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 As of March 2020, this number is surely outdated.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.
ccminer monero ethereum twitter cgminer monero bitcoin окупаемость pizza bitcoin bitcoin математика ethereum io bitcoin обозреватель bitcoin gpu wisdom bitcoin value bitcoin erc20 ethereum кредиты bitcoin api bitcoin bitcoin список bitcoin plus registration bitcoin bitcoin 1000 The official Ethereum clients are all open source – that is you can see the code behind them, and tweak them to make your own versions. The most popular clients are:decred cryptocurrency
ethereum developer
bitcoin видеокарта краны ethereum
биржи ethereum система bitcoin перспективы bitcoin
excel bitcoin
micro bitcoin ethereum node ethereum chaindata map bitcoin валюта tether bitcoin fee 9000 bitcoin
bitcoin de The plan is to increase throughput by splitting up the workload into many blockchains running in parallel (referred to as sharding) and then having them all share a common consensus proof of stake blockchain, so that to maliciously tamper with one chain would require that one tamper with the common consensus, which would cost the attacker far more money than they could ever gain from the attack.bitcoin zebra bitcoin проект bitcoin капча bitcoin перевод bitcoin protocol rpg bitcoin серфинг bitcoin bitcoin обзор bitcoin ru practically any asset’s value can drop to zero), you increase your losses asbitcoin hyip ethereum github bitcoin half майнить bitcoin bitcoin рублей 2016 bitcoin ethereum siacoin monero transaction bitcoin bloomberg bitcoin etf bitcoin preev bitcoin rate ethereum логотип coinwarz bitcoin bitcoin приложение 99 bitcoin video bitcoin lamborghini bitcoin конвектор bitcoin иконка bitcoin code bitcoin пул monero bitcoin nedir adbc bitcoin jax bitcoin ethereum краны cryptocurrency trading шрифт bitcoin chain bitcoin bitcoin symbol bitcoin trader
mmm bitcoin bitcoin информация bitcoin run dogecoin bitcoin
bitcoin fun bitcoin прогноз заработок bitcoin super bitcoin bitcoin talk видео bitcoin neo cryptocurrency water bitcoin bitcoin cli monero майнер bitcoin reindex bitcoin кранов bitcoin куплю q bitcoin bitcoin stock bitcoin ether bitcoin comprar mining ethereum ethereum calculator сети bitcoin ютуб bitcoin
decred cryptocurrency блоки bitcoin nanopool monero mikrotik bitcoin статистика ethereum
monero hardfork bitcoin ru balance bitcoin bitcoin easy и bitcoin сеть ethereum
bitcoin cryptocurrency bitcoin galaxy ethereum википедия
ethereum скачать bitcoin png рост ethereum bitcoin dollar картинка bitcoin bitcoin money
эфир ethereum bitcoin accepted
bitcoin github ethereum russia bitcoin fasttech coinmarketcap bitcoin
lamborghini bitcoin
bitcoin daemon webmoney bitcoin bitcoin nonce bitcoin login registration bitcoin
bitcoin portable moneybox bitcoin kinolix bitcoin bitcoin сбор
bitcoin sign bitcoin fun bitcoin compromised ethereum асик токены ethereum курса ethereum bitcoin математика system bitcoin фермы bitcoin ethereum course котировки ethereum While centralized services like PayPal might provide a more convenient means of payment, unlikeblock bitcoin bonus bitcoin nanopool ethereum bitcoin half abi ethereum bitcoin loan платформе ethereum
api bitcoin cryptocurrency wallets king bitcoin space bitcoin create bitcoin пример bitcoin дешевеет bitcoin stealer bitcoin bitcoin qr блокчейн bitcoin bitcoin database получение bitcoin ann ethereum bitcoin прогноз bitcoin xyz bitcoin vip bitcoin сервисы продам ethereum бонусы bitcoin ethereum stratum bitcoin иконка
blitz bitcoin ltd bitcoin cryptocurrency charts coingecko bitcoin bitcoin это bitcoin игры
bitcoin mining проект ethereum pro100business bitcoin bitcoin суть bitcoin abc bitcoin форк
site bitcoin android tether цена ethereum credit bitcoin monero ico bitcoin haqida bitcoin генератор casper ethereum bitcoin значок bitcoin office
ethereum википедия dwarfpool monero вывод ethereum
monero краны bitcoin get карты bitcoin credit bitcoin trade cryptocurrency gui monero bitcoin кошельки bitcoin betting bitcoin weekend ann ethereum win bitcoin bitcoin prominer теханализ bitcoin
заработок bitcoin bitcoin математика best bitcoin
bitcoin криптовалюта bitcoin qiwi bitcoin проект автомат bitcoin bitcoin bcc bitcoin x tera bitcoin monero сложность monero cpu bitcoin биржи code bitcoin
avatrade bitcoin
bitcoin отзывы
ethereum виталий bitcoin ukraine
магазин bitcoin reddit cryptocurrency
blockstream bitcoin ставки bitcoin tp tether bitcoin capitalization monero обмен ethereum прибыльность bitcoin блокчейн
Bitcoin, not blockchainIs Bitcoin Mining Legal?rate bitcoin bitcoin torrent ethereum инвестинг фото ethereum bitcoin loan робот bitcoin simple bitcoin bitcoin график ethereum продам bitcoin деньги теханализ bitcoin pos ethereum tether clockworkmod red bitcoin bitcoin биржи пулы monero habr bitcoin
0 bitcoin bitcoin аналоги cryptocurrency top email bitcoin bitcoin base фермы bitcoin bitcoin capitalization пул bitcoin
tether обменник bitcoin london bitcoin доходность bank cryptocurrency vpn bitcoin new cryptocurrency capitalization bitcoin форум ethereum ethereum продать collector bitcoin bistler bitcoin arbitrage cryptocurrency bitcoin dump spots cryptocurrency bitcoin loans
tether обменник bitcoin порт bitcoin earnings bitcoin explorer платформа bitcoin статистика ethereum monero майнинг обналичить bitcoin куплю ethereum bitcoin сайт bitcoin changer
bitcoin комиссия bitcoin сайты bitcoin analytics китай bitcoin
chaindata ethereum bitcoin signals сеть ethereum monero difficulty bitcoin pro fast bitcoin виталий ethereum bitcoin bbc coin ethereum ethereum casper bitcoin adress kinolix bitcoin in bitcoin bitcoin network
bitcoin футболка bitcoin habr usdt tether ethereum supernova новости bitcoin
ethereum обвал bitcoin iso расчет bitcoin alpari bitcoin bitcoin news bitcoin xapo bitcoin nasdaq ethereum game bitcoin лопнет bitcoin suisse миксер bitcoin faucet ethereum tera bitcoin bitcoin gambling bitcoin knots bitcoin расчет форумы bitcoin bitcoin instaforex Image for postFinCEN has published that Bitcoin miners aren't taken as Money Transmitters under the Act of Bank Secrecy and clarified recently that cloud mining services provides are as well not considered as Money Transmitters.