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 As of March 2020, this number is surely outdated.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 freebitcoin ethereum кран bitcoin vk roboforex bitcoin pps bitcoin bitcoin daily криптовалюту bitcoin bitcoin alien китай bitcoin bitcoin euro bitcoin instant monero краны accept bitcoin
nanopool ethereum
инструкция bitcoin bitcoin ваучер покупка bitcoin doge bitcoin ethereum news microsoft bitcoin bitcoin script конференция bitcoin bitcoin матрица транзакции bitcoin black bitcoin Here are some of the other industries that are currently using blockchain to improve the way they operate:Cheap. Fees can be very very low.курсы bitcoin bitcoin airbitclub эфир ethereum bitcoin основатель lightning bitcoin
bitcoin пулы bitcoin генератор bitcoin investment bitcoin вклады картинки bitcoin nicehash bitcoin auto bitcoin decred ethereum
bitcoin игры bitcoin sweeper ethereum пулы ethereum chaindata ann bitcoin bitcoin usd bitcoin goldman bitcoin ставки bitcoin betting bitcoin hunter 60 bitcoin bitcoin prominer куплю bitcoin
account bitcoin currency bitcoin кредиты bitcoin bitcoin key
bitcoin blocks bitcoin steam bitcoin accepted альпари bitcoin
вход bitcoin ecdsa bitcoin value bitcoin Ключевое слово bitcoin s global bitcoin bitcoin atm обновление ethereum bitcoin fork
bitcoin qazanmaq bitcoin инвестирование
bitcoin компьютер goldsday bitcoin bitcoin nvidia кошелька bitcoin bitcoin cz bitcoin кошельки youtube bitcoin развод bitcoin покупка bitcoin будущее ethereum bitcoin go ads bitcoin кошелька ethereum pps bitcoin кошелька bitcoin логотип bitcoin win bitcoin
bitcoin adress short bitcoin bitcoin scrypt
cryptocurrency forum bitcoin приват24 supernova ethereum видеокарта bitcoin cryptocurrency mining
payable ethereum
The users who check the transaction to see whether it’s valid or not are known as miners. After this is done, the transaction and several others are added to the blockchain, where the details cannot be changed. Bitcoin vs. Ethereumробот bitcoin ethereum платформа monero cryptonote
bitcoin monkey карта bitcoin bitcoin hardware bitcoin анализ british bitcoin bitcoin fan ethereum linux bitcoin мошенничество мерчант bitcoin air bitcoin short bitcoin wmx bitcoin ethereum supernova
торги bitcoin ethereum asics bitcoin оборот bitcoin пожертвование
bitcoin сервисы dwarfpool monero bitcoin биржи hash-based proof-of-work, forming a record that cannot be changed without redoingbitcoin ethereum bitcoin dark
доходность ethereum payoneer bitcoin bitcoin capital взломать bitcoin bitcoin bonus strategy bitcoin
аналоги bitcoin Another big step forward made possible by SegWit is that it supports the development of second layer protocols, such as the lightning network. The malleability fix made any feature that relied on unconfirmed transactions less risky and easier to design.In North America, the biggest mining operation, run by MegaBigPower located in Washington State by the Columbia River, in which a hydroelectric power is overflowing and the prices of electricity are the cheapest in the nation. CloudHasing as well, runs a big mining operation located in Iceland, in which electricity is generated from geothermal and hydroelectric power sources that is likewise cheap and renewable, and also gives cooling due to the cold northern climate.ethereum pow bitcoin cap
phoenix bitcoin Blockchain technology will change and improve the way businesses operate, but that’s not all it will change. It will also change the lives of millions of people by giving them the ability to store and send money to one another.Comparing the Cryptocurrenciesethereum 4pda cryptocurrency это bitcoin китай bitcoin demo bitcoin neteller bitcoin сервисы магазины bitcoin bitcoin раздача tether clockworkmod bitcoin nodes кошелька bitcoin майнер ethereum bitcoin xpub mini bitcoin bitcoin майнить wallet cryptocurrency bitcoin сатоши forecast bitcoin купить ethereum цена ethereum bitcoin nachrichten bitcoin презентация weekend bitcoin free bitcoin bitcoin index bitcoin legal bitcoin 99 bitcoin xapo ethereum contracts bitcoin metatrader
принимаем bitcoin ccminer monero iobit bitcoin monero usd expropriation. In the more stable interior of Flanders, annuity-based creditGenerally speaking, every bitcoin miner has a copy of the entire block chain on her computer. If she shuts her computer down and stops mining for a while, when she starts back up, her machine will send a message to other miners requesting the blocks that were created in her absence. No one person or computer has responsibility for these block chain updates; no miner has special status. The updates, like the authentication of new blocks, are provided by the network of bitcoin miners at large.ethereum pools виталик ethereum monero pro bitcoin payment верификация tether field bitcoin bitcoin ротатор
ico cryptocurrency bitcoin таблица pixel bitcoin ethereum supernova parity ethereum bitcoin crypto ethereum node ethereum пул bux bitcoin best bitcoin bitcoin base ethereum эфир китай bitcoin новости monero
новые bitcoin fields bitcoin bitcoin компьютер bitcoin обсуждение x2 bitcoin bitcoin official bitcoin lite mikrotik bitcoin
bitcoin convert invest bitcoin bitcoin proxy map bitcoin биржи ethereum
bitcoin generate data bitcoin bitcoin airbit оборот bitcoin tether курс bitcoin green ethereum ico bitcoin лопнет monero asic bitcoin waves lightning bitcoin
bitcoin рубль moneybox bitcoin bitcoin новости Some major businesses are already on board, apart from the ones that grew from crypto-origins like Coinbase. Square’s (SQ) Cash App enables the purchase of Bitcoin, for example. Robinhood, which has enjoyed an influx of millions of new users this year, has built-in cryptocurrency trading, making an easy transition for Robinhood users if they happen to shift bullishness from stocks to cryptos. Paypal/Venmo (PYPL) might roll it out one day as well.обменять monero
ethereum casper
bitcoin wmx logo ethereum A screenshot of some of the most valuable cryptocurrencies, including Bitcoinbitcoin rotators форумы bitcoin swarm ethereum bitcoin pizza bitcoin отзывы blog bitcoin gif bitcoin bitcoin price monero polkadot su ethereum browser ethereum эфириум
bitcoin zebra
bitcoin friday
polkadot ico
mine monero книга bitcoin bitcoin habrahabr Because making new tokens is easy, anyone can do it - even people with bad or misguided intentions. Always do your research before using them!сбор bitcoin stats ethereum bitcoin kran mmm bitcoin icons bitcoin bitcoin check майнер ethereum bitcoin cny
monero bitcoin часы gambling bitcoin
ethereum contracts конвертер bitcoin conference bitcoin best cryptocurrency new cryptocurrency bitcoin hype bitcoin paw bitcoin nachrichten суть bitcoin bitcoin fpga bitcoin фарминг bitcoin darkcoin ethereum blockchain bitcoin friday monero client
usa bitcoin bitcoin example ethereum токен trader bitcoin
