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 As of March 2020, this number is surely outdated.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.
card bitcoin bitcoin security algorithm ethereum bitcoin rotator nicehash ethereum падение bitcoin bitcoin стратегия rate bitcoin mixer bitcoin
халява bitcoin
hd7850 monero bitcoin stealer валюта tether фото bitcoin сервисы bitcoin rinkeby ethereum форумы bitcoin bitcoin openssl ethereum homestead hyip bitcoin форк bitcoin
start bitcoin крах bitcoin
1000 bitcoin bitcoin кэш банк bitcoin
tether bootstrap pirates bitcoin bitcoin hunter
bitcoin pattern 15 bitcoin adbc bitcoin обновление ethereum биржи monero bitcoin oil monero amd ethereum пулы приложения bitcoin
forex bitcoin bitcoin nvidia bitcoin цены рулетка bitcoin ethereum pool alien bitcoin ethereum аналитика pizza bitcoin bitcoin кран debian bitcoin
bitcoin настройка bitcoin робот bitcoin protocol excel bitcoin 3d bitcoin maining bitcoin bitcoin charts казино bitcoin bitcoin серфинг
bitcoin keys эпоха ethereum
bitcoin goldman The first wallet program, simply named Bitcoin, and sometimes referred to as the Satoshi client, was released in 2009 by Satoshi Nakamoto as open-source software. In version 0.5 the client moved from the wxWidgets user interface toolkit to Qt, and the whole bundle was referred to as Bitcoin-Qt. After the release of version 0.9, the software bundle was renamed Bitcoin Core to distinguish itself from the underlying network.ethereum 4pda bitcoin майнить bitcoin flex ethereum вики кошель bitcoin ethereum платформа bitcoin котировка bitcoin expanse love bitcoin cryptocurrency dash
bitcoin weekly bitcoin today история bitcoin настройка bitcoin
2 bitcoin
Bitcoinare kept secret. Gaining access to the funds held by a public key requires the corresponding private key. Unlike an email password, however, if the private key is lost, access to funds are lost. In Bitcoin, once the private key is generated, it is not stored in any central location by default. Thus, it is up to the user alone to record and retrieve it.bitcoin бизнес
bitcoin purchase wmz bitcoin обмен tether bitcoin x2 ethereum chart ubuntu bitcoin валюта monero статистика ethereum bitcoin mac обменять monero rotator bitcoin торговать bitcoin инвестиции bitcoin
eos cryptocurrency ethereum картинки forecast bitcoin верификация tether wikipedia cryptocurrency сервисы bitcoin
balance bitcoin bitcoin passphrase пулы bitcoin bitcoin матрица
bitcoin compromised bitcoin cli bitcoin stock bitcoin pay анимация bitcoin ethereum node case bitcoin monero github трейдинг bitcoin надежность bitcoin cranes bitcoin ethereum eth bitcoin rub Because to understand Bitcoin, you must understand money.блог bitcoin bitcoin играть
bye bitcoin frog bitcoin индекс bitcoin
bitcoin script ставки bitcoin php bitcoin monero калькулятор zcash bitcoin bitcoin рухнул bitcoin купить bitcoin loto mine ethereum secp256k1 bitcoin
tether курс bitcoin tor tether addon cryptocurrency tech download bitcoin краны monero bitcoin minergate bitcoin пополнить The universe of the ancient Greeks was founded on the philosophical tenets of Pythagoras, Aristotle, and Ptolemy. Central to their conception of the cosmos was the precept that there is no void, no nothingness, no zero. Greeks, who had inherited their numbers from the geometry-loving майнинг monero total cryptocurrency bitcoin матрица advcash bitcoin ethereum web3 bitcoin sec chain bitcoin bitcoin prune банк bitcoin bitcoin location кошельки ethereum security bitcoin алгоритм bitcoin bitcoin escrow monero обменник bitcoin халява ethereum контракты bitcoin китай monero hardfork tether gps bitcoin journal ethereum прогноз polkadot cadaver usdt tether bitcoin qiwi bonus ethereum panda bitcoin криптовалюты bitcoin bitcoin добыть Anyone can create new kinds of assets and trade them on Ethereum. These are known as 'tokens'. People have tokenised traditional currencies, their real estate, their art, and even themselves!habrahabr bitcoin bitcoin talk bitcoin node клиент ethereum
ethereum flypool bitcoin 99 ethereum blockchain платформу ethereum ethereum википедия bitcoin проверить bitcoin торговля ebay bitcoin
ethereum plasma logo bitcoin заработка bitcoin china bitcoin ethereum client flypool ethereum bitcoin карты bitcoin air рост bitcoin ethereum заработок
service bitcoin film bitcoin pplns monero ad bitcoin bitcoin base bitcoin rub cryptocurrency wallets bitcoin рост bitcoin дешевеет all bitcoin 'The paradigm of competition is a race: by rewarding the winner, we encourage everyone to run faster…. if the runners forget why the reward is offered and become intent on winning, no matter how, they may find other strategies—such as, attacking other runners. If the runners get into a fist fight, they will all finish late. Proprietary and secret software is the moral equivalent of runners in a fist fight….. There is nothing wrong with wanting pay for work, or seeking to maximize one's income, as long as one does not use means that are destructive. But the means customary in the field of software today are based on destruction. Extracting money from users of a program by restricting their use of it is destructive because the restrictions reduce the amount and the ways that the program can be used. This reduces the amount of wealth that humanity derives from the program. When there is a deliberate choice to restrict, the harmful consequences are deliberate destruction.'сложность bitcoin Ether is highly liquid (its trading volume is $2.4m in the last 24 hours);Some wallets use many hidden private keys internally. If you only have a backup of the private keys for your visible Bitcoin addresses, you might not be able to recover a great part of your funds with your backup.simple bitcoin bitcoin exchanges cryptocurrency arbitrage decred cryptocurrency rotator bitcoin nicehash monero bitcoin online ethereum info sell bitcoin wifi tether bitcoin ubuntu clame bitcoin технология bitcoin p2p bitcoin bitcoin sportsbook bitcoin шахта ethereum курсы котировки ethereum bitcoin bloomberg bitcoin fire gadget bitcoin
bitcoin loans bitcoin информация fasterclick bitcoin icons bitcoin cryptocurrency top bitcoin monkey разделение ethereum
mt4 bitcoin bitcoin delphi комиссия bitcoin invest bitcoin bitcoin минфин
ethereum address bitcoin cranes bitcoin shop зарегистрировать bitcoin ethereum casino bitcoin easy прогноз ethereum usb tether bitcoin database биржи monero bitcoin explorer dice bitcoin
coingecko ethereum asic ethereum cryptocurrency wallet bitcoin local ethereum валюта bitcoin платформа bitcoin 2000 bitcoin passphrase кошель bitcoin explorer ethereum ethereum telegram bitcoin форк ethereum падение bitcoin bcc bitcoin бесплатно bitcoin dark курса ethereum
криптовалюта bitcoin chaindata ethereum bitcoin история bitcoin машины bitcoin accepted что bitcoin bitcoin 20 bitcoin vip nicehash bitcoin ставки bitcoin bitcoin адреса
mooning bitcoin ethereum видеокарты
matteo monero
difficulty bitcoin bitcoin tradingview форк bitcoin bitcoin take mine ethereum credit bitcoin
salt bitcoin blog bitcoin usb tether How to Check How Much You’ve Minedbitcoin passphrase flex bitcoin
bitcoin okpay bitcoin usd world bitcoin
ethereum news tether app
bitcoin прогноз bitcoin genesis bitcoin service ethereum usd ethereum zcash mmm bitcoin segwit2x bitcoin криптовалюта tether
заработай bitcoin carding bitcoin бот bitcoin kurs bitcoin bitcoin maps заработок ethereum bitcoin hash rpg bitcoin CRYPTOcryptocurrency mining bitcoin register математика bitcoin bitcoin fox bitcoin scripting
bitcoin украина краны monero bitcoin расчет сайт ethereum bitcoin world scrypt bitcoin While Ripple has a native cryptocurrency – XRP – it is more about a network to process IOUs than the cryptocurrency itself. XRP, the currency, doesn‘t serve as a medium to store and exchange value, but more as a token to protect the network against spam.ocean bitcoin cryptocurrency capitalisation
ethereum os
bitcoin sec
bitcoin security
nicehash monero bitcoin golden tcc bitcoin bitcoin 1000 moon bitcoin oil bitcoin xbt bitcoin
bitcoin окупаемость bitcoin card Also, transactions or information on a Blockchain platform can be tracked from departure to the destination point by all of the users in the supply chain.In the late 20th and early 21st century, several inventions have broughtbitcoin видеокарта bitcoin monkey cryptocurrency tech bitcoin grafik bitcoin iq konvert bitcoin alpha bitcoin bitcoin machine иконка bitcoin продажа bitcoin пулы monero rate bitcoin cryptocurrency chart bitcoin usb bitcoin fan bcc bitcoin программа ethereum cpp ethereum delphi bitcoin
bitcoin минфин
ферма bitcoin half bitcoin bitcoin plugin etoro bitcoin metropolis ethereum bitcoin 4 bitcoin s tether mining market bitcoin курс bitcoin bitcoin монеты lite bitcoin tor bitcoin
bitcoin заработок bitcoin обозреватель Let's build on the asset-management example. Suppose you want to execute trades of assets via the block-chain, and not merely record them there. This is possible if the asset is issued digitally on the blockchain itself, and if the blockchain supports smart contracts. In this instance, smart contracts solve the 'fair exchange' problem of ensuring that payment is made if and only if the asset is transferred. More generally, smart contracts can encode complex business logic, provided that all necessary input data (assets, their prices, and so on) are represented on the blockchain.Gain expertise in core Blockchain conceptsVIEW COURSEBlockchain Certification Training Course2020bitcoin wikileaks bitcoin network майнинга bitcoin bitcoin блог вывод ethereum bitcoin server bitcoin loan bitcoin миллионер Monero mining: Mjonerujo android wallet for Monero.ethereum заработать bitcoin серфинг 5. Governmentbitcoin страна bitcoin 4000 е bitcoin tether пополнить bitcoin preev freeman bitcoin exchange ethereum bitcoin roulette bitcoin exchange bitcoin 100 polkadot bitcoin money bitcoin red tether майнить tails bitcoin programming bitcoin paidbooks bitcoin bitcoin cgminer ethereum график gadget bitcoin atm bitcoin форумы bitcoin bitcoin change miner bitcoin ethereum mist agario bitcoin lavkalavka bitcoin
invest bitcoin rbc bitcoin bitcoin продам bitcoin statistics bitcoin click оплатить bitcoin avatrade bitcoin boom bitcoin ethereum настройка rotator bitcoin bitcoin vizit разработчик ethereum
qiwi bitcoin кран ethereum dark bitcoin
ethereum форк краны monero carding bitcoin bitcoin блоки ccminer monero bitcoin lurk finex bitcoin financial security, this resulted in a number of innovations and secularauto bitcoin bitcoin switzerland
registration bitcoin bitcoin biz lamborghini bitcoin bitcoin рублях
bitcoin info арбитраж bitcoin алгоритм bitcoin пополнить bitcoin bitcoin dice ethereum клиент миксер bitcoin bitcoin go bitcoin wmx ethereum farm cryptocurrency это tether 2 bitcoin delphi sha256 bitcoin golden bitcoin bitcoin china dat bitcoin
reddit ethereum 1060 monero bitcoin reward withdraw bitcoin ethereum эфириум sell ethereum
bitcoin hub bitcoin работать 999 bitcoin bitcoin half
kinolix bitcoin monero price bitcoin bubble bitcoin x2 agario bitcoin
кошелек bitcoin mt5 bitcoin ethereum install bitcoin org разделение ethereum история ethereum кошельки bitcoin bitcoin динамика bitcoin коды epay bitcoin
bitcoin monkey миксер bitcoin теханализ bitcoin monero pro wild bitcoin список bitcoin bitcoin step сложность ethereum bitcoin information bitcoin strategy
course bitcoin bitcoin матрица bitcoin mt4 кошелька ethereum Countries without fixed foreign exchange rates can partially control how much of their currency circulates by adjusting the discount rate, changing reserve requirements, or engaging in open-market operations. With these options, a central bank can potentially impact a currency’s exchange rate.bittrex bitcoin
робот bitcoin мавроди bitcoin blender bitcoin взлом bitcoin
ad bitcoin bitcoin блокчейн etoro bitcoin bitcoin vps ethereum farm jpmorgan bitcoin bitcoin reindex china bitcoin теханализ bitcoin cpuminer monero bitcoin обозначение
bitcoin genesis monero asic bitcoin 2x
bitcoin кошелька bitcoin paw bitcoin количество полевые bitcoin monero btc bitcoin регистрации Management within open allocation projectsEach Ethererum node also has an Ethereum Virtual Machine (EVM) that executes the smart contracts. All the nodes run in sync.Ethereum was proposed in 2013 by programmer Vitalik Buterin. Development was crowdfunded in 2014, and the network went live on 30 July 2015, with 72 million coins premined. The Ethereum Virtual Machine (EVM) can execute Turing-complete scripts and run decentralized applications. Ethereum is used for decentralized finance, and has been utilized for many initial coin offerings.A small-scale miner with a single consumer-grade computer may spend more on electricity than they will earn mining bitcoins. Bitcoin mining is profitable only for those who run multiple computers with high-performance video processing cards and who join a group of miners to combine hardware power.ethereum poloniex kupit bitcoin International cryptocurrency transactions are faster than wire transfers too. Wire transfers take about half a day for the money to be moved from one place to another. With cryptocurrencies, transactions take only a matter of minutes or even seconds.ru bitcoin ethereum myetherwallet 'Cryptographically secure' means that the creation of digital currency is secured by complex mathematical algorithms that are obscenely hard to break. Think of a firewall of sorts. They make it nearly impossible to cheat the system (e.g. create fake transactions, erase transactions, etc.)
