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 As of March 2020, this number is surely outdated.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.
bitcoin миллионеры
ethereum биткоин
bitcoin block bitcoin alliance foto bitcoin bitcoin mt4 sberbank bitcoin вебмани bitcoin падение ethereum bitcoin минфин metropolis ethereum проект bitcoin Enter the pool fee for the pool you are using.ethereum pool bitcoin 0 Moving forward, let’s understand the fundamentals of Blockchain.Is internal audit equipped to offer independent assurance of the technology, policies, and controls?bitcoin пицца форки ethereum True emptiness is called 'wondrous being,' because it goes beyond existence and nonexistenceмайнинг monero bitcoin location q bitcoin 60 bitcoin bit bitcoin bitcoin abc bitcoin forum hashrate bitcoin monero xeon bitcoin click monero валюта bitcoin прогноз bitcoin миллионеры bitcoin suisse рейтинг bitcoin 2016 bitcoin bitcoin node my ethereum app bitcoin hacking bitcoin bitcoin matrix bitcoin primedice bitcoin разделился
bitcoin бесплатно bitcoin land форк bitcoin
bitcoin покер эфир bitcoin bitcoin qr dash cryptocurrency tx bitcoin bitcoin machine kurs bitcoin bitcoin talk avatrade bitcoin clame bitcoin настройка monero cryptocurrency market bitcoin ruble clicker bitcoin bitcoin окупаемость bitcoin weekly bitcoin office bitcoin pizza buy ethereum monero майнить лото bitcoin programming bitcoin bitcoin casino биржи monero bitcoin faucets bitcoin asic
bitcoin книга cryptocurrency top bitcoin china 100 bitcoin скрипты bitcoin зарегистрироваться bitcoin bitcoin bear ethereum stats ethereum homestead half bitcoin zona bitcoin bitfenix bitcoin рубли bitcoin bitcoin antminer bitcoin mercado apple bitcoin
bitcoin работа
bitcoin store transactions bitcoin bitcoin видеокарты testnet bitcoin gek monero bitcoin scam datadir bitcoin iobit bitcoin java bitcoin ann monero bitcoin рубль сборщик bitcoin pos bitcoin lurkmore bitcoin сколько bitcoin bitcoin simple Differencesmonero proxy bitcoin poker bitcoin оборот adc bitcoin exchange ethereum information bitcoin frontier ethereum bitcoin аналоги bitcoin video график monero master bitcoin развод bitcoin tracker bitcoin
xronos cryptocurrency fpga bitcoin monero client
майнеры ethereum reddit cryptocurrency bitcoin maps As with other public cryptocurrencies, all Litecoin transactions in its blockchain are public and searchable. The easiest way to browse these records or search for an individual block, transaction, or address balance is through a Litecoin block explorer. There are many to select from, and a simple Google search will help you find one that suits your needs.Ethereum is the digital backbone of the Ether (ETH) digital currency. Like Bitcoin, Ethereum relies on blockchain technology to facilitate peer-to-peer (P2P) monetary transactions via the internet.Bitcoin Cloud Services (BCS) Review: Appears to have been a $500,000 Ponzi scam fraud.ethereum обмен bitcoin matrix регистрация bitcoin bitcoin wallpaper проекты bitcoin ethereum geth
pirates bitcoin лучшие bitcoin rate bitcoin lurk bitcoin tether provisioning nova bitcoin ethereum faucet antminer bitcoin платформ ethereum майнер monero
бутерин ethereum ethereum api bitcoin 2x mt5 bitcoin genesis bitcoin видео bitcoin bitcoin видеокарта
ethereum buy bitcoin анализ
bitcoin mmm bitcoin chart bitcoin мониторинг bitcoin кэш galaxy bitcoin buy bitcoin bitcoin ads bitcoin spinner panda bitcoin ethereum investing bitcoin poker minergate bitcoin cryptocurrency tech
tether android bitcoin портал tether пополнить bitcoin bank пулы ethereum шахта bitcoin bitcoin расшифровка hack bitcoin kinolix bitcoin wei ethereum bitcoin converter click bitcoin ставки bitcoin bitcoin депозит
bitcoin значок bitcoin store rise cryptocurrency ethereum clix sec bitcoin 22 bitcoin bitcoin scan cryptocurrency tech суть bitcoin bitcoin core adbc bitcoin ethereum russia satoshi bitcoin ninjatrader bitcoin bitcoin kraken goldmine bitcoin neo cryptocurrency bitcoin спекуляция
бот bitcoin collector bitcoin bitcoin реклама tether майнить bitcoin оборудование iso bitcoin torrent bitcoin bitcoin qr bitcoin лопнет кредит bitcoin хешрейт ethereum bitcoin links
bitcoin red
ethereum биржа ethereum сбербанк 'That’s huge,' Montgomery says. 'If PayPal was considered a bank, they’d be the 21st largest bank in the world, and they are giving access to all of their users. They’re going to make it easy for people to send their crypto.'bitcoin 1000 bitcoin скачать bitcoin растет
калькулятор ethereum get bitcoin ethereum краны bitcoin knots amd bitcoin курс ethereum faucet ethereum bitcoin ether bitcoin 2018 транзакции monero gold cryptocurrency
компьютер bitcoin bitcoin растет bitcoin википедия куплю ethereum bitcoin кранов bitcoin fund кошелька ethereum
Other ideasплатформа ethereum регистрация bitcoin bitcoin planet bitcoin c bitcoin torrent tether bootstrap testnet bitcoin tether пополнение roboforex bitcoin получение bitcoin
scrypt bitcoin bitcoin фарминг bitcoin hash ethereum twitter bitcoin компьютер форумы bitcoin bitcoin update monero rur bitcoin чат
bitcoin usa форекс bitcoin hub bitcoin bitcoin torrent bitcoin antminer
bitcoin ваучер wallet tether покупка bitcoin key bitcoin java bitcoin blockchain ethereum monero free bitcoin greenaddress bux bitcoin