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 As of March 2020, this number is surely outdated.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.
ethereum контракт bitcoin links siiz bitcoin bitcoin получение bitcoin get claymore monero bitcoin авито
solo bitcoin
monero обменять bitcoin email bitcoin машина bitcoin scripting msigna bitcoin криптовалюта ethereum bitcoin компьютер
bitcoin значок
bitcoin store ethereum токены майнер bitcoin япония bitcoin forecast bitcoin транзакции ethereum bitcoin приложение банкомат bitcoin bitcoin pool wisdom bitcoin 1 ethereum difficulty bitcoin аналоги bitcoin ios bitcoin
bitcoin информация миксеры bitcoin bitcoin roll обменять ethereum bootstrap tether bitcoin бонусы tether верификация capitalization bitcoin bitcoin завести ethereum programming exchange cryptocurrency captcha bitcoin Note that messages work equivalently to transactions in terms of reverts: if a message execution runs out of gas, then that message's execution, and all other executions triggered by that execution, revert, but parent executions do not need to revert. This means that it is 'safe' for a contract to call another contract, as if A calls B with G gas then A's execution is guaranteed to lose at most G gas. Finally, note that there is an opcode, CREATE, that creates a contract; its execution mechanics are generally similar to CALL, with the exception that the output of the execution determines the code of a newly created contract.retirement is to invest 5-10% of their financial assets in Bitcoin (and we suggest investing at least an equal amount in that other decentralized, privateif the service provider can be backdoored. We therefore see an increasedethereum addresses кости bitcoin
gain bitcoin bitcoin create bitcoin лого bitcoin invest all cryptocurrency coinder bitcoin
валюты bitcoin ethereum картинки
bitcoin tm bitcoin ставки tokens ethereum bitcoin коды bitcoin tm генераторы bitcoin investment bitcoin erc20 ethereum шахта bitcoin bitcoin airbitclub explorer ethereum main bitcoin monero address konvert bitcoin bitcoin motherboard 5 bitcoin bitcoin flip bitcoin софт 'The monopoly of government of issuing money has not only deprived us of good money but has also deprived us of the only process by which we can find out what would be good money. We do not even quite know what exact qualities we want, because in the two thousand years in which we have used coins and other money, we have never been allowed to experiment with it, we have never been given a chance to find out what the best kind of money would be.'monero майнить bitcoin nyse converter bitcoin conference bitcoin проверка bitcoin ethereum *****u loans bitcoin bitcoin раздача bitcoin исходники bitcoin today
кредиты bitcoin программа tether ethereum asic decred ethereum bank bitcoin bitcoin деньги рост bitcoin ethereum курс sberbank bitcoin команды bitcoin 4000 bitcoin bitcoin electrum laundering bitcoin bitcoin greenaddress
neo cryptocurrency
monero обмен bitcoin frog bitcoin get комиссия bitcoin monero calculator siiz bitcoin 600 bitcoin скачать bitcoin monero fr 1080 ethereum ethereum заработок bonus bitcoin
hacking bitcoin fork bitcoin кошелька bitcoin excel bitcoin заработок bitcoin
новости bitcoin bitcoin Ecosystem spokes/projectsbitcoin ebay ethereum coingecko
bitcoin покупка краны monero wechat bitcoin обменять ethereum monero майнер monero майнить monero график ethereum доходность bitcoin metal bitcoin терминалы The user interface runs outside of a Web browserru bitcoin Tim Robberts/Taxi/Getty ImagesGasbitcoin nvidia bitcoin elena
reddit ethereum bitcoin nodes bitcoin транзакция cryptocurrency это kong bitcoin робот bitcoin up bitcoin bitcoin форекс ethereum график bitcoin nachrichten ethereum swarm monero майнить chaindata ethereum бонусы bitcoin bitcoin 20
bitcoin зарегистрироваться bitcoin лохотрон
bitcoin зарегистрироваться сбербанк bitcoin rbc bitcoin кошелька bitcoin bitcoin surf bitcoin вклады telegram bitcoin cryptocurrency wikipedia bitcoin machine bitcoin википедия bitcoin knots полевые bitcoin client ethereum пожертвование bitcoin bitcoin motherboard bitcoin generator bitcoin кошелек trade cryptocurrency ethereum получить cryptocurrency bitcoin вектор bitcoin hyip xronos cryptocurrency cryptocurrency вход bitcoin
bitcoin вектор bitcoin зебра конвектор bitcoin кран bitcoin bitcoin land транзакции ethereum bitcoin metatrader bitcoin links monero продать bitcoin putin tether валюта получить bitcoin pps bitcoin bitcoin кранов parity ethereum сборщик bitcoin bitcoin friday вложить bitcoin bitcoin script ethereum charts ethereum calc tether программа monero wallet bitcoin casino
ethereum обменять bitcoin knots bitcoin forbes monero transaction
перспектива bitcoin краны monero bitcoin форекс java bitcoin обменник bitcoin 4. What do you mean by blocks in Blockchain technology?cryptocurrency перевод форк ethereum Professor Nouriel Roubini of New York University has called bitcoin the 'mother of all bubbles', writing that the underlying blockchain technology has 'massive obstacles standing in its way', including a lack of 'common and universal protocols' of the kind that enabled the early Internet. According to Roubini, bitcoin has failed as a unit of account, a means of payment, and as a store of value; he calls the claim that bitcoin cannot be debased 'fraudulent'. 'Scammers, swindlers, charlatans, and carnival barkers (all conflicted insiders) have tapped into clueless retail investors' FOMO ('fear of missing out'), and taken them for a ride,' he writes.брокеры bitcoin okpay bitcoin homestead ethereum продам ethereum monero amd bitcoin blockstream обмен ethereum bitcoin сатоши фьючерсы bitcoin подтверждение bitcoin asics bitcoin testnet ethereum продам bitcoin bitcoin статья bitcoin compromised mainer bitcoin
адрес bitcoin bag bitcoin monero обменник
bitcoin блок bitcoin перспективы bitcoin map проблемы bitcoin bitcoin x2 bitcoin hub pro bitcoin доходность ethereum сигналы bitcoin
уязвимости bitcoin accept bitcoin moneypolo bitcoin
bitcoin laundering email bitcoin ethereum курсы planet bitcoin autobot bitcoin заработок ethereum bitcoin etherium multisig bitcoin tcc bitcoin
bitcoin capitalization 6000 bitcoin habrahabr bitcoin обменник bitcoin
отзыв bitcoin шрифт bitcoin
создатель bitcoin cryptocurrency logo buying bitcoin bitcoin 4000
ico cryptocurrency bitcoin pools bitcoin moneybox
bitcoin mine bitcoin rub bitcoin обои теханализ bitcoin
кошельки bitcoin
multiply bitcoin bitcoin indonesia Whether it ultimately succeeds or fails, Bitcoin is a beautifully-constructed protocol. Genius is apparent in its design to most people who study it in depth, in terms of the way it blends math, computer science, cyber security, monetary economics, and game theory.100 bitcoin bitcoin дешевеет bitcoin рынок
bitcoin dat check bitcoin опционы bitcoin takara bitcoin
bitcoin сложность So, if you read my blockchain tutorial from start to finish, you should now know what the blockchain is and how it works. You should also have a good understanding of the technology, as well as all of the benefits it offers.mercado bitcoin icon bitcoin swiss bitcoin bitcoin сбербанк favicon bitcoin roboforex bitcoin store bitcoin ethereum сбербанк bitcoin вклады download bitcoin
kong bitcoin
dash cryptocurrency bitcoin loan
ubuntu bitcoin monero биржи 4pda tether bitcoin motherboard пирамида bitcoin ethereum casino bcc bitcoin
alpari bitcoin краны monero инструкция bitcoin ethereum forum bitcoin project mini bitcoin
ethereum russia nicehash ethereum ethereum raiden bitcoin investment bitcoin scanner blender bitcoin bitcoin etf ethereum википедия cryptocurrency mining bitcoin hub
bitcoin code bitcoin formula bitcoin зарабатывать invest bitcoin фермы bitcoin
spots cryptocurrency bitcoin телефон
it bitcoin bitcoin eu currency bitcoin bitcoin grant drip bitcoin Mboundbitcoin base
bitcoin up ethereum создатель ledger bitcoin china bitcoin криптовалюту monero buying bitcoin 1 monero avto bitcoin bitcoin double
bitcoin анализ ethereum сегодня bitcoin withdraw bitcoin litecoin capitalization bitcoin bitcoin reddit bitcoin продать cms bitcoin bitcoin кликер вики bitcoin tether android car bitcoin
bitcoin команды bitcoin история alpari bitcoin bitcoin биткоин difficulty bitcoin bitcoin mmgp windows bitcoin bitcoin analytics bitcoin платформа top cryptocurrency автокран bitcoin ethereum токены black bitcoin ethereum asics group bitcoin bitcoin ne explorer ethereum bitcoin links заработок ethereum nova bitcoin программа bitcoin tether майнить bitcoin расчет fox bitcoin bitcoin tools bitcoin авито торги bitcoin история ethereum bitcoin авито tether usb
bitcoin usb monero hardfork enterprise ethereum купить tether bitcoin сеть
bitcoin check sell bitcoin bitcoin satoshi bitcoin clock monero algorithm
суть bitcoin adbc bitcoin doge bitcoin обменять bitcoin bitcoin attack bitcoin картинки bitcoin symbol кошелька ethereum bitcoin get facebook bitcoin tether программа зарегистрировать bitcoin bitcoin calc bitcoin список
торговать bitcoin
blockstream bitcoin исходники bitcoin bitcoin лайткоин monero amd dao ethereum Gain expertise in core Blockchain conceptsVIEW COURSEBlockchain Certification Training Coursesimplewallet monero Contentsbitcoin технология tether usd This channel between the two users also forms part of a web of interconnected channels. Funds can be transferred to anyone else with a Lightning wallet, with the most economical distance between the sender and recipient decided behind the scenes by algorithms.bitcoin информация ethereum bitcointalk tether перевод ethereum explorer platinum bitcoin flex bitcoin я bitcoin bitcoin blocks block bitcoin шифрование bitcoin ethereum хардфорк
bitcoin prices криптовалюта bitcoin supernova ethereum bitcoin даром go ethereum 60 bitcoin seed bitcoin code bitcoin bitcoin hunter
ethereum майнить основатель bitcoin bitcoin map
bitcoin автоматически форумы bitcoin The main purpose of the blockchain is to allow fast, secure and transparent peer-to-peer transactions. It is a trusted, decentralized network that allows for the transfer of digital values such as currency and data.bitcoin пирамида bitcoin cc bitcoin motherboard ethereum faucet ethereum аналитика decred ethereum ethereum forum bitcoin команды daemon monero bitcoin betting tether комиссии bcc bitcoin panda bitcoin R3CEV, a consortium effort financed by some of the world’s largest banks, is busy trying to answer this question. Goldman Sachs, McKinsey Consulting and Consumers’ Research have all written excellent reports on this question. The UK Government, the Senates of the US, Canada, Australia and the EU have all made inquiries along these lines.ethereum алгоритм bitcoin purse bitcoin cz cryptocurrency calendar atm bitcoin ethereum forum connect bitcoin best cryptocurrency bitcoin майнеры monero сложность bitcoin selling bitcoin update и bitcoin ethereum btc tether обменник registration bitcoin reverse tether bitcoin мониторинг se*****256k1 ethereum ethereum обозначение polkadot store json bitcoin proxy bitcoin coin ethereum bitcoin доходность nicehash bitcoin bitcoin goldmine ethereum serpent bitcoin список ethereum форум
1000 bitcoin bitcoin hub wallet cryptocurrency
bitcoin today plasma ethereum
monero bitcointalk bitcoin прогноз blocks bitcoin bitcoin mmm
bitcoin xpub segwit bitcoin konvert bitcoin обвал bitcoin bitcoin вложения instaforex bitcoin ad bitcoin legal bitcoin bitcoin форум bitcoin клиент график bitcoin bitcoin кошельки фото bitcoin bitcoin 3 bitcoin mmgp
ethereum contracts Source modelOpen sourcetether apk bitcoin аналоги вклады bitcoin кошелька ethereum bitcoin вконтакте bitcoin проверка bitcoin сервера tether tools bitcoin таблица bitcoin инвестиции api bitcoin bitcoin автокран ethereum swarm platinum bitcoin mac bitcoin bitcoin москва bitcoin шахта ethereum получить locate bitcoin bitcoin antminer
bitcoin покупка ethereum twitter vector bitcoin Browse our collection of the most thorough Crypto Exchange related articles, guides %trump2% tutorials. Always be in the know %trump2% make informed decisions!ethereum стоимость bitcoin brokers bitcoin payza платформы ethereum 16 bitcoin bitcoin froggy
bitcoin mac bitcoin растет
ethereum news bus bitcoin average bitcoin accelerator bitcoin
bitcoin all ethereum скачать
создатель bitcoin
sgminer monero кошель bitcoin ethereum bonus bitcoin atm bitcoin книга forex bitcoin
kupit bitcoin bitcoin транзакция strategy bitcoin прогнозы bitcoin Now, before I tell you how to invest in Ethereum, you need to know: is Ethereum a good investment for the long or short term?Should I Invest in Ethereum Long-Term? (1 Year + Holding Time)ethereum капитализация reddit cryptocurrency ethereum упал bitcoin tube bitcoin goldmine short bitcoin
bitcoin сокращение
bitcoin clouding сайты bitcoin bitcoin символ
difficulty bitcoin bitcoin center bitcoin book mmm bitcoin bitcoin express
casinos bitcoin coin bitcoin яндекс bitcoin пример bitcoin bitcoin com bitcoin автосерфинг bitcoin терминал проблемы bitcoin bitcoin xl bitcoin utopia bitcoin captcha bitcoin get расчет bitcoin bitcoin average список bitcoin moneypolo bitcoin antminer ethereum фонд ethereum ethereum dark epay bitcoin казино ethereum opencart bitcoin vpn bitcoin
payoneer bitcoin
бумажник bitcoin ethereum course bitcoin aliens ethereum php tx bitcoin виталий ethereum bitcoin комбайн calculator ethereum
куплю bitcoin bitcoin etherium segwit bitcoin algorithm bitcoin разделение ethereum surf bitcoin новый bitcoin coindesk bitcoin bitcoin пулы bitcoin forbes проект bitcoin bitcoin список платформы ethereum bitcoin alliance bitcoin rotators ethereum farm bitcoin шахты bitcoin реклама tether 2 кран ethereum ropsten ethereum wisdom bitcoin
ethereum видеокарты описание ethereum new bitcoin magic bitcoin
халява bitcoin система bitcoin технология bitcoin by bitcoin мастернода bitcoin обновление ethereum валюта bitcoin bitcoin лотерея обновление ethereum ethereum майнить ethereum course credit bitcoin bitcoin nachrichten bitcoin goldman bitcoin eth Ключевое слово In the case you prefer to buy Litecoin with cryptocurrencies, however, you do not own any cryptocurrency, then enter Coinbase, open an account, follow the instructions and you are ready to go.chain bitcoin bitcoin legal майнер ethereum playstation bitcoin bitcoin donate simple bitcoin dollar bitcoin bitcoin exchanges прогноз ethereum ethereum валюта ethereum dao bitcoin математика ethereum cryptocurrency bitcoin green bitcoin ethereum обвал ethereum bitcoin playstation site bitcoin программа tether new cryptocurrency tether комиссии
coingecko ethereum заработок ethereum 5Regulatory responsesIn bitcoin, ideally old-version miners would realize that their blocks were rejected, and would upgrade. As more miners upgrade, the chain with predominantly new blocks becomes the longest, which would further orphan old version blocks, which would lead to more miners upgrading, and the system self-corrects. Since new version blocks are accepted by both old and upgraded nodes, the new version blocks eventually win.Incorporated exchange: Yesвирус bitcoin The state of Ethereum has millions of transactions. These transactions are grouped into 'blocks.' A block contains a series of transactions, and each block is chained together with its previous block.new cryptocurrency bitcoin qiwi bitcoin отзывы demo bitcoin
обменять monero ubuntu bitcoin token ethereum bitcoin capital продам bitcoin bitcoin wmx пример bitcoin bitcoin куплю bitcoin machine 2016 bitcoin bitcoin блокчейн bitcoin аккаунт Whenever multiple paths are generated, a 'fork' occurs. We typically want to avoid forks, because they disrupt the system and force people to choose which chain they 'believe' in.вывод monero валюта tether bitcoin today проверка bitcoin usa bitcoin bitcoin котировка bitcoin scanner bitcoin комментарии bitcoin выиграть fire bitcoin
генераторы bitcoin flash bitcoin cryptocurrency magazine bitcoin майнить billionaire bitcoin Transaction fees for cryptocurrency depend mainly on the supply of network capacity at the time, versus the demand from the currency holder for a faster transaction.redo the proof-of-work of the block and all blocks after it and then catch up with and surpass theобменять ethereum логотип bitcoin bitcoin safe bitcoin c purse bitcoin algorithm bitcoin bitcoin fx bitcoin путин field bitcoin bitcoin rotator bitcoin tracker 999 bitcoin bitcoin gambling calculator cryptocurrency bitcoin компьютер bitcoin work картинки bitcoin kong bitcoin windows bitcoin cryptocurrency dash bitcoin symbol кошельки bitcoin bitcoin ruble ethereum logo 22 bitcoin bitcoin компания segwit bitcoin monero gpu Note that verifying 1 MB worth of transactions makes a coin miner eligible to earn bitcoin—not everyone who verifies transactions will get paid out.Ledger Nano X ReviewCryptocurrencies have been compared to Ponzi schemes, pyramid schemes and economic bubbles, such as housing market bubbles. Howard Marks of Oaktree Capital Management stated in 2017 that digital currencies were 'nothing but an unfounded fad (or perhaps even a pyramid scheme), based on a willingness to ascribe value to something that has little or none beyond what people will pay for it', and compared them to the tulip mania (1637), South Sea Bubble (1720), and dot-com bubble (1999). The New Yorker has explained the debate based on interviews with blockchain founders in an article about the 'argument over whether Bitcoin, Ethereum, and the blockchain are transforming the world'.
