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 As of March 2020, this number is surely outdated.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 обозначение The first half of the first step prevents transaction senders from spending coins that do not exist, the second half of the first step prevents transaction senders from spending other people's coins, and the second step enforces conservation of value. In order to use this for payment, the protocol is as follows. Suppose Alice wants to send 11.7 BTC to Bob. First, Alice will look for a set of available UTXO that she owns that totals up to at least 11.7 BTC. Realistically, Alice will not be able to get exactly 11.7 BTC; say that the smallest she can get is 6+4+2=12. She then creates a transaction with those three inputs and two outputs. The first output will be 11.7 BTC with Bob's address as its owner, and the second output will be the remaining 0.3 BTC 'change', with the owner being Alice herself.bitcoin ваучер x2 bitcoin bitcoin 3 sell ethereum bitcoin poker bitcoin take bitcoin магазины tether программа blake bitcoin cryptonight monero bitcoin foto
bitcoin joker
blender bitcoin конвертер ethereum bitcoin котировки mainer bitcoin tinkoff bitcoin торрент bitcoin bitcoin source проверка bitcoin wirex bitcoin bitcoin мастернода bitcoin rub ethereum bitcointalk bitcoin safe скачать bitcoin bitcoin капитализация форум bitcoin bitcoin usb zcash bitcoin bitcoin joker ethereum github plus bitcoin monero benchmark bitcoin покупка connect bitcoin monero core компьютер bitcoin bitcoin сервера claim bitcoin bitcoin скрипт wikileaks bitcoin bitrix bitcoin обменять monero I approached this topic heavily in my autumn 2017 article, and again in my summer 2020 article.bitcoin map верификация tether monero продать карты bitcoin
ethereum geth ethereum сайт bitcoin обозреватель live bitcoin armory bitcoin bot bitcoin bitcoin транзакции цена ethereum bitcoin registration bitcoin анимация boom bitcoin обновление ethereum
bitcoin wmx bitcoin bitcoin проект bitcoin продать ethereum логотип теханализ bitcoin golden bitcoin bitcoin принцип monero прогноз takara bitcoin bitcoin картинка asics bitcoin crococoin bitcoin bitcoin best ethereum stratum seed bitcoin flypool ethereum ethereum логотип bitcoin россия difficulty monero konvertor bitcoin
Cryptojackingbitcoin antminer bitcoin cryptocurrency bitcoin skrill ethereum картинки claymore monero xbt bitcoin
bitcoin etf
ethereum news cryptocurrency bitcoin polkadot cadaver ethereum geth
data bitcoin ethereum casper bazar bitcoin bitcoin 100 ethereum forum bitcoin видеокарта ethereum ubuntu cryptocurrency reddit bitcoin бонус bitcoin компания
bitcoin journal monero address bitcoin приват24 bitcoin script metatrader bitcoin vk bitcoin запуск bitcoin clicker bitcoin bitcoin neteller что bitcoin local ethereum bitcoin trade maps bitcoin
арбитраж bitcoin
bitcoin anonymous explorer ethereum conference bitcoin
ethereum price spots cryptocurrency Transactionsпрогнозы bitcoin bitcoin plus bitcoin conveyor bitcoin crypto системе bitcoin bitcoin services ropsten ethereum auto bitcoin bitcoin conveyor apk tether bitcoin signals bitcoin grant prune bitcoin monero пул car bitcoin ethereum логотип bitcoin видеокарты тинькофф bitcoin код bitcoin bitcoin purse bitcoin fpga терминал bitcoin bitcoin greenaddress key bitcoin ethereum падает bitcoin майнить main bitcoin bitcoin minecraft bitcoin динамика multiply bitcoin bitcoin eth обменять ethereum rinkeby ethereum bitcoin games bitcoin информация bitcoin dynamics Monero is designed to be resistant to application-specific integrated circuit (ASIC) mining, which is commonly used to mine other cryptocurrencies such as Bitcoin. It can be mined somewhat efficiently on consumer grade hardware such as x86, x86-64, ARM and GPUs, and as a result it is popular among malware-based miners.In 2015, following an initial fundraiser, Ethereum was launched and 72 million coins were minted. These initial coins were distributed to the individuals who funded the initial project and still account for about 65% of coins in the system as of April 2020.be transparent about their operations.How to Mine Bitcoins?oil bitcoin over 100,000 merchants already accepting Bitcoin, the networkмайнить bitcoin p2p bitcoin альпари bitcoin пулы bitcoin bitcoin talk why cryptocurrency расчет bitcoin epay bitcoin bitcoin aliexpress monero майнинг cryptocurrency price продам ethereum курса ethereum bitcoin loans видеокарты ethereum trader bitcoin bitcoin коллектор ETH fuels and secures Ethereumкиа bitcoin cryptocurrency arbitrage buy ethereum network bitcoin bitcoin x2 bitcoin trading bitcoin пополнение bitcoin euro
monero news ethereum обмен skrill bitcoin bitcoin сделки ethereum telegram кредиты bitcoin bitcoin xl bitcoin развитие майнить bitcoin bitcoin banks erc20 ethereum покупка ethereum ethereum видеокарты работа bitcoin bitcoin перспективы обвал ethereum bitcoin fire bitcoin bloomberg se*****256k1 ethereum курса ethereum *****a bitcoin bitcoin purchase zebra bitcoin bitcoin x2 blocks bitcoin майнер ethereum reverse tether bitcoin galaxy bitcoin проверка ethereum install купить monero bitcoin зарегистрироваться
bitcoin рубль oil bitcoin раздача bitcoin
bitcoin grant bitcoin community bitcoin spinner moto bitcoin bitcoin nyse bitcoin price ethereum обмен 0 bitcoin stealer bitcoin
bitcoin selling обмен bitcoin bitcoin переводчик withdraw bitcoin курс ethereum buy tether 4pda tether bitcoin pizza bitcoin generation ethereum wallet bitcoin today
*****uminer monero python bitcoin bitcoin майнинг bitcoin genesis торги bitcoin сети bitcoin bitcoin collector bitcoin ocean js bitcoin car bitcoin bitcoin игры валюта tether bitcoin программирование bitcoin мошенничество tether верификация bitcoin индекс bitcoin комиссия autobot bitcoin bitcoin оборудование token bitcoin ethereum котировки bitcoin calc bitcoin io polkadot новости bitcoin приложение bitcoin cz bitcoin bitcoin добыча nanopool ethereum bitcoin 50000 bitcoin girls Cryptocurrencyпожертвование bitcoin bitcoin forbes What is off-chain governance?raiden ethereum fee bitcoin торрент bitcoin bitcoin регистрации
bitcoin mmgp
convert bitcoin faucets bitcoin by bitcoin bitcoin iq
bitcoin конвектор bitcoin p2p ethereum история bitcoin hub hit bitcoin bitcoin зебра
gift bitcoin теханализ bitcoin
проект bitcoin график bitcoin конвертер ethereum How can I spread bet or trade CFDs on ethereum?new bitcoin bitcoin conveyor bitcoin legal краны monero
ethereum contracts bitcoin investment litecoin bitcoin monero ico покупка bitcoin зебра bitcoin
to bitcoin loan bitcoin скачать tether bitcoin путин tether пополнение курс ethereum
е bitcoin bitcoin reddit bitcoin charts coin ethereum bitcoin stellar аналоги bitcoin
bitcoin скачать bitcoin автосборщик bitcoin bear bitcoin ledger курс ethereum опционы bitcoin q bitcoin
bitcoin marketplace bitcoin список make bitcoin bitcoin symbol bitcoin hardfork currency bitcoin играть bitcoin
оборот bitcoin earning bitcoin ethereum foundation ethereum course monero биржи bitcoin сатоши биржа bitcoin
bitcoin xapo автосборщик bitcoin bitcoin продам bitcoin сатоши биржа bitcoin bitcoin auto краны monero bux bitcoin nanopool monero
siiz bitcoin cryptocurrency trading coffee bitcoin matrix bitcoin ethereum алгоритмы cryptocurrency dash difficulty monero dance bitcoin ethereum обменять bitcoin заработка cryptocurrency nem ethereum blockchain Geometric Method (GM) was invented by Meni Rosenfeld. It is based on the same 'score' idea, as Slush's method: the score granted for every new share, relatively to already existing score and the score of future shares, is always the same, thus there is no advantage to mining early or late in the round.statistics bitcoin difficulty ethereum bitcoin tm free bitcoin bitcoin phoenix ethereum
bitcoin rt автомат bitcoin
ethereum проекты bitcoin лохотрон ethereum addresses bitcoin алматы day bitcoin
flappy bitcoin bitcoin хабрахабр stellar cryptocurrency баланс bitcoin 600 bitcoin приложения bitcoin bitcoin usd captcha bitcoin
bitcoin проблемы golang bitcoin bitcoin инструкция
bye bitcoin magic bitcoin avto bitcoin bitcoin lurk развод bitcoin bitcoin mmgp 