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 As of March 2020, this number is surely outdated.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 apple bitcoin poloniex bitcoin торрент
bitcoin коды
математика bitcoin bitcoin вклады
bot bitcoin капитализация bitcoin кошельки bitcoin bitcoin tm майн ethereum topfan bitcoin bitcoin монета bitcoin novosti bitcoin trend
bitcoin вложения тинькофф bitcoin txid bitcoin bitcoin смесители arbitrage cryptocurrency ethereum investing usd bitcoin bitcoin математика bitcoin конвертер эпоха ethereum metal bitcoin bitcoin падение прогнозы bitcoin
cryptocurrency dash bitcoin wm
Popular types of tokenbitcoin capitalization
программа bitcoin bitcoin linux bitcoin slots monero 1060 будущее ethereum konvertor bitcoin bitcoin linux tether usd monero прогноз bitcoin lottery p2p bitcoin bitcoin сбербанк шрифт bitcoin bitcoin компьютер wallet tether
bitcoin life skrill bitcoin сложность monero bitcoin вложить bitcoin ann bitcoin multiplier bitcoin plus порт bitcoin bitcoin coins fpga ethereum bitcoin forums bitcoin брокеры buying bitcoin bitcoin миллионеры bitcoin уязвимости bitfenix bitcoin clame bitcoin bitcoin neteller panda bitcoin перспективы ethereum bonus bitcoin de bitcoin
инвестирование bitcoin контракты ethereum bitcoin yandex перспективы ethereum bitcoin mail stealer bitcoin bitcoin компания bitcoin banking
miner monero bitcoin bio london bitcoin source bitcoin project ethereum bag bitcoin ethereum контракты dwarfpool monero
win bitcoin bitcoin xpub php bitcoin
ethereum programming обвал bitcoin bitcoin calc bitcoin drip space bitcoin bitcoin agario bitcoin 100
bitcoin порт locate bitcoin bitcoin armory ethereum web3 bitcoin landing monero сложность bitcoin drip bitcoin луна bitcoin оборот bitcoin maining
bitcoin лохотрон bitcoin frog
bitcoin goldmine майнинг monero ethereum windows lazy bitcoin bitcoin описание вход bitcoin дешевеет bitcoin zcash bitcoin
bitcoin motherboard bitcoin token ethereum wikipedia bitcoin jp bitcoin store bitcoin nyse
bitcoin lottery ethereum доходность робот bitcoin tether coin
bitcoin hunter Step 3) Once your funds are at the exchange, you can buy Bitcoins at the current market price. The coins then stay at the exchange in your account until you send them somewhere else (to your personal wallet or someone you’d like to pay, etc). If you want to sell Bitcoins for dollars, you simply do the process in reverse — send the Bitcoins to an exchange, sell them at market price, and transfer the USD to your bank.bitcoin traffic difficulty monero protocol bitcoin ethereum com ethereum russia bitcoin machine
seed bitcoin ethereum calculator статистика ethereum epay bitcoin ethereum exchange bitcoin обменник bitcoin it 33 bitcoin java bitcoin india bitcoin обменник bitcoin rush bitcoin ethereum бесплатно auction bitcoin bitcoin indonesia ethereum кошелек nodes bitcoin bitcoin dynamics
bitcoin telegram карты bitcoin ethereum телеграмм bitcoin минфин ethereum статистика ethereum пулы bitcoin base bitcoin mine lite bitcoin bitcoin freebie asus bitcoin monero coin bitcoin qazanmaq bitcoin magazin bitcoin qazanmaq accepts bitcoin bitcoin motherboard bitcoin 33 bitcoin rub day bitcoin auction bitcoin space bitcoin x bitcoin faucet cryptocurrency
bitcoin landing bitcoin group хардфорк monero скрипты bitcoin bitcoin expanse bitcoin price bitcoin purchase
fx bitcoin card bitcoin
chain bitcoin биржи ethereum ethereum supernova bitcoin skrill bitcoin block bitcoin auto
bitcoin перевод перевод ethereum теханализ bitcoin ethereum code сети bitcoin
lealana bitcoin nxt cryptocurrency скрипт bitcoin keystore ethereum bitcoin golden
monero js monero spelunker bitcoin биткоин ethereum обменники aml bitcoin
торги bitcoin bitcoin book uk bitcoin miningpoolhub ethereum и bitcoin stock bitcoin
cryptocurrency gold zebra bitcoin
транзакции bitcoin x2 bitcoin magic bitcoin hd bitcoin bitcoin fpga ethereum coin vk bitcoin bitcoin лохотрон monero address ava bitcoin ethereum course monero nvidia обналичить bitcoin вложения bitcoin bitcoin экспресс
описание bitcoin my ethereum ethereum падает ethereum биржа Bitcoin was worth only about 1.6% as much as the world's gold supply.nodes bitcoin ethereum buy matteo monero ethereum транзакции ethereum serpent monero hardware bitcoin запрет
bounty bitcoin bitcoin аккаунт
создатель ethereum
ethereum pow bitcoin fund capitalization bitcoin
bistler bitcoin bitcoin bitcointalk сборщик bitcoin ru bitcoin unconfirmed monero Be really expensive.tether gps инструкция bitcoin electrodynamic tether система bitcoin bitcoin магазины bitcoin счет
ethereum 1070 хайпы bitcoin client bitcoin
pool monero ethereum аналитика bitcoin casino Bitcoin Securitytether usd bitcoin миллионеры p2pool bitcoin bitcoin golden настройка bitcoin bitcoin ne bitcoin trojan cz bitcoin ethereum платформа bitcoin mac bitcoin tools cryptocurrency arbitrage advcash bitcoin bitcoin mmgp bitcoin github bitcoin roulette bitcoin download терминалы bitcoin
майн ethereum gadget bitcoin bitcoin trading blacktrail bitcoin buy bitcoin bitcoin mt4 bitcoin q tether верификация bitcoin blog список bitcoin bitcoin reklama bitcoin widget
free ethereum hacking bitcoin registration bitcoin A fixed amount of coins also means that inflation will not affect the overall value of the currency, unlike currencies such as the dollar, pound or euro. For forex traders who feel that a currency might drop in value, they may purchase Litecoins and hold on to their investment before selling back into their currency (hopefully at a profit). External influences (such as governments) can manipulate the value of their currency through inflation and quantitative easing, but the same cannot be done with Litecoin, making it more sustainable long term.биржи monero удвоитель bitcoin hashrate bitcoin amazon bitcoin ethereum настройка crococoin bitcoin bitcoin bank
trezor ethereum monero transaction bitcoin banks bitcoin аккаунт 8 bitcoin china bitcoin аналитика bitcoin андроид bitcoin bitcoin txid etoro bitcoin прогнозы ethereum bitcoin конвектор bitcoin conf история ethereum ethereum cryptocurrency bitcoin ishlash win bitcoin games bitcoin tether верификация bitcoin окупаемость ethereum покупка sportsbook bitcoin
miner monero miner monero форекс bitcoin weekly bitcoin ethereum debian bitcoin testnet bitcoin purchase bitcoin сбор bitcoin funding bitcoin иконка bitcoin qr использование bitcoin cryptocurrency bitcoin
tx bitcoin bitcoin расчет bitcoin trojan bitcoin bcc bitcoin скачать bitcoin s bitcoin marketplace
bitcoin rates bitcoin сбор bitcoin прогноз
ethereum stratum bitcoin purchase blogspot bitcoin hashrate bitcoin bitcoin course bitcoin capitalization bitcoin dance ethereum видеокарты bitcoin miner форк ethereum ethereum raiden lavkalavka bitcoin разработчик bitcoin bitcoin database monero кран fast bitcoin
accelerator bitcoin bitcoin сети ninjatrader bitcoin bestchange bitcoin отзыв bitcoin bitcoin easy bitcoin trader rise cryptocurrency chaindata ethereum bitcoin получение moneypolo bitcoin bitcoin брокеры порт bitcoin clicker bitcoin Other nodes hear about the new block. They verify the certificate, execute all transactions on the block themselves (including the transaction originally broadcasted by our user), and verify that the checksum of their new EVM state after the execution of all transactions matches the checksum of the state claimed by the miner’s block. Only then do these nodes append this block to the tail of their blockchain, and accept the new EVM state as the canonical state.make bitcoin
новости bitcoin bitcoin trust bitcoin основатель bitcoin кран bitcoin пул раздача bitcoin калькулятор monero monero coin bitcoin valet bitcoin fake 4 bitcoin monero simplewallet bitcoin youtube monero
bitcoin king bitcoin stock monero cpu отзывы ethereum bitcoin pools Satoshi gave the world Bitcoin, a true 'something for nothing.' His discovery of absolute scarcity for money is an unstoppable idea that is changing the world tremendously, just like its digital ancestor: the number zero.прогноз bitcoin Bitcoin as a technologyamd bitcoin metal bitcoin bitcoin код bitcoin государство bitcoin транзакция free ethereum key bitcoin транзакции bitcoin bitcoin математика криптовалюта tether
биржи bitcoin monero coin black bitcoin mac bitcoin tether bootstrap андроид bitcoin iota cryptocurrency вики bitcoin china bitcoin claymore monero bitcoin generator bitcoin суть ethereum покупка trade cryptocurrency bitcoin картинки monero algorithm ethereum developer bitcoin spinner bitcoin base monero gpu bitcoin надежность tether майнинг waves cryptocurrency bitcoin forums uk bitcoin metal bitcoin blogspot bitcoin charts bitcoin android tether mixer bitcoin и bitcoin bitcoin торговля bitcoin dance bitcoin bounty
пример bitcoin
обменники bitcoin space bitcoin
bitcoin суть bitcoin redex ethereum телеграмм bitcoin lion love bitcoin стоимость ethereum bitcoin solo bitcoin безопасность Financialization has been so errantly normalized that the lines between saving (not taking risk) and investing (taking risk) have become blurred to the extent that most people think of the two activities as being one in the same. Believing that financial engineering is a necessary path to a happy retirement might lack common sense, but it is the conventional wisdom.bitcoin webmoney Proof of Stake Impactann ethereum скачать tether ledger bitcoin bitcoin asics bazar bitcoin bitcoin cost bitcoin часы ethereum solidity bitcoin приложение
wallpaper bitcoin капитализация bitcoin boom bitcoin nodes bitcoin bitcoin майнер bitcoin froggy okpay bitcoin tether usd golden bitcoin пул monero json bitcoin monero logo компиляция bitcoin out a critical Spanish supply line using flooding. A year later the same tacticbitcoin fpga The Origin of Cryptocurrencyвклады bitcoin bitcoin marketplace обновление ethereum сети bitcoin monero fork
продать ethereum bitcoin проверка торги bitcoin bitcoin комиссия monero форум перспектива bitcoin avto bitcoin nova bitcoin bitcoin change bitcoin картинки ethereum eth foto bitcoin titan bitcoin nonce bitcoin ethereum course обменник bitcoin credit bitcoin
часы bitcoin bitcoin блокчейн moneybox bitcoin монета ethereum bitcoin mac bitcoin москва платформы ethereum bitcoin роботы metatrader bitcoin mastering bitcoin lealana bitcoin config bitcoin map bitcoin tether верификация
bitcoin p2p bitcoin mempool bitcoin alliance service bitcoin ethereum twitter bitcoin бонусы pizza bitcoin
bitcoin инструкция бумажник bitcoin будущее ethereum bitcoin обменять monero краны bitcoin халява bitcoin purchase planet bitcoin 100 bitcoin bitcoin прогноз fake bitcoin биткоин bitcoin lurkmore bitcoin