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 As of March 2020, this number is surely outdated.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.
To be able to answer 'what is Litecoin?', it is important to understand the real-world problem it is trying to solve.
стоимость bitcoin
bitcoin теханализ bitcoin asics dwarfpool monero ethereum chart mining bitcoin ethereum api
monero algorithm legal bitcoin bitcoin update bitcoin torrent bitcoin future bitcoin сети cryptocurrency cryptocurrency reddit bitcoin blue bitcoin карта краны bitcoin mikrotik bitcoin As described by Sompolinsky and Zohar, GHOST solves the first issue of network security loss by including stale blocks in the calculation of which chain is the 'longest'; that is to say, not just the parent and further ancestors of a block, but also the stale descendants of the block's ancestor (in Ethereum jargon, 'uncles') are added to the calculation of which block has the largest total proof of work backing it. To solve the second issue of centralization bias, we go beyond the protocol described by Sompolinsky and Zohar, and also provide block rewards to stales: a stale block receives 87.5% of its base reward, and the nephew that includes the stale block receives the remaining 12.5%. Transaction fees, however, are not awarded to uncles.bitcoin биржи cardano cryptocurrency bitcoin вебмани bitcoin шифрование стоимость monero bitcoin daily bitcoin пул майнер monero bitcoin twitter калькулятор monero bitcoin прогноз bitcoin обозреватель отзывы ethereum bitcoin теханализ ethereum casper bitcoin cash
black bitcoin bitcoin alert bitcoin gambling ферма bitcoin кошельки bitcoin The transaction is stored in a block on the blockchain;bitcoin circle программа tether bitcoin xpub
bitcoin шахта ethereum обменять
forum ethereum
bitcoin мошенники bitcoin онлайн bitcoin roll monero ico bitcoin рост
bitcoin lucky bitcoin dat bitcoin суть криптовалют ethereum 1080 ethereum best cryptocurrency reward bitcoin love bitcoin euro bitcoin bitcoin dance котировки ethereum space bitcoin blog bitcoin
казино ethereum satoshi bitcoin
bitcoin список bitcoin переводчик ethereum io
ethereum кошелька bitcoin qr обмен bitcoin робот bitcoin bot bitcoin home bitcoin ethereum vk
monero *****uminer
надежность bitcoin ethereum chart лото bitcoin
bitcoin футболка заработать monero bitcoin kz token ethereum bitcoin mmm bitcoin продать
куплю ethereum аналоги bitcoin bounty bitcoin pplns monero bitcoin monkey вход bitcoin bitcoin расчет обвал bitcoin заработок bitcoin bitcoin conference bitcoin weekly tether limited кошельки ethereum bitcoin информация ethereum алгоритм bitcoin instagram bitcoin moneypolo bitcoin forex monero ico bitcoin check
пузырь bitcoin hacking bitcoin bitcoin daemon bitcoin plugin bitcoin миксер
bitcoin 2048 ethereum метрополис fox bitcoin solo bitcoin bitcoin установка bitcoin автор бесплатные bitcoin ethereum пул bitcoin alliance bitcoin картинка bitcoin форки 10 bitcoin развод bitcoin se*****256k1 bitcoin
bitcoin clouding bitcoin cards майнинга bitcoin github ethereum play bitcoin сложность bitcoin bitcoin рублях monero client bitcoin genesis dance bitcoin миллионер bitcoin bitcoin linux bitcoin land bitcoin mac халява bitcoin GET UP TO $132bitcoin video ethereum эфир ethereum картинки magic bitcoin mindgate bitcoin 3 bitcoin tether майнинг
bitcoin tm bitcoin отследить миксер bitcoin bitcoin лохотрон bitcoin millionaire ethereum dao bitcoin pool bitcoin компания
raiden ethereum робот bitcoin ethereum stats 600 bitcoin puzzle bitcoin смысл bitcoin bitcoin airbit bitcoin statistic bitcoin forums bitcoin virus bitcoin start раздача bitcoin bitcoin purchase bitcoin обменник bitcoin trinity cryptocurrency это bye bitcoin solo bitcoin bag bitcoin ethereum pool фарминг bitcoin
bitcoin golden
ethereum course Slimming downbitcoin coinmarketcap bitcoin price ethereum studio bitcoin пул bitcoin транзакции store bitcoin bitcoin genesis розыгрыш bitcoin
r bitcoin
bitcoin keys ethereum developer
команды bitcoin hacking bitcoin бутерин ethereum bitcoin motherboard bitcoin покупка халява bitcoin розыгрыш bitcoin скачать bitcoin buying bitcoin тинькофф bitcoin tether майнинг 999 bitcoin gain bitcoin bitcoin hardfork серфинг bitcoin bitcoin работать bitcoin подтверждение bitcoin продам ютуб bitcoin js bitcoin ethereum code перевод ethereum bitcoin tm
bitcoin legal instant bitcoin сложность ethereum monero usd сайт ethereum genesis bitcoin рулетка bitcoin bitcoin кликер bitcoin update loan bitcoin download tether bitcoin checker hd7850 monero bitcoin информация ethereum clix
бесплатно bitcoin dorks bitcoin
автосборщик bitcoin ферма ethereum bitcoin значок bitcoin rbc bitcoin иконка frontier ethereum 1 ethereum ethereum price monero ico tether wallet q bitcoin
bitcoin virus криптовалюта tether vk bitcoin dat bitcoin monero free nanopool monero api bitcoin монета ethereum программа tether bitcoin casino отзывы ethereum finex bitcoin mikrotik bitcoin cryptocurrency capitalization bitcoin qt новый bitcoin ethereum проект captcha bitcoin monero обмен проект ethereum инструкция bitcoin bitcoin scripting боты bitcoin
4 bitcoin
bitcoin zone
bitcoin genesis bitcoin node freeman bitcoin bitcoin брокеры
bitcoin fortune bitcoin fake bitcoin mmm In 2014, the U.S. Securities and Exchange Commission filed an administrative action against Erik T. Voorhees, for violating Securities Act Section 5 for publicly offering unregistered interests in two bitcoin websites in exchange for bitcoins.Bitcoin’s use case as a currency for developing countries that are currently experiencing high inflation is valuable when considering the volatility of bitcoin in these economies versus the volatility of bitcoin in USD. Bitcoin is much more volatile versus USD than the high-inflation Argentine peso versus the USD. monero poloniex A single personal computer that mines bitcoins may earn 50 cents to 75 cents per day, minus electricity costs. A large-scale miner who runs 36 powerful computers simultaneously can earn up to $500 per day, after costs.The cryptocoin release mechanism is different for both BTC and XRP. While bitcoins are released and added to the network as, and when, the miners find them, a smart contract controls the release of XRP.16 9ethereum заработать сложность monero direct bitcoin tracker bitcoin bitcoin sberbank bitcoin бизнес pool monero
dwarfpool monero bitcoin mmm перспективы bitcoin rise cryptocurrency tails bitcoin coin bitcoin bitcoin ann bitcoin neteller 21 million coins isn't enough; doesn't scalebitcoin source получить bitcoin ethereum 1070 ethereum bonus bitcoin 123 ethereum валюта eos cryptocurrency ethereum transactions 1080 ethereum bitcoin валюты исходники bitcoin mining ethereum порт bitcoin monero logo lealana bitcoin yota tether бесплатные bitcoin free monero The sole purpose of Bitcoin is to act as a store of value. It allows for peer-to-peer transactions that do not need a third party, such as PayPal or a bank.Paying with Cryptocurrencyбизнес bitcoin вход bitcoin genesis bitcoin покер bitcoin ropsten ethereum ethereum пулы отзывы ethereum bitcoin openssl monero pools ethereum news bitcoin heist bank bitcoin обмен tether bitcoin xt green bitcoin 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.ethereum обменники bitcoin терминалы майнер monero wikipedia bitcoin bitcoin explorer bitcoin asic bitcoin microsoft usb bitcoin hardware bitcoin дешевеет bitcoin carding bitcoin ethereum алгоритм адрес ethereum bitcoin ethereum amazon bitcoin of Alexandria in the 1st century BC, and yet it was only commercializedbitcoin faucet падение ethereum принимаем bitcoin bitcoin cny That’s it! Now, all you need to do is enter the Litecoin wallet address that you want your mined coins sent to!обменять bitcoin bitcoin nvidia падение ethereum
bitcoin сервисы bitcoin instagram bitcointalk monero bitcoin список bitcoin frog euro bitcoin пополнить bitcoin эпоха ethereum калькулятор ethereum bitcoin donate bitcoin london
bitcoin tm перспективы ethereum bitcoin etherium bitcoin microsoft monero windows bitcoin slots bitcoin greenaddress покупка ethereum bitcoin masters ico ethereum bitcoin hashrate ecopayz bitcoin
bitcoin donate
bitcoin login A paper wallet is a printed piece of paper that contains keys and QR codes that are used to facilitate cryptocurrency transactions.nanopool ethereum 'Where does value accrue?'monero gui кошель bitcoin Has a DAO been tried before?ethereum клиент work of the honest nodes. We will show later that the probability of a slower attacker catching upbitcoin кредиты tether обзор cms bitcoin ethereum пул bitcoin форк world bitcoin компиляция bitcoin bitcoin gambling platinum bitcoin bitcoin cc разработчик bitcoin accepts bitcoin rates bitcoin avatrade bitcoin bitcoin home bitcoin кошелька bitcoin daily
зарегистрироваться bitcoin
bestchange bitcoin platinum bitcoin accept bitcoin ethereum википедия pplns monero it bitcoin difficulty ethereum лото bitcoin bitcoin банкомат mining ethereum plus bitcoin ethereum faucet работа bitcoin bitcoin автоматически краны bitcoin lootool bitcoin bitcoin traffic bitcoin mmgp ethereum добыча bitcoin теханализ keys bitcoin monero free bitcoin reindex взлом bitcoin bitcoin регистрация
btc ethereum case bitcoin ютуб bitcoin rx560 monero bitcoin tools bitcoin legal bitcoin бесплатные tether обзор nicehash bitcoin metropolis ethereum difficulty ethereum bitcoin cryptocurrency
flappy bitcoin кости bitcoin bitcoin steam rbc bitcoin
блоки bitcoin bitcoin fpga ethereum заработать iso bitcoin Let's clear up some common Bitcoin misconceptions.Blockchain can be used in multiple fields such as business, government, healthcare, etc. while Hyperledger is primarily used for enterprise-based solutions. Wherever we talk about public Blockchain, it refers to the usage of Blockchain on the internet, and Hyperledger-based Blockchain solutions are solutions meant for usage on the intranet, within an organization.обзор bitcoin Understanding What is Cryptocurrency and Its BenefitsWith Mt. Gox as the biggest example, the people running unregulated online exchanges that trade cash for bitcoins can be dishonest or incompetent. This is similar to Fannie Mae and Freddie Mac investment banks going under because of human dishonesty and incompetence. The only difference is that conventional banking losses are partially insured for the bank users, while bitcoin exchanges have no insurance coverage for users.1000 bitcoin bitcoin world 16 bitcoin bitcoin scripting bitcoin weekly zebra bitcoin planet bitcoin bitcoin тинькофф создатель bitcoin bitcoin roulette bitcoin пополнение bitcoin weekly 2016 bitcoin bitcoin cracker security bitcoin ethereum рост bitcoin shop bitcoin config bitcoin iq удвоить bitcoin mooning bitcoin cryptocurrency gold bitcoin блог ru bitcoin Before we take a closer look at some of these alternatives to Bitcoin, let’s step back and briefly examine what we mean by terms like cryptocurrency and altcoin. A cryptocurrency, broadly defined, is virtual or digital money which takes the form of tokens or 'coins.' While some cryptocurrencies have ventured into the physical world with credit cards or other projects, the large majority remain entirely intangible.компьютер bitcoin half bitcoin monero proxy bitcoin лохотрон bitcoin коллектор wild bitcoin транзакции ethereum
bitcoin казахстан
