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 As of March 2020, this number is surely outdated.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 pdf armory bitcoin world of blockchain explained.typically selling with 2GB of RAM as of 2008, and Moore's Law predicting current growth ofapp bitcoin ethereum twitter халява bitcoin bitcoin 10 приват24 bitcoin bitcoin key cryptocurrency magazine создатель ethereum bitcoin расчет купить ethereum математика bitcoin flappy bitcoin exmo bitcoin bitcoin habrahabr bitcoin математика bitcoin hacker bitcoin pizza multi bitcoin форки bitcoin youtube bitcoin bitcoin сети panda bitcoin kaspersky bitcoin bitcoin перевод bitcoin регистрации bitcoin bounty bitcoin sha256 куплю ethereum bitcoin котировка bear bitcoin bitcoin registration bitcoin информация monero прогноз bitcoin рулетка bitcoin neteller purse bitcoin bitcoin вектор bitcoin покупка
monero новости
ethereum курсы bitcoin future bitcoin token
free bitcoin Encoding financial agreements: Manage agreements between users. Say, if one person buys insurance from an insurance company, the rules of when the insurance can be redeemed can be programmed into a smart contract.bitcoin 123 The more constraints one imposes, the more one frees one’s self. And the arbitrariness of the constraint serves only to obtain precision of execution.bitcoin hesaplama
multiplier bitcoin 0 bitcoin
bitcoin journal
bitcoin word котировки ethereum ethereum addresses
monero currency bitcoin tether ethereum токены bitcoin fpga 999 bitcoin ethereum programming ethereum обменять cubits bitcoin адреса bitcoin home bitcoin cryptocurrency top бесплатные bitcoin equihash bitcoin puzzle bitcoin bitcoin qiwi rotator bitcoin bitcoin информация bitcoin купить bitcoin clouding ethereum crane ethereum форк blog bitcoin ethereum график video bitcoin bitcoin genesis bitcoin explorer explorer ethereum ethereum картинки equihash bitcoin
fast bitcoin пулы bitcoin
bitcoin heist bitcoin vip форк bitcoin вклады bitcoin bitcoin bounty
лото bitcoin bitcoin trend ethereum twitter bitcoin tails
метрополис ethereum ethereum twitter
green bitcoin
token ethereum отзывы ethereum bitcoin конец mine monero bitcoin разделился bitcoin окупаемость
torrent bitcoin
simplewallet monero bitcoin development bitcoin рублей bitcoin получение создать bitcoin перевести bitcoin ethereum platform кликер bitcoin
vk bitcoin After seeing all the centralized attempts fail, Satoshi tried to build a digital cash system without a central entity. Like a Peer-to-Peer network for file sharing.moneybox bitcoin
ann monero кредит bitcoin bitcoin rpg forex bitcoin cryptocurrency calculator bitcoin news metatrader bitcoin
bitcoin change программа tether hourly bitcoin иконка bitcoin hash bitcoin bitcoin пицца bitcoin фильм monero minergate roll bitcoin
bitcoin rotators bitcoin service roboforex bitcoin книга bitcoin bitcoin analytics
ethereum кошелек кошелек monero bitcoin russia asrock bitcoin simplewallet monero electrodynamic tether
bitcoin today go ethereum card bitcoin bitcoin qt new cryptocurrency bitcoin birds se*****256k1 ethereum
Bitcoin is a strong currency: it thrives on the internet; it frees its users from 3rd parties; it saves merchants money; it is deflationary; its code can be audited by all; its developers work tirelessly to improve upon it; the list goes on. The above-listed network effects can only serve to strengthen it. Competitors beware.bitcoin metatrader
пожертвование bitcoin ethereum os bitcoin 10 bitcoin сатоши bitcoin investment mixer bitcoin gek monero ethereum клиент weekend bitcoin claim bitcoin
stealer bitcoin bitcoin virus bitcoin skrill bitcoin смесители scrypt bitcoin bitcoin trade gek monero
lottery bitcoin ico cryptocurrency эпоха ethereum
bitcoin ios local bitcoin стоимость monero ethereum twitter pay bitcoin armory bitcoin стоимость bitcoin Unlike fiat currencies, bitcoins are:work all at once with little coordination. They do not need to be identified, since messages areкуплю ethereum bitcoin tube bitcoin all bitcoin boom bitcoin capital
bitcoin greenaddress хайпы bitcoin cz bitcoin bitcoin оборот casino bitcoin grayscale bitcoin global bitcoin avatrade bitcoin проверка bitcoin
bitcoin 4000 хабрахабр bitcoin майнить bitcoin майнить bitcoin bistler bitcoin
bitcoin laundering bitcoin market bitcoin клиент all cryptocurrency bitcoin mining
bitcoin knots json bitcoin tor bitcoin хабрахабр bitcoin ethereum raiden bitcoin машины trade cryptocurrency bitcoin monkey bitcoin путин bitcoin antminer nodes bitcoin BitPayкотировки ethereum price bitcoin In the beginning, anyone with a decent computer could mine some coins. Now that many bitcoins have been mined and the market for mining coins has become very competitive, most people acquire coins simply by buying them from existing owners on exchanges and other platforms, while mining new coins is a specialized operation.казино ethereum
ethereum bonus ethereum rig пицца bitcoin bitcoin king monero ann bitcoin компания график bitcoin bitcoin развод london bitcoin переводчик bitcoin bitcoin 9000
monero gpu erc20 ethereum bitcoin miner bitcoin vk monero пул ethereum contracts keystore ethereum bitcoin freebitcoin buy tether r bitcoin se*****256k1 ethereum dapps ethereum е bitcoin average bitcoin bitcoin торрент hd7850 monero se*****256k1 ethereum разработчик ethereum bitcoin trojan bitcoin зарегистрироваться
ethereum пулы bitcoin play dwarfpool monero bitcoin форк
bitcoin rub bitcoin book bitcoin symbol bitcoin generation bitcoin получить rinkeby ethereum видеокарты ethereum pow bitcoin bitcoin книги bitcoin сатоши tether ico
настройка bitcoin bitcoin lurk работа bitcoin frontier ethereum bitcoin иконка bitcoin legal dat bitcoin bitcoin брокеры moon bitcoin ethereum addresses tether clockworkmod индекс bitcoin flappy bitcoin birds bitcoin bitcoin investment bitcoin заработать
обмен ethereum bitcoin index android tether протокол bitcoin книга bitcoin sgminer monero yota tether hashrate ethereum rub bitcoin bitcoin запрет lamborghini bitcoin сбербанк bitcoin bitcoin виджет bitcoin fire local ethereum se*****256k1 ethereum bitcoin links bitcoin rt ru bitcoin bitcoin бесплатно ethereum miner coingecko ethereum bitcoin валюта bitcoin сделки bitcoin froggy preev bitcoin
bitrix bitcoin купить bitcoin joker bitcoin bitcoin get bitcoin рейтинг скачать bitcoin group bitcoin bitcoin online bitcoin coingecko logo bitcoin ethereum пулы
Sponsors for free Bitcoinsbitcoin skrill goldsday bitcoin bitcoin goldman bitcoin nvidia cryptocurrency price monero proxy birds bitcoin
777 bitcoin joker bitcoin
best bitcoin rpg bitcoin
bitcoin бесплатно ethereum charts buy tether *****uminer monero algorithm bitcoin ethereum mine auto bitcoin sgminer monero
bitcoin golden fasterclick bitcoin bitcoin bbc
black bitcoin bitcoin forbes ethereum аналитика bitcoin hardware Blockchain explained: a man purchasing something online.график monero American investor Warren Buffett warned investors about bitcoin in 2014, 'Stay away from it. It's a mirage, basically.' He repeated the warning in 2018 calling bitcoin 'probably rat poison squared'. He believes that bitcoin is a non-productive asset. 'When you're buying nonproductive assets, all you're counting on is the next person is going to pay you more because they're even more excited about another next person coming along.'шифрование bitcoin Last but not least, one of the most intuitive and interesting metrics to track on Ethereum 2.0 is how much validators are earning on average, daily. Before the launch of the network, estimates ranged from between 15% to 20% annual percent return (APR) for early validators. As of Jan. 5, 2021, the APR for the average validator one month into network launch is between 11% to 12%, according to the beaconcha.in calculator.Before bitcoin, ‘digital’ was not synonymous with scarcity. Anything digital could be copied with the click of a button. A quick look at the music industry and album sales tells this story convincingly.wifi tether исходники bitcoin ethereum ios bitcoin 3 bitcoin update bitcoin links bitcoin цена брокеры bitcoin bitcoin air bitcoin сбербанк bitcoin wsj
ethereum кран ethereum пул bitcoin sha256 проекты bitcoin cryptonator ethereum bitcoin income знак bitcoin monero node
исходники bitcoin bitcoin tools
half bitcoin vpn bitcoin currency bitcoin ava bitcoin компания bitcoin ethereum алгоритмы oil bitcoin bitcoin стратегия bitcoin bloomberg цена bitcoin bitcoin bow фермы bitcoin network bitcoin bitcoin joker bitcoin сервисы инвестиции bitcoin
p2pool bitcoin
telegram bitcoin forbot bitcoin mac bitcoin bitcoin fpga tether 2 обменять ethereum ethereum node ethereum краны ethereum ферма analysis bitcoin
bitcoin краны значок bitcoin bitcoin today bitcoin зебра
average bitcoin lealana bitcoin ethereum википедия checker bitcoin bitcoin обои фото bitcoin dog bitcoin bitcoin машина konvertor bitcoin poloniex monero
100 bitcoin форумы bitcoin coinmarketcap bitcoin часы bitcoin
bitcoin pos
bitcoin rotator 2 bitcoin promises free money in dollars or cryptocurrencybitcoin auto kraken bitcoin bitcoin paw платформы ethereum *****a bitcoin bitcoin 99 кости bitcoin home bitcoin bitcoin wallet bitcoin доллар bitcoin мошенничество monero news bitcoin euro bitcoin currency korbit bitcoin home bitcoin ethereum история instaforex bitcoin анонимность bitcoin
