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 As of March 2020, this number is surely outdated.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.
blogspot bitcoin ethereum crane проблемы bitcoin
платформ ethereum
клиент ethereum daemon bitcoin
electrodynamic tether bitcoin primedice monero asic bitcoin xyz обменники bitcoin ethereum клиент scrypt bitcoin bitcoin count bitcoin slots bitcoin etherium server bitcoin мониторинг bitcoin transaction bitcoin monero proxy bitcoin conveyor film bitcoin bitcoin описание bitcoin pdf bitcoin mmgp bitcoin котировки
ethereum ico bitcoin халява ethereum crane sgminer monero bitcoin pdf bitcoin бонусы lite bitcoin bitcoin download bitcoin neteller bitcoin atm капитализация ethereum казино ethereum
bitcoin games monero купить bitcoin base bitcoin ledger fire bitcoin bitcoin purchase maps bitcoin bitcoin local сбор bitcoin p2p bitcoin hourly bitcoin bitcoin book swarm ethereum bitrix bitcoin app bitcoin tether bitcointalk blitz bitcoin майнить ethereum bitcoin gadget wikipedia ethereum ethereum проект сбор bitcoin bitcoin приложения ethereum rotator ethereum calculator connect bitcoin bitcoin motherboard bitcoin group fpga ethereum monero address car bitcoin баланс bitcoin monero настройка bitcoin markets bitcoin project bitcoin landing monero новости bitcoin вирус bitcoin froggy bitcoin generate monero новости micro bitcoin surf bitcoin приложение tether ecdsa bitcoin rush bitcoin скачать tether With a traditional debit or credit card, any financial activity you conduct over the Internet is recorded within your 'account,' stored on the card issuer’s central computer or cloud. There are no accounts in Bitcoin. Instead, funds (ie., bitcoins) are controlled by a pair of cryptographic keys. Any person can generate a pair of keys using a Bitcoin wallet, and no personal information is required. Individuals can hold as many keypairs as they like, and groups of people can share access to funds with 'multi-signature' wallets.Compare Crypto Exchanges Side by Side With Othersdog bitcoin blogspot bitcoin bitcoin transaction bitcoin book нода ethereum bitcoin analysis network bitcoin polkadot блог эфир ethereum dog bitcoin bitcoin forums collector bitcoin sgminer monero
php bitcoin математика bitcoin bitcoin world скрипт bitcoin bitcoin blockchain ethereum вики bitcoin анимация будущее ethereum заработать monero
bitcoin pizza car bitcoin get bitcoin simple bitcoin network bitcoin connect bitcoin ethereum бесплатно зарегистрироваться bitcoin topfan bitcoin apple bitcoin bitcoin elena ethereum miners monero amd bitcoin plus coffee bitcoin datadir bitcoin xmr monero bitcoin group пожертвование bitcoin foto bitcoin bitcoin бесплатно акции bitcoin ethereum developer bitcoin минфин bitcoin sportsbook ethereum api waves bitcoin neo bitcoin платформы ethereum bitcoin лохотрон bitcoin cgminer ethereum russia bitcoin генераторы bitcoin официальный monero купить bitcoin страна ninjatrader bitcoin bitcoin pdf получить bitcoin bitcoin background bitcoin explorer miner monero bitcoin price eos cryptocurrency reverse tether bitcoin golden ethereum краны Trading Litecoinnanopool monero exmo bitcoin bitcoin casino технология bitcoin bitcoin coingecko auto bitcoin bitcoin hosting bitcoin local сайте bitcoin monero hashrate история ethereum air bitcoin bitcoin график bitcoin 2x rocket bitcoin bitcoin js bitcoin майнер alpari bitcoin pools bitcoin bitcoin novosti ethereum habrahabr bitcoin китай
конвертер bitcoin bitcoin майнить bitcoin bux
bitcoin hashrate bitcoin конвертер bitcoin stiller litecoin bitcoin
bitcoin accelerator дешевеет bitcoin bitcoin journal
ethereum stats claim bitcoin bitcoin 1070 bitcoin compromised bitcoin fan вывод monero accepts bitcoin bitcoin elena bitcoin fork bitcoin fpga bitcoin сложность bitcoin лого bitcoin сети monero график topfan bitcoin china bitcoin system bitcoin bitcoin source
ethereum обменять bitcoin statistics cardano cryptocurrency bitcoin passphrase fee bitcoin bitcoin split Holding long term, also known as HODL (Holding On for Dear Life), does not allow you to take advantage of the crypto market’s volatility and make short-term profits.8. Binance Coin (BNB)bitcoin loto получить bitcoin tether usd торги bitcoin
ethereum асик coffee bitcoin суть bitcoin bitcoin grant python bitcoin analysis bitcoin bitcoin price bitcoin ukraine ethereum ротаторы bitcoin etf bitcoin вконтакте bitcoin de bitcoin analysis bitcoin mac bitcoin habr bitcoin кошелек
monero биржи ethereum shares bitcoin spend bitcoin simple bitcoin client
получение bitcoin bitcoin фарминг 99 bitcoin bitcoin 5 прогноз ethereum
bitcoin вебмани ethereum сайт konvertor bitcoin ethereum прибыльность x2 bitcoin bitcoin buy ethereum coingecko bitcoin автоматически
bitcoin online bitcoin hesaplama satoshi bitcoin bitcoin luxury
1000 bitcoin easy bitcoin перевести bitcoin vip bitcoin bitcoin переводчик monero pro bitcoin reddit bitcoin баланс ethereum coin bitcoin galaxy bitcoin valet bitcoin пирамиды майнинга bitcoin
хешрейт ethereum ethereum btc bitcoin server bitcoin tube checker bitcoin eobot bitcoin bitcoin neteller ethereum homestead bitcoin options bitcoin metal bitcoin boom bitcoin прогноз swarm ethereum bitcoin etherium программа tether polkadot cadaver игра ethereum bitcoin symbol bitcoin курс
polkadot stingray bitcoin change bitcoin tube
bitcoin бонусы bitcoin мастернода bio bitcoin top cryptocurrency инвестирование bitcoin dogecoin bitcoin bitcoin armory nonce bitcoin tx bitcoin график bitcoin bitcoin автоматически sberbank bitcoin bitcoin бизнес bitcoin доллар se*****256k1 bitcoin bitcoin income bitcoin проверить bitcoin example bitcoin switzerland bitcoin mt4 rx470 monero сложность bitcoin bitcoin logo bitcoin аккаунт monero btc chaindata ethereum topfan bitcoin ethereum обменники bitcoin ios enterprise ethereum bitcoin carding miningpoolhub ethereum nova bitcoin bitcoin preev bitcoin фирмы monero xmr
ethereum gold bitcoin today amazon bitcoin bitcoin daily trader bitcoin monero nvidia фарм bitcoin Cryptocurrency mining pools are groups of miners who share their computational resources.алгоритм monero андроид bitcoin 1080 ethereum bitcoin вебмани
обменять monero mist ethereum конвектор bitcoin bitcoin cranes bitcoin price
динамика ethereum Launching race between Bitcoin and Ethereumbitcoin шахты tether валюта difficulty ethereum новости monero
short bitcoin bitcoin icons bitcoin ethereum
bitcoin service 2016 bitcoin hd bitcoin bitcoin simple bitcoin weekly форекс bitcoin bitcoin spinner
bitcoin linux bitcoin валюты hashrate ethereum bitcoin окупаемость 1080 ethereum bitcoin вклады What is SegWit and How it Works Explainedglobal bitcoin Additionally, the Bitcoin price can vary throughout the world so be sure to do your research to make sure you are getting a fair deal.bitcoin information фильм bitcoin bitcoin antminer подтверждение bitcoin difficulty bitcoin trezor ethereum bitcoin fpga алгоритмы bitcoin ethereum org майнинга bitcoin bitcoin казахстан конвертер bitcoin cryptocurrency trading bitcoin java bitcoin prosto bitcoin rate bitcoin payoneer tether bootstrap
*****a bitcoin stats ethereum калькулятор ethereum google bitcoin ethereum serpent майнер bitcoin bitcoin elena trezor bitcoin ethereum стоимость playstation bitcoin ethereum pools bitcoin waves store bitcoin сатоши bitcoin bitcoin hunter bitfenix bitcoin покупка ethereum блок bitcoin bitcoin aliens
bootstrap tether ethereum forks cryptocurrency wikipedia карты bitcoin проблемы bitcoin seed bitcoin bitcoin c bitcoin количество fpga bitcoin bitcoin passphrase bitcoin завести bitcoin collector make bitcoin monero сложность webmoney bitcoin bitcoin хайпы cryptonator ethereum bitcoin dance bitcoin conf l bitcoin ethereum логотип bitcoin department frontier ethereum ethereum php ethereum poloniex blacktrail bitcoin chaindata ethereum car bitcoin torrent bitcoin майнинга bitcoin новые bitcoin kinolix bitcoin bitcoin растет bitcoin magazine bitcoin россия solidity ethereum In the West, interest in gold bullion has gradually declined somewhat over decades, while demand from the East for storing wealth has been strong. I suspect the 2020’s decade, due to monetary and fiscal policy, could renew western interest in gold, but we’ll see.bitcoin программа mail bitcoin exchange ethereum ethereum casper майн ethereum tether майнинг cranes bitcoin casinos bitcoin cryptocurrency bitcoin bitcoin value bitcoin webmoney autobot bitcoin bitcoin серфинг мавроди bitcoin bitcoin комиссия bitcoin бесплатный ethereum supernova bitcoin project ethereum валюта config bitcoin ethereum asics проект bitcoin total cryptocurrency bitcoin комиссия bitcoin мошенники система bitcoin adbc bitcoin android ethereum bitcoin мошенничество ethereum developer
vip bitcoin комиссия bitcoin ethereum токен konverter bitcoin gadget bitcoin
bitcoin логотип bitcoin freebitcoin dog bitcoin bloomberg bitcoin bitcoin сокращение счет bitcoin ethereum calc bitcoin loan сатоши bitcoin перспектива bitcoin bitcoin компания bitcoin комиссия microsoft ethereum bitcoin создатель rotator bitcoin explorer ethereum solidity ethereum ethereum coingecko That’s why miners 'pool' together their computational power into 'mining pools,' to improve their chances of solving the cryptographic puzzles and earning ether. Then, they split the profits proportional to how much power each miner contributed.ethereum контракт waves bitcoin short bitcoin weather bitcoin
проект bitcoin monero прогноз bitcoin бесплатный bitcoin attack flypool ethereum bitcoin депозит ad bitcoin bitcoin take ethereum browser скачать bitcoin
bitcoin код bitcoin txid bitcoin fan remix ethereum кошелька bitcoin space bitcoin monero краны tether usb hacking bitcoin bitcoin раздача
monero difficulty 0 bitcoin
foto bitcoin
bazar bitcoin bitcoin работать генераторы bitcoin system bitcoin ethereum news bitcoin сети bitcoin group bitcoin node виджет bitcoin технология bitcoin alien bitcoin bitcoin world bitcoin 4096 se*****256k1 ethereum bitcoin mail bitcoin блокчейн litecoin bitcoin bitcoin форк bitcoin project bitcoin favicon bitcoin click Image for post'What’s wrong with the cryptocurrency boom?'bitcoin реклама monero amd bitcoin status
bitcoin прогноз bitcoin neteller bitcoin code zebra bitcoin bitcoin кредит monero miner биржа ethereum bitcoin регистрация 3d bitcoin bitcoin x2 algorithm ethereum bitcoin linux bitcoin stellar bitcoin зебра
monero proxy эфир ethereum golden bitcoin ethereum кошельки скачать tether exchange bitcoin bitcoin mmgp avto bitcoin bitcoin club bitcoin maps bitcoin путин bitcoin froggy exchanges bitcoin
отзыв bitcoin wifi tether bitcoin аккаунт bitcoin casino bitcoin tor ethereum покупка Cryptojacking is when scammers use your computer or smartphone’s processing power to 'mine' cryptocurrency for their own benefit, and without your permission. Scammers can put malicious code onto your device simply by your visiting a website. Then they can help themselves to your device’s processor without you knowing.However, none of these problems are applicable to cryptocurrencies. First, let’s have a look at what cryptocurrencies are. bitcoin doubler ethereum проблемы bitcoin phoenix ethereum эфир платформ ethereum market bitcoin difficulty ethereum javascript bitcoin bitcoin legal bitcoin бумажник maining bitcoin bitcoin scrypt блок bitcoin coingecko ethereum litecoin bitcoin bitcoin create bitcoin lite bitcoin traffic форки ethereum market bitcoin monero calculator полевые bitcoin bitcoin traffic bestexchange bitcoin bitcoin slots шифрование bitcoin ethereum биткоин ethereum кошелька фото bitcoin играть bitcoin bitcoin rt tether скачать
стратегия bitcoin bitcoin nyse токен bitcoin (Note: specific businesses mentioned here are not the only options available, and should not be taken as a recommendation.)bitcoin сколько хайпы bitcoin bitcoin dynamics ecdsa bitcoin bitcoin japan 