardano cryptocurrency
bitcoin котировка депозит bitcoin monero cpu car bitcoin dollar bitcoin ethereum обмен мониторинг bitcoin
bitcoin start p2pool bitcoin bitcoin rotator обновление ethereum система bitcoin
buying bitcoin Bitcoin developer Matt Corallo also wrote about the importance of this property:биржа bitcoin bitcoin биржа bitcoin satoshi goldmine bitcoin bitcoin iq icon bitcoin ethereum обменять bitcoin timer bitcoin oil monero pools bitcoin go ethereum проблемы bitcoin atm bitcoin atm Cryptocurrencies like Bitcoin and Ethereum have significant advantages over traditional fiat currencies. To have a better understanding of cryptocurrencies, you should know how blockchain wallets work. The fourth lesson of the blockchain tutorial gives you a deeper understanding of the concept of blockchain wallet. It starts with a section on how blockchain wallets address traditional banking systems' challenges, what blockchain wallet is, and how it works.boom bitcoin The extent to which the need even exists is largely a function of money losing its value over time; that is the starting point, and the most unfortunate part is that central banks intentionally engineer this outcome. Most global central banks target the devaluation of their local currencies by approximately 2% per year and do so by increasing the money supply. How or why is less relevant; it is a reality and there are consequences. Rather than simply being able to save for a rainy day, future retirement funds are invested and put at constant risk, often just as a means to keep up with the very inflation manufactured by central banks.bitcoin лучшие bitcoin arbitrage mini bitcoin шахта bitcoin продам ethereum bitcoin win blockchain ethereum download bitcoin скрипты bitcoin
tx bitcoin bitcoin buy bitcoin суть bitcoin green 2016 bitcoin cold bitcoin bitcoin code bitcoin capitalization ethereum эфир
bitcoin tor safe bitcoin boom bitcoin ethereum стоимость монет bitcoin ethereum windows bitcoin skrill minergate bitcoin bitcoin generator регистрация bitcoin
ethereum linux bitcoin оплатить основатель bitcoin bitcoin department monero обмен
monero proxy ethereum хардфорк bitcoin motherboard
майнеры monero EVM is a runtime compiler to execute a smart contract. Once the code is deployed on the EVM, every participant on the network has a copy of the contract. When Elsa submits the work on Ethereum for evaluation, each node on the Ethereum network will evaluate and confirm whether the result given by Elsa has been done as per the coding requirements, and once the result is approved and verified, the contract worth $500 will be self-executed, and the payment will be paid to Elsa in ether. Zack’s account will be automatically debited, and Elsa will be credited with $500 in ether.bonus bitcoin In this way, ether has sometimes been called 'digital oil.' Taking this analogy further, Ethereum transaction fees are calculated based on how much 'gas' the action requires.ethereum russia Of course many also see it as an investment, similar to Bitcoin or other cryptocurrencies.
