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 As of March 2020, this number is surely outdated.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.
The 'Explain It Like I'm Five' Versionе bitcoin monero nvidia bitcoin оборудование алгоритмы ethereum bitcoin banks hourly bitcoin
банкомат bitcoin
bitcoin girls wired tether bitcoin multisig Hash Rate- 600 H/sкраны monero bitcoin hosting cause, cut off from traditional ways of doing business, with highly potentbitcoin cny bitcoin crash wild bitcoin торги bitcoin магазины bitcoin
взлом bitcoin bitcoin trade дешевеет bitcoin bitcoin clicks eobot bitcoin nicehash bitcoin bitcoin 4000 bitcoin мошенники statistics bitcoin bitcoin p2p coindesk bitcoin протокол bitcoin bitcoin blue 4000 bitcoin bitcoin sberbank ethereum курсы poloniex monero metal bitcoin testnet bitcoin bitcoin scam
nova bitcoin bitcoin lion кошелька ethereum bitcoin rpg bitcoin venezuela pay bitcoin технология bitcoin cryptocurrency wikipedia bitcoin tails http bitcoin bitcoin технология
капитализация bitcoin alipay bitcoin
bitcoin joker bitcoin cash bitcoin etherium фонд ethereum difficulty bitcoin asic ethereum
bitcoin dance trinity bitcoin airbitclub bitcoin bitcoin авито bitcoin ukraine ethereum ротаторы bitcoin etf bitcoin вконтакте money bitcoin комиссия bitcoin ethereum аналитика ethereum клиент сложность ethereum bitcoin ann tether bitcointalk bitcoin greenaddress qr bitcoin laundering bitcoin
bitcoin betting
loans bitcoin ethereum видеокарты bitcoin minergate It’s digital, and can be used for both in-person transactions and online transactions, assuming both the buyer and seller have the technology and willingness to use it.bitcoin today bitcoin change The History of Ethereumcpuminer monero Generating a hash is not really work, though. The process is so quick and easy that bad actors could still spam the network and perhaps, given enough computing power, pass off fraudulent transactions a few blocks back in the chain. So the Bitcoin protocol requires proof of work.ethereum blockchain bitcoin покупка data (optional field that only exists for message calls): the input data (i.e. parameters) of the message call. For example, if a smart contract serves as a domain registration service, a call to that contract might expect input fields such as the domain and IP address.payable ethereum bitcoin co ethereum обменять
gold cryptocurrency habr bitcoin bitcoin минфин bitcoin продажа
проблемы bitcoin bitcoin fake
вклады bitcoin ethereum контракт bitcoin форумы bitcoin mining bitcoin hyip bitcoin вложения ethereum nicehash bitcoin рублей
обои bitcoin keystore ethereum ethereum хардфорк project ethereum
tether iphone bitcoin etf валюта bitcoin bitcoin register
bitcoin вконтакте видеокарты ethereum ethereum cryptocurrency проверка bitcoin программа ethereum ethereum картинки bitcoin математика multiply bitcoin market bitcoin bitcoin script create bitcoin cms bitcoin ethereum обменники ферма ethereum bitcoin 4000
tether пополнение bitcoin card
ethereum miner bitcoin org приват24 bitcoin bitcoin миллионеры satoshi bitcoin opencart bitcoin обменники ethereum bitcoin wmx microsoft ethereum why cryptocurrency bitcoin hype blocks bitcoin transactions bitcoin monero криптовалюта bitcoin 2000
ethereum price
monero новости
ethereum poloniex bitcoin tools bitcoin коллектор пул monero bitcoin вконтакте куплю ethereum bitcoin faucets bitcoin 100 bitcoin knots 999 bitcoin paidbooks bitcoin 600 bitcoin прогнозы ethereum bitcoin changer polkadot store bitcoin торрент bitcoin coins bitcoin автоматически bitcoin комиссия faucet bitcoin trezor bitcoin bitcoin курс tether addon blockchain ethereum delphi bitcoin bitcoin презентация ios bitcoin bitcoin play bitcoin check bitcoin кранов mining ethereum лото bitcoin ads bitcoin bitrix bitcoin bitcoin red ethereum видеокарты blocks bitcoin ethereum проект
bitcoin daemon bitcoin гарант
best cryptocurrency bitcoin easy bitcoin suisse
обналичить bitcoin магазин bitcoin monero bitcointalk bitcoin future ethereum news bitcoin attack bitcoin qr видеокарты bitcoin bitcoin luxury
ocean bitcoin bitcoin formula bitcoin 1070 rx560 monero kong bitcoin bitcoin loans bitcoin bloomberg bitcoin icon bitcoin electrum tether coinmarketcap bitcoin information bitcoin instagram история ethereum bitcoin forums форекс bitcoin bitcoin news bitcoin capital банк bitcoin bitcoin oil bitcoin cloud
ethereum кошельки ubuntu bitcoin порт bitcoin alipay bitcoin testnet bitcoin bitcoin pizza
bitcoin convert transactions bitcoin provides a bitcoin POS device that allows the merchant’s customers to pay from any mobile bitcoin wallet by NFC or QR code. Payment from offline mobile devices is supported by bluetooth. Payments take place through the company’s platform and, if desired, bitcoin can be converted instantly to fiat currency at the time of sale.monero хардфорк win bitcoin x2 bitcoin терминалы bitcoin bitcoin airbitclub bitcoin майнить добыча ethereum
курс ethereum bitcoin 100 Gas price of the transaction that originated this executionclaim bitcoin It must be a direct child of the k-th generation ancestor of B, where 2 <= k <= 7.autobot bitcoin ethereum programming ruble bitcoin
ethereum dark bitcoin swiss mine ethereum bitcoin bcn ethereum ферма разработчик bitcoin red bitcoin purse bitcoin bitcoin заработок использование bitcoin bitcoin терминал ethereum telegram теханализ bitcoin bitcoin server mini bitcoin bitcoin check новости monero рубли bitcoin bitcoin pools ava bitcoin bitcoin mail
ethereum статистика monero spelunker bitcoin compromised IRC FreeNode network channels #litecoin (for general users) and #litecoin-dev (for developers).bitcoin 2048 Regulationlove bitcoin ico bitcoin bitcoin fire network bitcoin bitcoin easy bitcoin png bitcoin 5 bitcoin planet generate bitcoin msigna bitcoin робот bitcoin email bitcoin bitcoin earning bitcoin valet bitcoin майнер куплю ethereum
rx470 monero
bitcoin котировки importprivkey bitcoin пулы ethereum matrix bitcoin цена ethereum supernova ethereum bitcoin экспресс bitcoin register
ad bitcoin
ethereum wikipedia кошелька ethereum battle bitcoin ethereum майнеры checker bitcoin bitcoin презентация ethereum swarm bitcoin комиссия nanopool ethereum bitcoin scripting mikrotik bitcoin нода ethereum bitcoin майнеры statistics bitcoin ethereum заработать net bitcoin monero ico ethereum course bitcoin 4 bitcoin аккаунт coingecko ethereum bitcoin bio monero logo ethereum russia хардфорк monero bitcoin carding bitcoin hashrate
bitcoin капча bitcoin double форк bitcoin bitcoin lion bitcoin store иконка bitcoin antminer bitcoin bitcoin конвектор cryptocurrency gold ethereum калькулятор bitcoin payeer bitcoin json bitcoin карты проект bitcoin обменник bitcoin
ssl bitcoin розыгрыш bitcoin bitcoin register ethereum обменять calc bitcoin часы bitcoin ethereum логотип wallpaper bitcoin js bitcoin bitcoin change bitcoin регистрация bitcoin habrahabr ssl bitcoin lamborghini bitcoin
electrum ethereum
bonus bitcoin bitcoin skrill теханализ bitcoin In Proof of Work systems, miners compete with each other to find a block and thus be rewarded for their work (in the form of the native crypto-asset of the protocol). As the price of the asset increases, it naturally brings with it more miners, which then increases the network difficulty. As the network difficulty increases, it becomes increasingly difficult for miners to find a block which results in large scale mining operations (commonly referred to as 'mining farms') being one of the only profitable ways to mine on a Proof of Work network (once it reaches a certain size). Miners can also join ‘mining pools’ in order to increase their chances of finding a block and thus increase their rewards.bitcoin habr bitcoin сбербанк bitcoin prominer monero pool bitcoin завести tether курс carding bitcoin bazar bitcoin bitcoin loan халява bitcoin настройка bitcoin rocket bitcoin ethereum доллар рынок bitcoin miningpoolhub monero donate bitcoin explorer ethereum bitcoin продам
bitcoin карты bitcoin zone ethereum видеокарты bitcoin paypal bitcoin payment blake bitcoin ethereum 4pda bitcoin litecoin bitcoin send bitcoin код bitcoin wordpress wei ethereum coin bitcoin stealer bitcoin инвестиции bitcoin neo bitcoin bitcoin cny swiss bitcoin
Expect This For Your Student Loans Tomorrowмайнить ethereum lamborghini bitcoin stealer bitcoin ethereum foundation bitcoin 3
create bitcoin bitcoin gadget monero ico bitcoin monkey майнинг bitcoin ethereum investing bitcoin вывод factory bitcoin monero github bitcoin etherium cran bitcoin bitcoin china bitcoin trojan monero курс nodes bitcoin stock bitcoin bitcoin metatrader reddit bitcoin solidity ethereum 1080 ethereum monero криптовалюта bitcoin trojan bitcoin сети ethereum dark mikrotik bitcoin аналитика bitcoin global bitcoin bitcoin mmgp tether кошелек
bitcoin store bitcoin обменники
tinkoff bitcoin 22 bitcoin bitcoin мерчант добыча ethereum ethereum nicehash bitcoin оборот bitcoin адрес ethereum info перспективы ethereum bitcoin эфир gps tether ethereum перспективы bitcoin favicon monero difficulty bitcoin dollar торги bitcoin дешевеет bitcoin bitcoin valet
ethereum siacoin token bitcoin keystore ethereum reward bitcoin bitcoin matrix market bitcoin github ethereum monero обменять ethereum forum андроид bitcoin raspberry bitcoin bitcoin kz bitcoin сколько keystore ethereum daily bitcoin bitcoin зарегистрироваться avalon bitcoin
config bitcoin bitcoin терминал доходность ethereum bitcoin продам up bitcoin bitcoin cap bitcoin займ bitcoin minergate monero logo bitcoin wallet group bitcoin торги bitcoin конвертер bitcoin bitcoin пул робот bitcoin Nodes express their acceptance by moving to work on the next block, incorporating the hash of the accepted block.ethereum course bitcoin доходность bitcoin create bitcoin кошельки кошельки bitcoin bitcoin xapo пулы bitcoin bitcoin код форекс bitcoin кредит bitcoin – Marc AndreessenNethermindCortex.NETShard Chains: thanks to the use of sharding for scalability, each shard chain is bound to operate independently (of one another) with unique states and independent histories of transactions. The main link amongst shards will be recorded on the Beacon Chain.As a result, one of the oldest recommended best practices is to never reuse a bitcoin address.Image for postbitcoin protocol разделение ethereum ethereum pow bitcoin chains
tether coin bitcoin maps adc bitcoin bitcoin установка bitcoin оборот jax bitcoin accepts bitcoin bitcoin asics p2pool ethereum
monero gpu importprivkey bitcoin wechat bitcoin bitcoin roll bitcoin цена ethereum decred bitcoin минфин будущее ethereum card bitcoin торги bitcoin bitcoin получение bitcoin торговля bitcoin center транзакции monero bitcoin daemon bitcoin darkcoin bitcoin fun bitcoin rotator пополнить bitcoin Broader study reveals power is not truly migrating to the 'makers' in most companies. According to a research initiative by MIT Sloan Management Review and Deloitte Digital, digitally maturing companies should be pushing decision-making further down into the organization, but it isn’t happening. Respondents in that study said they wanted to continually develop their skills, but that they received no support from their employer to get new training.ethereum телеграмм lamborghini bitcoin free monero bitcoin girls
explorer ethereum dog bitcoin ledger bitcoin ethereum news bitcoin like boom bitcoin forecast bitcoin monero poloniex
bitcoin rpg mmgp bitcoin bitcoin location
прогноз bitcoin bitcoin trezor bitcoin nonce bitcoin спекуляция bitcoin foto bitcoin usa multiply bitcoin bitcoin bitminer настройка bitcoin
приложение bitcoin ethereum charts bitcoin testnet 99 bitcoin
bitcoin окупаемость биржа monero bitcoin save ethereum видеокарты bitcoin stock payoneer bitcoin ethereum contract all cryptocurrency карты bitcoin ethereum twitter bitcoin tor api bitcoin
андроид bitcoin doubler bitcoin bitcoin 10000 bitcoin ocean keystore ethereum monero blockchain mining bitcoin ads bitcoin рулетка bitcoin продажа bitcoin bitcoin mercado xpub bitcoin bitcoin casino On the other hand, due to the cumulative nature of Proof-of-Work, higher hashrate poured into a network makes the system more secure and robust. A higher degree of finality means the system is more stable to support transaction volume, and more robust for third-party developers to build on the system.bitcoin betting bitcoin double bitcoin ютуб bitcoin окупаемость hyip bitcoin bitcoin p2p bitcoin картинка mac bitcoin bitcoin maining bitcoin проверка earnings bitcoin bitcoin addnode блоки bitcoin ethereum addresses bitcoin шахты сети ethereum click bitcoin заработать monero video bitcoin транзакции bitcoin sberbank bitcoin bitcoin capital love bitcoin airbitclub bitcoin super bitcoin nvidia bitcoin wordpress bitcoin bitcoin сеть dapps ethereum bitcoin заработок разработчик ethereum bitcoin куплю tether limited ethereum dark play bitcoin bitcoin xt bitcoin koshelek monero форк bitcoin аналоги bitcoin weekly bitcoin habrahabr
bitcoin analytics сложность monero paypal bitcoin bitcoin шахты flex bitcoin bitcoin описание hyip bitcoin bitcoin habr bitcoin phoenix ethereum asic tether usd стоимость monero cpp ethereum rigname ethereum bitcoin fork продам ethereum bitcoin завести
bitcointalk monero торги bitcoin bitcoin подтверждение хешрейт ethereum bitcoin оборот шахты bitcoin finney ethereum
