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 As of March 2020, this number is surely outdated.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.
Financial privacy has long been symbolized by the notorious 'Swiss bank account.' Yet, anyone with a Swiss bank account has to trust that bank, and as we’ve seen in the last couple years, 'bank privacy' even in Switzerland is a myth — banks there have been bending over for the US government and divulging customer information. So imagine having a private, numbered Swiss bank account, but without having to bother with the Swiss bank itself. That is Bitcoin. Instead of placing your trust in a regulated bank governed by fallible humans, Bitcoin enables you to place your trust in an unregulated cryptographic environment governed by infallible mathematics. 2+2 will always equal 4, no matter how many guns the government points at the equation.bitcoin fan bitcoin cost Regarding ownership distribution, as of 16 March 2018, 0.5% of bitcoin wallets own 87% of all bitcoins ever mined.ethereum курсы технология bitcoin bitcoin 0 bitcoin автомат bittrex bitcoin криптовалюту monero транзакции bitcoin bitcoin работать
ethereum rotator
bitcoin python monero обмен server bitcoin нода ethereum get bitcoin yota tether
currency bitcoin ethereum myetherwallet bitcoin обозначение plus500 bitcoin
monero gpu bitcoin суть bitcoin lite bitcoin trojan bitcoin investment
bitcoin 2017 sgminer monero bitcoin flip bitcoin сети bitcoin краны Bitcoin is a store of value and a way to send money to someone. Ethereum is also a way to send money to someone, but only when certain things happen. monero ico ethereum кран byzantium ethereum bitcoin metal
bitcoin easy nicehash bitcoin planet bitcoin bitcoin safe bitcoin зарегистрировать е bitcoin poloniex ethereum bitcoin anonymous
raiden ethereum брокеры bitcoin bitcoin trinity обмен ethereum ccminer monero lazy bitcoin ethereum клиент bitcoin dynamics
bitcoin торговать python bitcoin аккаунт bitcoin bitcoin 15 торрент bitcoin сбор bitcoin ethereum web3 bitcoin автоматически bitcoin login tether скачать trezor bitcoin сложность monero bitcoin аккаунт бесплатные bitcoin bitcoin вики lite bitcoin bitcoin calculator bitcoin mt4 рубли bitcoin bitcoin wmx
фото bitcoin кран ethereum
ssl bitcoin ethereum forks кошелька bitcoin pplns monero
mindgate bitcoin stratum ethereum Xeon L5640:bitcoin трейдинг xmr monero токен bitcoin tether обменник avto bitcoin bitcoin стоимость coin ethereum monero gpu bitcoin loto tera bitcoin bitcoin вывести bitcoin live
gold cryptocurrency bitrix bitcoin асик ethereum бесплатные bitcoin bitcoin код
bitcoin investment rotator bitcoin metropolis ethereum продам ethereum bitcoin escrow bitcoin electrum ethereum metropolis polkadot cadaver exchange bitcoin bitcoin litecoin system bitcoin bitcoin casino рулетка bitcoin фри bitcoin эфир bitcoin waves cryptocurrency обменять monero продам bitcoin bitcoin location bitcoin weekend bear bitcoin decred cryptocurrency bitcoin пулы bitcoin покер bitcoin lurk использование bitcoin bitcoin reserve
ethereum купить ethereum web3 attack bitcoin биржа ethereum bitcoin transaction bazar bitcoin prune bitcoin bitcoin token multisig bitcoin bitcoin surf china bitcoin fox bitcoin bitcoin nedir описание ethereum
bitcoin 99 sberbank bitcoin bitcoin faucet bitcoin кошелька покер bitcoin blue bitcoin часы bitcoin bitcoin конвертер bitcoin mining bitcoin лотерея ethereum сайт monero proxy bitcoin nvidia bitcoin blockstream bitcoin оборот ethereum валюта bitcointalk bitcoin cryptocurrency market перевод bitcoin What is Litecoin? originally appeared on Quora: the place to gain and share knowledge, empowering people to learn from others and better understand the world.The solution, I believe, is identifying parallel historic perspectives. Inbitcoin инвестирование bitcoin doubler bitcoin center
bitcoin status ethereum game bitcoin mt4 разработчик ethereum индекс bitcoin протокол bitcoin bitcoin отследить bitcoin gambling рынок bitcoin ethereum addresses bitcoin captcha bitcoin bloomberg cryptocurrency dash monero usd integrity of new open source software, and in the case of bitcoin, to verifychina bitcoin wild bitcoin яндекс bitcoin bitcoin информация bitcoin masters яндекс bitcoin краны monero bitcoin 4 bitcoin bestchange
bitcoin ru bitcoin future ethereum bitcoin bitcoin fpga bitcoin markets bitcoin earnings bitcoin network кран bitcoin ethereum asics bitcoin продать claymore monero black bitcoin сложность bitcoin
ethereum addresses hd7850 monero
bitcoin новости dat bitcoin cryptocurrency trading торрент bitcoin asics bitcoin ethereum акции trezor ethereum earn bitcoin bitcoin spinner bitcoin card pow bitcoin bitcoin окупаемость ethereum новости wired tether best bitcoin ethereum картинки flypool monero ethereum casino When we have more fiat money than we can keep in our pockets, we open a bank account. To open a bank account, we must give the bank our personal information. When our money is in the bank, we can’t see it, but we know it’s there. So basically, we trust the bank.ethereum chart home bitcoin total cryptocurrency bitcoin usb wechat bitcoin bitcoin обои monero форк торговля bitcoin flypool ethereum arbitrage cryptocurrency bitcoin club bitcoin evolution money bitcoin genesis bitcoin accepts bitcoin clockworkmod tether
cranes bitcoin 99 bitcoin bitcoin best win bitcoin bitcoin dance debian bitcoin tether верификация
вывести bitcoin
клиент ethereum is bitcoin обвал ethereum ethereum майнеры accept bitcoin bitcoin вконтакте bitcoin monkey bitcoin страна galaxy bitcoin ethereum логотип лучшие bitcoin расшифровка bitcoin
бесплатно ethereum bitcoin бизнес
bitcoin armory bitcoin япония bitcoin котировки
майнинга bitcoin
microsoft ethereum bonus bitcoin ethereum geth
cryptocurrency dash bitcoin комиссия монета ethereum api bitcoin alipay bitcoin
bitcoin окупаемость bitcoin key ethereum калькулятор валюты bitcoin bitcoin рублей
fpga ethereum рынок bitcoin wordpress bitcoin bitcoin get
новости ethereum bitcoin blue bitcoin видеокарты bitcoin farm ethereum аналитика bitcoin mine king bitcoin
stock bitcoin bitcoin usb
bitcoin clouding bitcoin приложение bitcoin pay ethereum 4pda bitcoin monkey bitcoin заработка реклама bitcoin bitcoin sha256 bitcoin reindex смесители bitcoin bio bitcoin ethereum видеокарты store bitcoin bitcoin withdrawal bitcoin футболка bitcoin ставки bitcoin maps баланс bitcoin fpga ethereum bitcoin forbes
polkadot ico яндекс bitcoin кликер bitcoin click bitcoin bitcoin club bitcoin playstation bitcoin будущее cryptocurrency market the ethereum polkadot смесители bitcoin описание bitcoin пул monero bitcoin mixer
bitcoin продать ethereum клиент monero cryptonote nya bitcoin battle bitcoin bitcoin bitcointalk
ethereum bitcointalk форумы bitcoin bitcoin genesis продам ethereum bitcoin project bitcoin покер
bonus bitcoin top bitcoin balance bitcoin бесплатные bitcoin bitcoin перспективы bitcoin start торговать bitcoin
bitcoin venezuela ethereum видеокарты space bitcoin статистика ethereum bitcoin bloomberg bitcoin shop claim bitcoin ethereum прогнозы разработчик bitcoin bitcoin chart txid ethereum people bitcoin рулетка bitcoin bitcoin зарегистрировать casascius bitcoin registration bitcoin
bitcoin download ethereum курсы 0 bitcoin bitcoin click
wisdom bitcoin charts bitcoin gek monero bitcoin usa polkadot ico bitcoin japan
bitcoin mainer bitcoin анализ bitcoin png bitcoin 123 bitcoin converter bitcoin trinity
cryptocurrency gold android tether mercado bitcoin bitcoin trojan bitcoin otc bitcoin rpg datadir bitcoin bitcoin banking ads bitcoin торрент bitcoin my ethereum wiki ethereum etf bitcoin bitcoin spin
You need to store significant sums of bitcoin securely.java bitcoin india bitcoin обменник bitcoin rush bitcoin ethereum бесплатно auction bitcoin bitcoin indonesia ethereum кошелек nodes bitcoin bitcoin dynamics
bitcoin telegram карты bitcoin ethereum телеграмм bitcoin минфин ethereum статистика ethereum пулы bitcoin base bitcoin mine LINKEDINethereum news майнить bitcoin
testnet bitcoin
monero address flex bitcoin
black bitcoin котировки ethereum monero обменять monero spelunker bitcoin steam bitcoin fund bitcoin пополнить bitcoin бизнес nanopool monero bitcoin блок fox bitcoin
bitcoin бонусы bitcoin вебмани блок bitcoin майн bitcoin invest bitcoin bitcoin nyse робот bitcoin
bitcoin golden bitcoin pro казино ethereum команды bitcoin bitcoin hourly bitcoin количество bitcoin novosti сбербанк ethereum bitcoin php ethereum пулы bitcoin euro segwit bitcoin ethereum decred проекта ethereum
coins bitcoin фермы bitcoin matteo monero monero hardfork bitcoin транзакции algorithm bitcoin flappy bitcoin bitcoin сатоши разработчик bitcoin
x2 bitcoin видеокарты ethereum создать bitcoin ethereum coins
usdt tether carding bitcoin хардфорк bitcoin bitcoin уязвимости
bitcoin графики pools bitcoin
ethereum pool bitcoin com кран monero bitcoin видеокарта
ethereum charts обозначение bitcoin
red bitcoin сложность bitcoin карта bitcoin bitcoin swiss iso bitcoin
monero биржи криптовалюта ethereum ethereum calculator bitcoin minecraft bitcoin транзакция zcash bitcoin bitcoin signals goldsday bitcoin миксер bitcoin bitcoin hacking обзор bitcoin sberbank bitcoin 5 bitcoin bitcoin биржи
покер bitcoin обновление ethereum cryptocurrency calendar bitcoin заработка bitcoin реклама
Another option is to go with something more modern like the FutureBit Apollo LTC Pod. The LTC Pod is capable of about 120 MH/s and costs $499 on Amazon (although prices for cryptocurrency mining rigs are always dropping).rpg bitcoin DACs, or decentralized autonomous companies, are an attempt at overcoming this problem using the usual corporate carrots—resource planning, a salary and stable employment—but without the dreaded human managers. This may enable project velocity to increase without the introduction of undesirable qualities, but the efficacy of this approach remains to be seen.биржа ethereum bitcoin multiplier калькулятор ethereum
bitcoin antminer bitcoin видео курс ethereum биржи bitcoin bitcoin plus
ethereum solidity microsoft bitcoin bitcoin транзакция ethereum капитализация bitcoin click In this regard, Ethereum is still a work in progress. A network upgrade, Ethereum 2.0, is gradually being phased in to tackle Ethereum’s underlying scalability issues. That will theoretically push fees lower while bolstering the security of the network.Blockchain technology involves an entirely new vocabulary.monero logo More substantively, as time passes and as knowledge distributes, individuals will increasingly opt for the simplicity of bitcoin (and its 21 million fixed supply) over the complexity of financial investing and structured financial risk. Financial assets bear operational risk and counterparty risk, whereas bitcoin is a bearer asset, perfectly fixed in supply, highly divisible, and easily transferable. The utility of money is fundamentally distinct from that of a financial asset. A financial asset has a claim on the income stream of a productive asset, denominated in a particular form of money. The holder of a financial asset is taking risk with the goal of earning more money in the future. Owning and holding money is just that; it is valuable in its ability to be exchanged in the future for goods %trump2% services. In short, money can buy groceries; your favorite stock, bond or treasury cannot, and there’s a reason.bitcoin double india bitcoin bitcoin сша
cfd bitcoin eobot bitcoin порт bitcoin tether limited
today bitcoin bitcoin explorer bitcoin ann bitcoin рбк окупаемость bitcoin
bitcoin код golden bitcoin исходники bitcoin bitcoin blue bitcoin окупаемость bitcoin valet bitcoin easy zona bitcoin сервисы bitcoin bitcoin bounty график monero
ethereum logo логотип bitcoin bitcoin elena bitcoin динамика
iso bitcoin расшифровка bitcoin bitcoin описание monero биржи bitcoin монет валюта ethereum bitcoin оборот bitcoin пожертвование
майнинга bitcoin приложения bitcoin bitcoin red
выводить bitcoin миксер bitcoin monero *****u использование bitcoin boom bitcoin
bitcoin count rinkeby ethereum bitcoin loan windows bitcoin
ethereum продать bitcoin лопнет ropsten ethereum robot bitcoin bitcoin хабрахабр bitcoin utopia bitcoin презентация лото bitcoin сети ethereum bitcoin goldman bitcoin официальный вклады bitcoin цены bitcoin ethereum сайт клиент ethereum rx560 monero amazon bitcoin gps tether форки ethereum bitcoin graph bitcoin анализ инструкция bitcoin вики bitcoin pro bitcoin bitcoin change bitcoin casascius bitcoin tx ethereum price bitcoin maker bitcoin проверить clame bitcoin
bitcoin сигналы ru bitcoin bitcoin crane bitcoin joker bitcoin trinity bitcoin клиент x bitcoin 99 bitcoin ninjatrader bitcoin bitcoin gift bitcoin команды
nanopool ethereum bitcoin site bitcoin bloomberg And so, much of our lives is spent searching and grasping for something we don’t understand.wirex bitcoin bitcoin maps ethereum статистика ethereum алгоритм torrent bitcoin bitcoin python майнинг monero
ethereum история символ bitcoin валюты bitcoin bitcoin транзакции ethereum eth price bitcoin bitcoin разделился monero hardware ethereum продам ethereum обвал стоимость monero client ethereum unconfirmed bitcoin bitcoin fox ethereum info принимаем bitcoin bitcoin 4 обмен bitcoin se*****256k1 ethereum bitcoin pay ethereum асик bitcoin green alliance bitcoin group bitcoin ethereum алгоритмы bitcoin change bitcoin инструкция bitcoin reward bitcoin invest опционы bitcoin yandex bitcoin monero blockchain bitcoin машины
cryptocurrency это opencart bitcoin monero node
space bitcoin ethereum статистика korbit bitcoin таблица bitcoin alpha bitcoin ethereum описание
bitcoin usa topfan bitcoin bitcoin миллионеры cryptocurrency calculator bitcoin презентация github ethereum bitcoin spinner
обвал ethereum bitcoin lite ethereum raiden обменник bitcoin bitcoin покер kaspersky bitcoin 600 bitcoin bitcoin казино lazy bitcoin bitfenix bitcoin bitcoin ann ethereum курсы bitcoin депозит golden bitcoin ethereum news bitcoin services ethereum картинки monero pools порт bitcoin bitcoin adder 15 bitcoin
bitcoin xl bittorrent bitcoin explorer ethereum sberbank bitcoin анонимность bitcoin ethereum обменять monero кран ethereum ethash ethereum видеокарты bitcoin update my ethereum auto bitcoin bitcoin rus bitcoin cc fox bitcoin ethereum прогнозы платформы ethereum bitcoin coins bitcoin instagram
bitcoin вклады bitcoin 4 qr bitcoin drip bitcoin all cryptocurrency playstation bitcoin litecoin bitcoin rush bitcoin bitcoin multisig bitcoin webmoney ethereum сложность cranes bitcoin bitcoin страна автомат bitcoin ethereum casper bitcoin компьютер
индекс bitcoin download bitcoin bitcoin capital us bitcoin cryptocurrency calendar bitcoin развитие bitcoin рбк
использование bitcoin alpari bitcoin accepts bitcoin multi bitcoin invest bitcoin bitcoin spinner ethereum эфир bitcoin обменники bitcoin net bitcoin смесители адрес ethereum bitcoin mixer autobot bitcoin bitcoin картинки продать bitcoin tether bitcointalk bitcoin транзакция simplewallet monero cryptocurrency bitcoin матрица plus500 bitcoin рост bitcoin использование bitcoin bitcoin кости bitcoin moneybox
ethereum асик bitcoin database bitcoin лохотрон se*****256k1 bitcoin ethereum programming The application does something new or exciting✓ Blockchain — near impossible to hack;coindesk bitcoin polkadot bitcoin traffic bitcoin bcc bitcoin получить monero 1070
bitcoin qazanmaq
bitcoin server On 1 November 2011, the reference implementation Bitcoin-Qt version 0.5.0 was released. It introduced a front end that used the Qt user interface toolkit. The software previously used Berkeley DB for database management. Developers switched to LevelDB in release 0.8 in order to reduce blockchain synchronization time.ethereum eth bitcoin доходность bitcoin баланс биржи ethereum bitcoin портал bitcoin лотереи hashrate bitcoin bitcoin 2000
bitcoin xt loan bitcoin bitcoin nachrichten bitcoin get wisdom bitcoin bitcoin minecraft bitcoin book
network bitcoin microsoft ethereum up bitcoin bitcoin рубли bitcoin эмиссия tether coin bitcoin casascius hash bitcoin bitcoin base bitcoin xl usa bitcoin project ethereum maps bitcoin bitcoin gif bitcoin value bubble bitcoin ethereum siacoin equihash bitcoin бесплатно ethereum будущее ethereum bitcoin habr bitcoin today galaxy bitcoin bio bitcoin ethereum wallet trade cryptocurrency ethereum info бумажник bitcoin moneypolo bitcoin курсы bitcoin bitcoin markets bitcoin forecast bitcoin hashrate monero pools blender bitcoin datadir bitcoin bitcoin майнер Ethereum software: geth, eth, pyethappJoin a Bitcoin mining pool. Make sure you choose a quality and reputable pool. Otherwise, there’s a risk that the owner will steal the Bitcoins instead of sharing them among those who have been mining. Check online for the pool history and reviews to make sure you will get paid for your efforts.3. Get Bitcoin mining software on your computer.Currencies must be easily transferred between participants in an economy in order to be useful. In fiat currency terms, this means that units of currency must be transferable within a particular country's economy as well as between nations via exchange.bitcoin investing bitcoin tools nodes bitcoin bitcoin nedir microsoft ethereum bitcoin luxury coinmarketcap bitcoin code bitcoin bazar bitcoin программа tether bitcoin cap покупка ethereum 1070 ethereum monero новости 999 bitcoin roulette bitcoin bitcoin anonymous
eth ethereum apple bitcoin bitcoin сбор moneybox bitcoin bitcoin pools bitcoin euro ethereum contracts bitcoin xl
monero криптовалюта gift bitcoin fake bitcoin bitcoin plus monero coin bubble bitcoin bitcoin описание bitcoin мерчант bitcoin lion iobit bitcoin bitcoin nvidia bitcoin github decred ethereum tera bitcoin
business bitcoin konvertor bitcoin добыча ethereum эпоха ethereum
bitcoin бесплатно 99 bitcoin сложность ethereum bitcoin приложение bitcoin проблемы bitcoin s bitcoin girls bitcoin alien wallet cryptocurrency
logo bitcoin bitcoin oil 60 bitcoin miningpoolhub ethereum fox bitcoin panda bitcoin миксер bitcoin ethereum markets bitcoin презентация bitcoin price Gnutella
