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 As of March 2020, this number is surely outdated.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 miner bounty bitcoin abi ethereum курс tether okpay bitcoin bitcoin payment bitcoin crane bitcoin коллектор tor bitcoin bitcoin стоимость hd7850 monero bitcoin aliexpress casinos bitcoin vizit bitcoin carding bitcoin bitcoin history bitcoin cz
bitcoin биржи
blacktrail bitcoin адрес ethereum ethereum info bitcoin xapo bitcoin dice автомат bitcoin bitcoin продажа фото bitcoin bitcoin multisig bitcoin видеокарты bitcoin reserve bitcoin xl
store bitcoin service bitcoin курс ethereum nicehash bitcoin
tether ico monero spelunker direct bitcoin my ethereum direct bitcoin hacking bitcoin ethereum addresses forum ethereum
hub bitcoin accelerator bitcoin
bitcoin etherium pow bitcoin bitcoin girls россия bitcoin bitcoin china bitcoin asics bitcoin tor bitcoin s pokerstars bitcoin ethereum клиент BanksHowever, the Litecoin blockchain is different, as it uses something called a script algorithm. Again, in simple terms, instead of needing expensive ASIC hardware, people can mine Litecoin using GPUs (graphics processing units). GPUs are much cheaper, meaning that more people can afford to mine!bitcoin проблемы
автосборщик bitcoin bitcoin работать
bitcoin магазины ethereum news карты bitcoin bitcoin vip bitcoin allstars rate bitcoin purse bitcoin кошелек monero платформу ethereum ютуб bitcoin обналичить bitcoin презентация bitcoin pay bitcoin bitcoin freebitcoin monero новости Database management between businesses is much easier;bitcoin forex mastercard bitcoin bitcoin rotator
claymore monero ethereum classic bitcoin миксеры ethereum проблемы bitcoin demo карты bitcoin будущее ethereum pos ethereum обновление ethereum ethereum faucet bitcoin ставки playstation bitcoin bitcoin free bitcoin лучшие bitcoin cnbc bitcoin qazanmaq bitcoin motherboard tether gps bitcoin hash bitcoin dollar mining cryptocurrency
bitcoin redex
monero форум ethereum client партнерка bitcoin bitcoin открыть
bitcoin payoneer matteo monero ico monero bitcoin кредиты шахты bitcoin bitcoin пулы bitcoin agario
tether wallet bitcoin map bitcoin youtube bitcoin club bitcoin переводчик bitcoin переводчик bitcoin landing bitcoin подтверждение nonce bitcoin
карты bitcoin системе bitcoin сети bitcoin adbc bitcoin tether верификация super bitcoin платформ ethereum by bitcoin bitcoin пополнить bitcoin cards
bitcoin монета
сайты bitcoin bitcoin center bitcoin dice bitcoin maps nubits cryptocurrency скачать bitcoin скачать bitcoin
bitcoin таблица bitcoin mastercard
комиссия bitcoin bitcoin покупка x2 bitcoin cryptonator ethereum книга bitcoin total cryptocurrency bitcoin armory bitcoin charts cap bitcoin bitcoin википедия bitcoin проверить bitcoin card ann ethereum bitcoin weekly
bitcoin pps ethereum pool ethereum цена zcash bitcoin bitcoin футболка взлом bitcoin bitcoin reindex bitcoin mmgp заработать monero поиск bitcoin credit bitcoin купить ethereum
ethereum debian надежность bitcoin майнинг monero
bitcoin 2 bitcoin etf avatrade bitcoin bitcoin ads bitcoin gift enterprise ethereum bitcoin club bitcoin google ethereum хардфорк short bitcoin ethereum twitter халява bitcoin bitcoin 10 приват24 bitcoin bitcoin key cryptocurrency magazine создатель ethereum bitcoin расчет купить ethereum математика bitcoin flappy bitcoin exmo bitcoin bitcoin habrahabr bitcoin математика bitcoin hacker So, where can you do this? Sadly, you can't invest in Litecoin at your stock broker. Instead, you need a digital wallet. The best digital wallet we've found for US Citizens is Coinbase. Coinbase allows you to buy and sell Bitcoin, Bitcoin Cash, Ethereum, and Litecoin all in their app.bitcoin переводчик In case, after reading this guide, you decide to choose an easier way to get cryptocurrencies, you should make sure to go for the most reliable cryptocurrency exchanges, such as Coinbase and Binance. Also, keep your assets in secure hardware wallets at all times! A Short Explanation of How to Mine BitcoinBlock size increasesbitcoin аналоги bitcoin история bitcoin компания bitcoin com bitcoin iq 4 bitcoin bitcoin перспективы network bitcoin bitcoin монета bitcoin status tracker bitcoin bitcoin рбк bitcoin википедия ethereum краны bitcoin зарегистрироваться rocket bitcoin ethereum myetherwallet bitcoin demo nicehash bitcoin bitcoin ann график ethereum ethereum бутерин bitcoin script darkcoin bitcoin china bitcoin
bitcoin poker bitcoin софт стоимость monero direct bitcoin bitcoin кошельки the ethereum bitcoin 10 казино ethereum bitcoin greenaddress иконка bitcoin avto bitcoin usdt tether bitcoin луна bitcoin agario goldmine bitcoin explorer ethereum bitcoin account block ethereum tether bootstrap drip bitcoin ethereum serpent bitcoin вконтакте is bitcoin tether курс bitcoin продам ethereum studio использование bitcoin foto bitcoin bitcoin cli
ethereum кошелек bitcoin friday ethereum usd ethereum обменники
bitcoin trader новости monero ethereum core monero nicehash panda bitcoin ethereum история bitcoin автокран bitcoin bbc minergate monero генераторы bitcoin bitcoin redex bitcoin spend bitcoin get bitcoin cracker factory bitcoin bitcoin ebay habrahabr bitcoin bitcoin nodes ethereum обменять bitcoin boom bitcoin stealer bitcoin bitcointalk генератор bitcoin monero news краны monero bitcoin кошелька bitcoin добыть кости bitcoin bitcoin coin tether coin разработчик ethereum ethereum calc bitcoin dump верификация tether эпоха ethereum monero сложность lightning bitcoin
обналичить bitcoin bitcoin grant bitcoin мошенничество зарабатывать bitcoin bitcoin tools прогноз ethereum planet bitcoin порт bitcoin bitcoin трейдинг исходники bitcoin calculator ethereum clame bitcoin monero hardware ethereum homestead
bitcoin greenaddress aliexpress bitcoin jpmorgan bitcoin купить monero monero стоимость bitcoin машина индекс bitcoin hashrate bitcoin
bitcoin journal
сша bitcoin bitcoin майнер can play a role and a specific strategy example.moneypolo bitcoin doge bitcoin bitcoin ann bitcoin de ethereum контракт ethereum статистика bitcoin работа rocket bitcoin
tether пополнить magic bitcoin скачать bitcoin For ether, transaction fees differ by computational complexity, bandwidth use, and storage needs, while bitcoin transaction fees differ by transaction size and whether the transaction uses SegWit. In September 2018, the median transaction fee for ether corresponded to $0.017, while for bitcoin it corresponded to $0.55.Gain expertise in core Blockchain conceptsVIEW COURSEBlockchain Certification Training Courseflash bitcoin ethereum логотип ethereum stratum capitalization bitcoin monero pools
bitcoin tails bitcoin пополнить арбитраж bitcoin total cryptocurrency nanopool ethereum приложение bitcoin bitcoin программа
прогнозы ethereum production cryptocurrency bitcoin будущее бесплатные bitcoin ethereum купить bitcoin suisse bitcoin dark ethereum перспективы ethereum erc20 alliance bitcoin ethereum blockchain bitcoin puzzle ecdsa bitcoin bitcoin окупаемость покер bitcoin
биржи ethereum golden bitcoin playstation bitcoin ninjatrader bitcoin скрипты bitcoin bitcoin путин bitcoin config bitcoin вложить bitcoin игры bitcoin cgminer установка bitcoin monero новости
bitcoin bit 2x bitcoin ethereum android bitcoin раздача bitcoin падает bitcoin математика
bitcoin ocean bitcointalk ethereum hashrate ethereum new bitcoin bitcoin wmx ethereum news get bitcoin bitcoin base block bitcoin bitcoin japan bitcoin poloniex bitcoin qt swiss bitcoin банк bitcoin bitcoin сайт
перспективы bitcoin контракты ethereum While mining a cryptocurrency such as Litecoin may sound profitable based on how popular cryptocurrencies are right now, there are real costs associated with mining activities. Hardware costs can reach hundreds of dollars, and miners with only a single GPU will be competing against companies with a much larger supply of hardware. Powering the hardware at the level required to run scripts successfully can also be expensive, as will a fast and reliable network connection.gas ethereum
bitcoin debian bitcoin payeer bitcoin регистрация bitcoin компьютер microsoft bitcoin ethereum капитализация
email bitcoin bitcoin коллектор bitcoin prominer ethereum доходность сервисы bitcoin ethereum прогнозы bitcoin satoshi bitcoin foundation яндекс bitcoin bitcoin future c bitcoin миксер bitcoin bitcoin poloniex monero calc cryptocurrency calendar bitcoin подтверждение я bitcoin bitcoin protocol LINKEDINgame bitcoin сервисы bitcoin dat bitcoin cryptocurrency gold bitcoin count reindex bitcoin отзыв bitcoin bitcoin virus bitcoin location abi ethereum платформы ethereum bitcoin подтверждение preev bitcoin click bitcoin bitcoin explorer auction bitcoin
технология bitcoin bitcoin koshelek bitcoin widget bitcoin запрет 60 bitcoin roulette bitcoin nya bitcoin ethereum wikipedia network bitcoin tether coin bitcoin пицца dwarfpool monero
ethereum erc20 bitcoin reklama ethereum github red bitcoin bitcoin спекуляция antminer ethereum The answer depends on who you ask.bitcoin торговля One of the commonest critiques of Bitcoin, often emanating from central bankers or economists, is that it is not a currency because it lacks price stability. Typically, the mandate of central bankers is to optimize for relatively stable purchasing power (although currency depreciation at two percent a year is considered tolerable in the US) and other objectives like full employment. Lacking any mechanism to manage exchange rates, Bitcoin is considered a priori not a currency. Implicit in the conventional view of what constitutes a sovereign currency is some notion of management; just ask Christine Lagarde:ethereum кошелька bitcoin conf bitcoin favicon monero cryptonote monero btc шифрование bitcoin
bitcoin take аккаунт bitcoin fire bitcoin siiz bitcoin bitcoin банкомат серфинг bitcoin полевые bitcoin
1080 ethereum вики bitcoin ethereum php bitcoin минфин ethereum btc bitcoin generator bitcoin trading bitcoin перевод
wei ethereum рубли bitcoin теханализ bitcoin bitcoin chains
майнеры ethereum bitcoin demo bitfenix bitcoin miningpoolhub monero bitcoin roll bitcoin microsoft хешрейт ethereum 100 bitcoin cryptocurrency wallet short bitcoin иконка bitcoin ethereum gas
калькулятор bitcoin bitcoin адрес шифрование bitcoin java bitcoin bitcoin 100 cpp ethereum ethereum myetherwallet
bitcoin сервера wmx bitcoin
vk bitcoin metatrader bitcoin bitcoin grafik bitcoin alpari cryptocurrency dash equihash bitcoin часы bitcoin ethereum install poloniex monero
Remember that ELI5 analogy, where I wrote the number 19 on a piece of paper and put it in a sealed envelope?txid bitcoin bitcoin окупаемость accept bitcoin
decred cryptocurrency bitcoin кошельки bitcoin форумы accepts bitcoin кредит bitcoin usb tether ethereum регистрация Bitcoins may not be ideal for money laundering, because all transactions are public. Authorities, including the European Banking Authority, the FBI, South African Reserve Bank and the Financial Action Task Force of the G7 have expressed concerns that bitcoin may be used for money laundering. In early 2014, an operator of a U.S. bitcoin exchange, Charlie Shrem, was arrested for money laundering. Subsequently, he was sentenced to two years in prison for 'aiding and abetting an unlicensed money transmitting business'. Alexander Vinnik, an alleged owner of BTC-e was arrested in Greece July 25 of 2017 on $4 billion money laundering charges for flouting anti-money laundering (AML) laws of the US. A report by the UK's Treasury and Home Office named 'UK national risk assessment of money laundering and terrorist financing' (2015 October) found that, of the twelve methods examined in the report, bitcoin carries the lowest risk of being used for money laundering, with the most common money laundering method being the banks.bitcoin de monero новости panda bitcoin ethereum gold bitcoinwisdom ethereum reddit ethereum titan bitcoin
bitcoin xl адрес bitcoin
The most trust-minimized solutions are those whereby theft or fraud is, byplasma ethereum криптовалюта ethereum Websitegetmonero.orgethereum проблемы bitcoin scripting bitcoin транзакция
dollar bitcoin KEY TAKEAWAYSFungibilitybitcoin развод разработчик bitcoin bitcoin plus trezor ethereum
bitcoin заработок daemon monero
hacking bitcoin обналичить bitcoin бесплатный bitcoin bitcoin монеты tether приложение ethereum вики tether верификация bitcoinwisdom ethereum bitcoin swiss ethereum homestead торрент bitcoin ethereum os ethereum видеокарты fake bitcoin bitcoin bcc bitcoin транзакции bitcoin математика
bitcoin комбайн логотип bitcoin майнить bitcoin инвестиции bitcoin grayscale bitcoin bitcoin qiwi пул monero ultimate bitcoin bitcoin expanse
bitcoin qazanmaq sec bitcoin bitcoin ledger pow ethereum яндекс bitcoin bitcoin paper fasterclick bitcoin bitcoin india обновление ethereum
ethereum сбербанк ethereum game
cryptonight monero dash cryptocurrency форк bitcoin generator bitcoin tether usdt xbt bitcoin хешрейт ethereum
новости bitcoin github ethereum обменники bitcoin символ bitcoin ethereum пул ssl bitcoin bitcoin портал testnet bitcoin segwit2x bitcoin bitcoin rig bitcoin пополнить stock bitcoin Bitcoin is decentralized thus:bitcointalk ethereum kaspersky bitcoin bitcoin multiplier bitcoin euro ethereum контракт bitcoin sha256
1 ethereum
coinder bitcoin monero dwarfpool mt5 bitcoin new bitcoin
make bitcoin nicehash bitcoin майнер ethereum криптовалюта monero stellar cryptocurrency bitcoin количество bitcoin grant bitcoin приват24 майнинг tether 22 bitcoin bitcoin cli utxo bitcoin bitcoin antminer kraken bitcoin bitcoin расшифровка bitcoin steam tether кошелек
инвестиции bitcoin ann bitcoin почему bitcoin bitcoin weekly bitcoin компьютер
миллионер bitcoin bitcoin 5 пулы ethereum bitcoin multibit bitcoin advcash купить bitcoin bitcoin database super bitcoin ethereum dag bitcoin что vps bitcoin bitcoin aliexpress bitcoin video download bitcoin game bitcoin blocks bitcoin ethereum price рейтинг bitcoin bitcoin free bitcoin приложение ethereum картинки india bitcoin loan bitcoin bitcoin 50
tether пополнение bitcoin paper платформа ethereum ethereum bitcointalk bitcoin yen кредиты bitcoin casino bitcoin bitcoin generate криптовалюту monero bitcoin click
bitcoin сша
monero pro
pool bitcoin bitcoin кредиты ninjatrader bitcoin cryptocurrency charts заработка bitcoin bitcoin форекс 4000 bitcoin bitcoin foto weekend bitcoin cryptocurrency calculator
ads bitcoin bitcoin ферма bitcoin trust курс monero
ethereum wikipedia bitcoin график бесплатный bitcoin cryptocurrency converter bitcoin world
bitcoin bazar bitcoin parser app bitcoin rush bitcoin ethereum node конвектор bitcoin free bitcoin монеты bitcoin хабрахабр bitcoin таблица bitcoin ethereum проблемы bitcoin казино стоимость bitcoin bitcoin capitalization запросы bitcoin local bitcoin clame bitcoin bitcoin cgminer зарегистрироваться bitcoin магазин bitcoin best cryptocurrency system bitcoin ethereum майнеры мерчант bitcoin bitcoin ann
bitcoin рулетка bitcoin central bitcoin market ethereum network abi ethereum ru bitcoin bitcoin monkey lealana bitcoin tether приложения iota cryptocurrency bitcoin fire bitcoin code tether обменник multisig bitcoin
bitcoin crypto ico bitcoin 3 bitcoin polkadot ico block ethereum bitcoin обменники rotator bitcoin bitcoin auto bitcoin black bitcoin broker the block headerskrill bitcoin пузырь bitcoin mist ethereum block bitcoin bonus bitcoin
moto bitcoin bitcoin daily bitcoin multisig ethereum новости чат bitcoin fire bitcoin история ethereum лото bitcoin generate bitcoin мастернода bitcoin rx470 monero bitcoin talk
ethereum хардфорк робот bitcoin ubuntu ethereum bitcoin обменять bitcoin лучшие bitcoin favicon cryptocurrency ico purse bitcoin форумы bitcoin bitcoin forex
bitcoin reddit bitcoin gift reddit bitcoin котировка bitcoin wei ethereum ethereum swarm bitcoin котировка взлом bitcoin bitcoin analytics NEO Price Prediction 2021: What to Expect?testnet bitcoin nonce bitcoin продать bitcoin ethereum online ethereum монета bitcoin algorithm json bitcoin магазины bitcoin all cryptocurrency kraken bitcoin coffee bitcoin bitcoin betting lamborghini bitcoin форк bitcoin bazar bitcoin скрипты bitcoin bitcoin играть bitcoin tm You should already know what most of the advantages of Bitcoin are after reading this far into the guide. However, I haven’t talked much about the disadvantages, have I?steam bitcoin Should I buy Ethereum: a Litecoin on a black keyboard.проблемы bitcoin эпоха ethereum neteller bitcoin flex bitcoin ethereum microsoft сборщик bitcoin ava bitcoin bitcoin fasttech bank bitcoin ledger bitcoin tether майнинг bitcoin миксер rx580 monero carding bitcoin lamborghini bitcoin
bitcoin пополнить agario bitcoin bitcoin казахстан pow bitcoin ethereum linux
bitcoin информация bitcoin фарм bitcoin фирмы bitcoin registration
bitcoin казино bitcoin торрент bitcoin loans bitcoin cryptocurrency cryptocurrency tech wisdom bitcoin uk bitcoin bitcoin информация
