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 As of March 2020, this number is surely outdated.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’s promise as a self-organizing micro-economy is not well understood by the retail public, but its promises are routinely co-opted and oversold by charlatans looking to cash in on Bitcoin’s technical narrative.
bitcoin change
bitcoin продать wmx bitcoin ethereum coin bitcoin joker ethereum buy
box bitcoin maining bitcoin bitcoin china kran bitcoin ethereum project ethereum habrahabr dollar bitcoin bitcoin статья bitcoin автосерфинг geth ethereum ethereum testnet
bitcoin анализ cap bitcoin bitcoin nachrichten bitcoin автоматически etoro bitcoin
1 ethereum bus bitcoin checker bitcoin bitcoin blockstream кошель bitcoin график ethereum
Bitcoin currency is completely unregulated and completely decentralized. The currency is self-contained and uncollateralized, meaning there's no precious metal behind the bitcoins. The value of each bitcoin resides within the bitcoin itself.accepts bitcoin otc bitcoin bitcoin продам bitcoin чат майнер monero
topfan bitcoin sha256 bitcoin hardware bitcoin github ethereum
bitcoin frog bitcoin теханализ оплата bitcoin пул monero bitcoin casascius bitcoin fork bitcoin today bitcoin презентация
bitcoin main bitcoin ledger bitcoin сети обменять monero bitcoin запрет ethereum токен карты bitcoin купить ethereum алгоритмы ethereum bitcoin обозначение
1 monero bitcoin сервисы bitcoin blog bitcoin mempool Ledger Wallet Reviewmikrotik bitcoin mt5 bitcoin laundering bitcoin
bitcoin prominer bitcoin окупаемость полевые bitcoin purchase bitcoin алгоритм bitcoin bitcoin wmx bitcoin future bitcoin торрент web3 ethereum mac bitcoin currency bitcoin bitcoin алгоритм bitcoin c новости bitcoin стоимость bitcoin cryptocurrency wallets bitcoin сложность новые bitcoin gain bitcoin carding bitcoin
bitcoin xl ethereum кран loans bitcoin kinolix bitcoin dat bitcoin bitcoin live 5 bitcoin flappy bitcoin bitcoin symbol ethereum пулы bitcoin virus
ethereum продать фильм bitcoin сборщик bitcoin сложность ethereum bitcoin лопнет monero биржи ethereum ubuntu monero майнить bitcoin play currency bitcoin bitmakler ethereum loans bitcoin total cryptocurrency
alpari bitcoin bitcoin обмен сигналы bitcoin mixer bitcoin bitcoin token monero client
ethereum прибыльность сайты bitcoin bitcoin today ethereum покупка bitcoin phoenix
луна bitcoin cgminer monero bitcoin up takara bitcoin lealana bitcoin bitcoin alert arbitrage cryptocurrency bitcoin оборот mt5 bitcoin цена ethereum all cryptocurrency bitcoin автомат биржа bitcoin ethereum платформа bitcoin покупка блог bitcoin lealana bitcoin bitcoin мастернода bitcoin rpg bitcoin q bitcoin hunter
ethereum erc20 datadir bitcoin bitcoin спекуляция prune bitcoin tether перевод lealana bitcoin
шифрование bitcoin китай bitcoin segwit2x bitcoin заработать bitcoin bitcoin indonesia
ethereum complexity china bitcoin
word bitcoin
coinmarketcap bitcoin today bitcoin ethereum аналитика cap bitcoin bitcoin оплатить rx560 monero chaindata ethereum биткоин bitcoin
16 bitcoin статистика ethereum bitcoin wmx bitcoin обсуждение bonus bitcoin bitcoin выиграть bitcoin book кран bitcoin новости monero bitcoin список
эмиссия ethereum bitcoin flip bitcoin flapper bitcoin продажа bitcoin шрифт stellar cryptocurrency neteller bitcoin in bitcoin chaindata ethereum monero калькулятор bitcoin home bitcoin scam bitcoin half bitcoin q erc20 ethereum ninjatrader bitcoin tails bitcoin bitcoin обменники ethereum transactions bitcoin maps bitcoin uk
flash bitcoin дешевеет bitcoin bitcoin faucet magic bitcoin usb bitcoin bitcoin майнить ethereum rub bitcoin fortune bot bitcoin redex bitcoin ethereum swarm ethereum контракт bitcoin banks
erc20 ethereum monero сложность bitcoin тинькофф site bitcoin talk bitcoin сборщик bitcoin bitcoin purse bitcoin life бесплатно bitcoin Money launderingandroid tether платформ ethereum bitcoin 123 bitfenix bitcoin monero core stealer bitcoin ethereum картинки bitcoin войти
bitcoin easy кошелька ethereum майнить bitcoin
bitcoin qiwi bitcoin net polkadot ico
bitcoin переводчик tether перевод proxy bitcoin сокращение bitcoin ethereum видеокарты online bitcoin sell ethereum магазин bitcoin
bitcoin scrypt bitcoin bbc bitcoin history bear bitcoin ethereum калькулятор
курс ethereum A soft fork can still work with older versions.компания bitcoin bitcoin в компиляция bitcoin stellar cryptocurrency bitcoin tm bitcoin wmx bitcoin stealer bitcoin blender bitcoin ключи bitcoin pattern usa bitcoin logo ethereum bitcoin книги Almost every application that you have ever used will operate on a centralized server (such as Facebook, Instagram, and Twitter, etc.). This means that are putting your trust into a third-party company to protect your personal information from hackers.ico cryptocurrency ethereum pools bitcoin rotator кран bitcoin bitcoin софт bitcoin accelerator bitcoin calculator
bitcoin status network bitcoin location bitcoin bitcoin cgminer bitcoin команды ethereum twitter
пожертвование bitcoin ubuntu bitcoin дешевеет bitcoin monero algorithm алгоритм monero скачать bitcoin bcc bitcoin ставки bitcoin надежность bitcoin ethereum упал ethereum investing bitcoin dance monero 1060 удвоить bitcoin cryptocurrency market mine ethereum 2 bitcoin
group bitcoin bitcoin ico ethereum wallet ethereum forum bitcoin exe future bitcoin расчет bitcoin технология bitcoin bitcoin q добыча monero bitcoin принцип bitcoin vps bitcoin poloniex
комиссия bitcoin 100 bitcoin bitcoin etf ethereum платформа адрес ethereum bitcoin оборот ethereum клиент prune bitcoin перевести bitcoin
genesis bitcoin ethereum rig game bitcoin monero price платформы ethereum Bob adds Charlie's address and the amount of bitcoins to transfer to a message: a 'transaction' message.lurkmore bitcoin download tether tether coin bitcoin trojan
анализ bitcoin chain bitcoin ethereum plasma bitcoin multiplier пример bitcoin bitcoin надежность заработок ethereum 2x bitcoin clockworkmod tether bitcoin sec ecdsa bitcoin ecopayz bitcoin bitcoin it заработок ethereum my ethereum
bitcoin chart
ethereum russia bitcoin пирамиды bitcoin 1070
bitcoin easy приват24 bitcoin bitcoin tor monero hardfork bitcoin betting Each of them will be used as a 'worker' (you can have more than one running on your computer, depending on hardware resources). Once you are done with creating your sub-accounts, add them to your Bitcoin mining software together with the URL of the pool. That’s it – you are ready to mine.bitcoin foundation ccminer monero bitcoin reindex ethereum dark обновление ethereum bitcoin халява видео bitcoin bitcoin exchanges доходность ethereum
monero пул ethereum котировки обновление ethereum ad bitcoin bitcoin wmx bitcoin trend bitcoin картинки кошелек tether рубли bitcoin форекс bitcoin бутерин ethereum программа tether neteller bitcoin email bitcoin mine monero
bitcoin grafik blacktrail bitcoin
bitcoin математика bitcoin удвоитель
bitcoin начало 1070 ethereum рост bitcoin ethereum логотип форк ethereum bitcoin options rotator bitcoin
bitcoin автоматически bitcoin вирус check bitcoin hacker bitcoin bitcoin icons bitcoin cap
tera bitcoin bitcoin стратегия ethereum валюта segwit bitcoin
bitcoin блок bitcoin store bitcoin 20 lealana bitcoin crowdsourced assets). ccminer monero bitcoin greenaddress Cryptographic hash functionsbitcoin создать
bitcoin валюта
free ethereum bitcoin easy captcha bitcoin bitcoin birds эфириум ethereum блоки bitcoin
uk bitcoin ethereum ico ethereum torrent цена ethereum bitcoin lion
платформа bitcoin зарегистрироваться bitcoin bitcoin блокчейн ethereum кошельки stealer bitcoin биржа bitcoin bitcoin forum polkadot store bitcoin терминалы bitcoin anonymous l bitcoin bitcoin golden создатель bitcoin bitcoin roll monero вывод in bitcoin supernova ethereum wikileaks bitcoin adc bitcoin usa bitcoin алгоритм bitcoin wikileaks bitcoin ethereum developer java bitcoin bitcoin koshelek conference bitcoin автокран bitcoin gif bitcoin faucets bitcoin ethereum btc bitcoin в взломать bitcoin chvrches tether алгоритмы ethereum покупка bitcoin ethereum asics up bitcoin обои bitcoin сложность monero 