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 As of March 2020, this number is surely outdated.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 майнинг tether bitcoin pump bitcoin fasttech bitcoin прогнозы bitcoin создать monero hashrate With Ethereum smart contracts, agreements can be maintained and executed without any alteration. So in an industry that has fragmented participants, is subject to disputes, and requires digital contracts to be present, Ethereum can be used as a technology for developing smart contracts and for digitally recording the agreements and the transactions based on them.капитализация bitcoin ann ethereum bitcoin продать bitcoin терминалы конец bitcoin ethereum продать bear bitcoin bitcoin paypal bitcoin explorer bitcoin symbol шахта bitcoin bitcoin ферма bitcoin 1000 carding bitcoin bitcoin get bitcoin etf segwit2x bitcoin wisdom bitcoin stats ethereum отзывы ethereum разделение ethereum bitcoin calculator mercado bitcoin top bitcoin bitcoin valet logo ethereum bitcoin 3 waves bitcoin ethereum инвестинг 4pda tether alien bitcoin пожертвование bitcoin
ethereum transactions
value bitcoin bitcoin global эпоха ethereum покупка bitcoin падение bitcoin sgminer monero monero bitcointalk tether bootstrap bitcoin программа bitcoin hesaplama
bitcoin aliexpress бесплатный bitcoin ethereum wiki cryptocurrency price ava bitcoin обменники ethereum ethereum calc ethereum стоимость продажа bitcoin ethereum game monero dwarfpool the ethereum topfan bitcoin будущее ethereum
moto bitcoin monero курс btc bitcoin blake bitcoin ethereum бесплатно перевод ethereum bitcoin вклады
sha256 bitcoin bitcoin zebra bitcoin расчет отзыв bitcoin bitcoin x2 заработай bitcoin ethereum продам казино ethereum bitcoin background unconfirmed bitcoin ann ethereum monero курс bitcoin adress новости bitcoin bitcoin nachrichten ethereum course криптовалют ethereum криптовалюта tether bitcoin uk счет bitcoin ethereum fork *****a bitcoin bitcoin community перевод ethereum bitcoin accelerator ethereum продать If you're interested in blockchain and the technical side of Ethereum, we've got you covered.Since the release of bitcoin, over 6,000 altcoins (alternative variants of bitcoin, or other cryptocurrencies) have been created.bitcoin friday
unconfirmed monero bitcoin blog foto bitcoin
bitcoin gif bitcoin click coinmarketcap bitcoin 100 bitcoin ethereum pow bitcoin автосборщик today bitcoin bitcoin сделки genesis bitcoin mercado bitcoin bitcoin пулы bitcoin wiki monero xmr matteo monero keystore ethereum робот bitcoin bitcoin сети bitcoin магазины зарабатывать bitcoin bitcoin server валюта bitcoin difficulty bitcoin пожертвование bitcoin ssl bitcoin bye bitcoin ethereum биржи
auto bitcoin системе bitcoin bitcointalk monero tether android bitcoin alliance source bitcoin ethereum twitter
amazon bitcoin direct bitcoin robot bitcoin bitcoin официальный cryptocurrency mining polkadot cadaver kupit bitcoin bitcoin sberbank airbit bitcoin bitcoin converter bitcoin вложения почему bitcoin ethereum btc bitcoin maps
bitcoin ann But if you joined a mining pool with 50,000 other people, every time your pool won, you would get you to share based on your 1 ticket. This is the same with Litecoin mining, where your share of rewards are based on how much power you provide.bitcoin проверить
tether usd bitcoin видеокарта ethereum прогноз
майнить bitcoin bitcoin 2 ethereum платформа bitcoin conf
рубли bitcoin bitcoin pizza electrum bitcoin ethereum addresses часы bitcoin metatrader bitcoin ethereum эфир bitcoin security
Validators are expected to become active on Ethereum 2.0 upon completion of a valid deposit (-32 ETH) from the 1.0 chain into a new smart contract, along with a waiting period. Validators would also require to become light clients of the 1.0 chain to be approved for validating new blocks. In this new PoS consensus system, malicious validators would see their staked funds slashed.Ethereum 2.0 is also expected to be rolled out progressively with several sub-phases:raspberry bitcoin bitcoin prominer magic bitcoin bitcoin project
перспективы ethereum bitcoin information se*****256k1 ethereum people bitcoin bitcoin компания tether clockworkmod bitcoin авито bitcoin инвестирование forum ethereum bitcoin софт
bitcoin статья mt5 bitcoin bitmakler ethereum spend bitcoin bitcoin ann dog bitcoin mining ethereum bitcoin reklama bitcoin переводчик ethereum купить vpn bitcoin
arbitrage cryptocurrency bubble bitcoin bitcoin calc datadir bitcoin фермы bitcoin *****a bitcoin
bitcoin cran geth ethereum bitcoin код bitcoin boxbit bitcoin payment 2 bitcoin bitcoin surf bitcoin 0
ethereum linux ethereum icon bitcoin spinner бутерин ethereum bitcoin betting ico ethereum ethereum shares
bitcoin paypal bitcoin evolution new bitcoin loans bitcoin почему bitcoin
bitcoin расшифровка ethereum проекты bitcoin flapper bitcoin пузырь bitcoin ферма bitcoin neteller bitcoin casino monero 1060 Whoever has the private and public keys owns the cryptocurrency, so don’t lose your wallets! Cryptocurrency is pseudonymous, remember? There is no way to prove your own cryptocurrency unless you have the keys to it.bitcoin start bitcoin автоматический история ethereum price bitcoin free bitcoin bitcoin вконтакте boom bitcoin supernova ethereum blogspot bitcoin earn bitcoin пулы bitcoin bitcoin бесплатно up bitcoin monero новости bitcoin node bitcoin генераторы usb tether rotator bitcoin bitcoin unlimited bitcoin alpari bitcoin автомат monero minergate
monero pro bitcoin вконтакте bitcoin минфин ethereum pools кликер bitcoin nvidia monero bitcoin multisig At the moment, the transaction from Alice to Bob is still not confirmed by the network, and Bob can change the witness signature, therefore changing this transaction ID from 12345 to 67890.sberbank bitcoin
Think for a moment about what a blockchain was originally designed to do – store a distributed record of transactions of a peer-to-peer electronic cash (Bitcoin). In this sense, a blockchain can thought of as a machine that tracks the current state of the entire network and the value (amounts of Bitcoin) that are scattered among various holders.bitcoin usd bitcoin sec
bitcoin продажа 5 bitcoin bitcoin обменник ethereum сложность mooning bitcoin bitcoin money happy bitcoin split bitcoin bitcoin карты wifi tether cardano cryptocurrency nicehash bitcoin ethereum serpent ethereum клиент развод bitcoin bitcoin сайты
cryptocurrency wikipedia 6000 bitcoin check bitcoin bitcoin clicks abi ethereum cold bitcoin bitcoin habrahabr bitcoin суть bitcoin best bitcoin kurs
ethereum контракт bitcoin создать equihash bitcoin робот bitcoin торги bitcoin
bitcoin кран bitcoin магазин carding bitcoin This was very bad for Bitcoin, and some governments have tried to ban the cryptocurrency for this reason. It is the biggest example of how Bitcoin can be *****d, although, crime can happen with all currencies.график monero mercado bitcoin ethereum github bitcoin click
bitcoin клиент bitcoin mining bitcoin сети p2p bitcoin bitcoin sportsbook bitcoin шахта ethereum курсы котировки ethereum bitcoin bloomberg bitcoin fire gadget bitcoin
bitcoin loans bitcoin информация fasterclick bitcoin icons bitcoin cryptocurrency top bitcoin monkey разделение ethereum
mt4 bitcoin bitcoin delphi комиссия bitcoin invest bitcoin bitcoin минфин
ethereum address bitcoin cranes bitcoin shop логотип bitcoin bitcoin formula bitcoin surf
matrix bitcoin bitcoin plus bitcoin гарант ethereum stats btc bitcoin keystore ethereum
транзакции ethereum hacking bitcoin bitcoin fx bitcoin earnings blog bitcoin ann bitcoin bcn bitcoin математика bitcoin bitcoin pay bitcoin счет bitcoin транзакция bitcoin fun кошельки bitcoin fast bitcoin carding bitcoin best bitcoin bitcoin вложить bitcoin мониторинг buy tether chain bitcoin bitcoin flex bitcoin anonymous bitcoin india bitcoin bio project ethereum
продажа bitcoin bitcoin видеокарты local bitcoin
bitcoin лопнет dag ethereum Alice broadcasts the transaction on the Bitcoin network for all to see.bitcoin payeer matteo monero ethereum ubuntu аналоги bitcoin bitcoin bonus forum cryptocurrency bitcoin bounty raspberry bitcoin
ethereum os блоки bitcoin bitcoin alpari bitcoin компьютер bitcoin solo сколько bitcoin токены ethereum bitcoin config invest bitcoin лото bitcoin криптовалюты bitcoin bitcoin форки шифрование bitcoin bitcoin история cryptocurrency capitalization bitcoin mempool мавроди bitcoin tails bitcoin bitcoin продать monero miner
форки bitcoin network bitcoin bitcoin paw bitcoin nodes bitcoin security bitcoin trust
trust bitcoin
bitcoin конец bitcoin arbitrage server bitcoin bitcoin key calculator bitcoin bitcoin лохотрон faucet cryptocurrency anomayzer bitcoin
bitcoin бизнес
change bitcoin bitcoin india logo ethereum оплата bitcoin
bitcoin оборудование buy bitcoin монета bitcoin bitcoin froggy bitcoin maps часы bitcoin preev bitcoin будущее ethereum bitcoin инвестирование bitcoin work
ethereum стоимость bitcoin crush bitcoin автокран
bitcoin окупаемость bitcoin nyse ethereum rig bitcoin lurkmore
se*****256k1 ethereum tp tether bitcoin дешевеет alipay bitcoin arbitrage bitcoin bitcoin venezuela bitcoin reward валюта ethereum create bitcoin bitcoin reward store bitcoin japan bitcoin bitcoin чат bitcoin портал яндекс bitcoin bitcoin scam monero dwarfpool bitcoin hesaplama bitcoin paypal monero fr
monero краны bitcoin шахты bitcoin alliance bitcoin timer bitcoin register
mempool bitcoin ethereum криптовалюта bitcoin установка bitcoin proxy продать ethereum майнер ethereum
ann bitcoin bitcoin коллектор x2 bitcoin
up bitcoin ethereum casper криптовалют ethereum халява bitcoin bitcoin poker майн bitcoin youtube bitcoin wmz bitcoin bitcoin map bitcoin x ethereum бесплатно bitcoin coin bitcoin synchronization monero купить is bitcoin new cryptocurrency blake bitcoin monero краны bitcoin local bitcoin cranes шифрование bitcoin продать monero bitcoin 0 bitcoin me the ethereum faucet cryptocurrency ethereum swarm bitcoin info goldsday bitcoin ETH fuels and secures Ethereumbitcoin location
bitcoin криптовалюта
bitcoin зарабатывать solidity ethereum bitcoin pdf cryptocurrency exchanges bitcoin brokers bitcoin вебмани
отзыв bitcoin live bitcoin fast bitcoin создатель bitcoin ethereum course world bitcoin bitcoin lucky обналичить bitcoin cryptocurrency forum phoenix bitcoin
monero биржи bitcoin asics bitcoin адрес bitcoin red
pro100business bitcoin bitcoin ukraine token bitcoin bitcoin playstation ico monero truffle ethereum clockworkmod tether bitcoin free лото bitcoin ютуб bitcoin компиляция bitcoin monero новости вирус bitcoin bitcoin деньги
Blockchain tech plays an important role in cryptocurrency miningbitcoin видеокарты planet bitcoin calculator ethereum майнить monero сбербанк ethereum bitcoin multibit bitcoin компьютер яндекс bitcoin 1080 ethereum bitcoin instant card bitcoin bitcoin перевод bitcoin register bitcoin parser теханализ bitcoin bitcoin blockchain андроид bitcoin zebra bitcoin
usb bitcoin bitcoin calculator bitcoin io платформа ethereum ethereum падение bitcoin torrent nem cryptocurrency total cryptocurrency ethereum gas rpg bitcoin siiz bitcoin tether provisioning ethereum api bitcoin кэш кошельки bitcoin bitcoin сервисы galaxy bitcoin
wmx bitcoin
шахты bitcoin abc bitcoin bitcoin sha256 ethereum com bitcoin register exchange bitcoin rbc bitcoin india bitcoin china bitcoin You might remember how I told you that mining is similar to solving a really difficult puzzle. In fact, the puzzle is so difficult that no human could solve it!Updated on August 25, 2019casinos bitcoin зарегистрировать bitcoin ethereum serpent фото bitcoin ethereum address nya bitcoin bcc bitcoin ethereum mining moto bitcoin bitcoin sec uk bitcoin bitcoin обучение ethereum addresses faucet cryptocurrency ethereum упал ethereum cryptocurrency ico cryptocurrency pos ethereum bitcoin mail bitcoin минфин bitcoin rotator bitcoin coin poloniex monero trezor bitcoin market bitcoin love bitcoin
bitcoin виджет nicehash monero tether usb bitcoin чат polkadot store ethereum бесплатно tether plugin sec bitcoin
ethereum course bitcoin ethereum сбербанк bitcoin ethereum blockchain
iphone bitcoin пул monero bitcoin primedice ethereum падение bitcoin торговать equihash bitcoin bitcoin блок bitcoin girls bitcoin прогноз
zebra bitcoin tails bitcoin bitcoin novosti search bitcoin avatrade bitcoin ethereum перспективы bitcoin значок daemon monero puzzle bitcoin bitcoin eobot
bitcoin advertising эфир ethereum ethereum explorer перспективы ethereum habrahabr bitcoin bitcoin ethereum bitcoin видеокарты bag bitcoin алгоритм monero bitcoin pizza attack bitcoin капитализация ethereum plus bitcoin
обновление ethereum
monero калькулятор 1070 ethereum bitcoin торги monero github bitcoin cache vps bitcoin cryptonight monero bitcoin сбор bitcoin блок stock bitcoin monero краны bitcoin doubler bitcoin игры bitcoin apk биржа bitcoin bitcoin satoshi bitcoin index film bitcoin play bitcoin установка bitcoin bitcoin fox paidbooks bitcoin hit bitcoin Bank of Thailand’s and Project Inthanon.● Carving up crypto provides an overview of how regulators are thinking about cryptocurrency in financial services, both in the United States and abroad.stack contents.bitcoin avalon
bitcoin maining
ebay bitcoin bitcoin payment bitcoin 99 обмен monero collector bitcoin форумы bitcoin bitcoin деньги bitcoin стратегия
bitcoin de bank cryptocurrency bitcoin сети bitcoin клиент ethereum получить bitcoin халява курс ethereum bitcoin conveyor bitcoin заработок фермы bitcoin bitcoin фарминг bitcoin настройка ethereum twitter вклады bitcoin bitcoin aliens 'So the first answer to Why Now? is simply ‘Because it’s time.’ I can’t tell you why it took as long for weblogs to happen as it did, except to say it had absolutely nothing to do with technology. We had every bit of technology we needed to do weblogs the day Mosaic launched the first forms-capable browser. Every single piece of it was right there. Instead, we got Geocities. Why did we get Geocities and not weblogs? We didn’t know what we were doing.'bitcoin datadir monero пул ethereum farm bitcoin blue bitcoin multiplier bitcoin шахта mt5 bitcoin bitcoin neteller bitcoin эфир торговать bitcoin amazon bitcoin bitcoin casino bitcoin loans monero rub вход bitcoin bitcoin fpga ethereum forum monero майнеры keepkey bitcoin
flypool ethereum plus500 bitcoin ethereum котировки bitcoin обменники
tcc bitcoin tether clockworkmod халява bitcoin bitcoin майнинга bitcoin мошенничество
bitcoin игры
ethereum краны bitcoin государство
bitcoin javascript rx560 monero добыча monero 6000 bitcoin кредит bitcoin bitcoin circle lottery bitcoin ethereum создатель txid ethereum weekend bitcoin
bitcoin 4000 Never forget your passwordbitcoin monkey
bitcoin сборщик algorithm bitcoin bitcoin mastercard bitcoin пожертвование bitcoin кредит bitcoin hesaplama
bitcoin презентация cryptocurrency mining bitcoin форк bitcoin запрет заработай bitcoin bitcoin падение bitcoin reddit security bitcoin ethereum прогнозы tinkoff bitcoin cryptonator ethereum mine ethereum bitcoin зарегистрироваться
ethereum проблемы токены ethereum ico monero ethereum buy de bitcoin
ethereum btc bitcoin бонусы протокол bitcoin логотип ethereum ethereum википедия accelerator bitcoin airbit bitcoin cryptocurrency dash minergate bitcoin ethereum stats bitcoin rotators tether курс ethereum бутерин
See also: the 'Bitcoin is illegal because it's not legal tender' myth.tether валюта bitcoin alliance ethereum forum nova bitcoin bitcoin rpg торги bitcoin time bitcoin
bitcoin multibit space bitcoin 1 ethereum bitcoin escrow ethereum биржа виджет bitcoin magic bitcoin bitcoin баланс bitcoin gif краны monero поиск bitcoin bitcoin statistics polkadot блог
эмиссия ethereum ethereum swarm bitcoin land трейдинг bitcoin tether майнить бонус bitcoin ethereum github
серфинг bitcoin биржа monero bonus bitcoin bitcoin робот blender bitcoin planet bitcoin блокчейна ethereum заработать monero теханализ bitcoin bitcoin play платформ ethereum dog bitcoin Governments could not successfully ban the consumption of alcohol, the use of drugs, the purchase of firearms, or the ownership of gold. A government can marginally restrict access, or even make possession illegal, but it cannot make something of value demanded by a broad and disparate group of people magically go away. When the U.S. made the private ownership of gold illegal in 1933, gold did not lose its value or disappear as a monetary medium. It actually increased in value relative to the dollar, and just thirty years later, the ban was lifted. Not only does bitcoin provide a greater value proposition relative to any other good that any government has ever attempted to ban (including gold); but by its nature, it is also far harder to ban. Bitcoin is global and decentralized. It is without borders and it is secured by nodes and cryptographic keys. The act of banning bitcoin would require preventing open source software code from being run and preventing digital signatures (created by cryptographic keys) from being broadcast on the internet. And it would have to be coordinated across numerous jurisdictions, except there is no way to know where the keys actually reside or to prevent more nodes from popping up in different jurisdictions. Setting aside the constitutional issues, it would be technically infeasible to enforce a ban of bitcoin in any meaningful way.bitcoin cloud cryptocurrency dash nodes bitcoin bitcoin trading cryptocurrency charts fpga bitcoin freeman bitcoin эфир ethereum bitcoin golden app bitcoin android tether bitcoin free ninjatrader bitcoin
покер bitcoin By including the hash of the previous block, the other miners on the network can verify that those transactions contained in a block did come after those in the blocks that went before it. This collection of blocks in the sequence is the blockchain. Simple, right?bitcoin вход прогноз bitcoin monero faucet casper ethereum bitcoin sec bitcoin автосерфинг
ethereum упал nodes bitcoin биткоин bitcoin spend bitcoin Crypto makes it possible to transfer value online without the need for a middleman like a bank or payment processor, allowing value to transfer globally, near-instantly, 24/7, for low fees.сервера bitcoin скрипты bitcoin платформа bitcoin
разделение ethereum работа bitcoin пожертвование bitcoin
