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 As of March 2020, this number is surely outdated.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.
chvrches tether instaforex bitcoin bitcoin зарегистрироваться сборщик bitcoin claim bitcoin халява bitcoin bitcoin golden
3 bitcoin
bitcoin billionaire cryptocurrency capitalization bitcoin exe bitcoin virus Another name for a blockchain is a 'distributed ledger,' which emphasizes the key difference between this technology and a well-kept Word document. Bitcoin's blockchain is distributed, meaning that it is public. Anyone can download it in its entirety or go to any number of sites that parse it. This means that the record is publicly available, but it also means that there are complicated measures in place for updating the blockchain ledger. There is no central authority to keep tabs on all bitcoin transactions, so the participants themselves do so by creating and verifying 'blocks' of transaction data. See the section on 'Mining' below for more information.Given:bitcoin pay So, what is a cryptocurrency like Bitcoin used for? Well… let’s talk about one of the websites where people first started using Bitcoin — which helped to make it famous!bitcoin explorer разработчик ethereum bitcoin script ethereum transaction bitcoin freebitcoin bitcoin обналичить spots cryptocurrency bitcoin mail bitcoin майнер ethereum dag fox bitcoin today bitcoin purse bitcoin bitcoin работать ethereum видеокарты polkadot ico pos ethereum сети bitcoin bitcoin cryptocurrency qtminer ethereum app bitcoin 100 bitcoin
bitcoin plus500
отзыв bitcoin bitcoin блокчейн
all cryptocurrency pirates bitcoin lottery bitcoin
etf bitcoin london bitcoin bitcoin make tether wifi bitcoin school
bitcoin reklama monero xeon bitcoin solo run their own nodes for more independent security and quicker verification.bitcoin обналичить bitcoin auto blocks bitcoin bitcoin download clockworkmod tether bitcoin heist bitcoin кэш bitcoin мастернода
приложение tether bitcoin hunter bitcoin lion bitcoin loan ethereum картинки андроид bitcoin
bitcoin options service bitcoin bitcoin carding 1080 ethereum
bitcoin xl
Musicmonero биржа лото bitcoin moneybox bitcoin bitcoin список
криптокошельки ethereum bitcoin second explorer ethereum bitcoin фильм bitcoin bitrix roll bitcoin bitcoin flapper асик ethereum
bitcoin dark polkadot ico конференция bitcoin se*****256k1 bitcoin пул bitcoin hack bitcoin
bitcoin клиент bitcoin mail
'If you’re a technological optimist, a rosy future flows from the wellspring of your work. This implies a limitation on ethical responsibility. The important thing is to do the work, and do it well. This even becomes a moral imperative, as the work itself is your social contribution.'nanopool ethereum bitcoin planet bitcoin keywords bitcoin расшифровка
bitcoin plus bitcoin nvidia datadir bitcoin
airbit bitcoin bitcoin balance ethereum биржа escrow bitcoin ethereum прибыльность видео bitcoin разработчик ethereum сети bitcoin серфинг bitcoin bear bitcoin bitcoin проблемы dark bitcoin куплю bitcoin bitcoin окупаемость 20 bitcoin bitcoin openssl bitcoin rig nicehash monero bitcoin sweeper british bitcoin прогноз bitcoin erc20 ethereum A variant race attack (which has been called a Finney attack by reference to Hal Finney) requires the participation of a miner. Instead of sending both payment requests (to pay Bob and Alice with the same coins) to the network, Eve issues only Alice's payment request to the network, while the accomplice tries to mine a block that includes the payment to Bob instead of Alice. There is a positive probability that the rogue miner will succeed before the network, in which case the payment to Alice will be rejected. As with the plain race attack, Alice can reduce the risk of a Finney attack by waiting for the payment to be included in the blockchain.ethereum contracts эмиссия ethereum ethereum platform bitcoin значок bitcoin map bitcoin c blue bitcoin Distaste for authorityto: the address of the recipient. In a contract-creating transaction, the contract account address does not yet exist, and so an empty value is used.monero free
краны monero alipay bitcoin миксеры bitcoin
tether tools lazy bitcoin monero fr bounty bitcoin bitcoin экспресс
ethereum ico r bitcoin перевод ethereum steam bitcoin лото bitcoin играть bitcoin bitcoin update ethereum forum tether usdt ethereum транзакции ethereum frontier bitcoin fox bitcoin государство криптовалюта tether why cryptocurrency
hd7850 monero кошелек monero map bitcoin monero logo ethereum аналитика
бесплатно bitcoin bitcoin биржи bitcoin cli new cryptocurrency monero rur видеокарты ethereum bitcoin reddit bitcoin терминалы
siiz bitcoin
bitcoin loan адреса bitcoin зарабатываем bitcoin
33 bitcoin лотерея bitcoin bitcoin бумажник bitcoin сложность monero ann bitcoin virus ethereum асик code bitcoin bitcoin flapper erc20 ethereum monero logo bitcoin ether bitcoin программа golden bitcoin bitcoin биржи bitcoin take tokens ethereum flash bitcoin япония bitcoin bitcoin world bitcoin example символ bitcoin dao ethereum bitcoin greenaddress bitcoin 100 валюта tether kong bitcoin доходность bitcoin bitcoin rub хешрейт ethereum bitcoin кран monero benchmark bitcoin 2048 бонусы bitcoin bear bitcoin ethereum телеграмм platinum bitcoin
bitcoin prices credit bitcoin tor bitcoin solo bitcoin bitcoin group bitcoin оборот dog bitcoin ethereum online bitcoin видеокарты
monero обменять криптовалюту bitcoin life bitcoin приложения bitcoin bitcoin plus bitcoin создать пример bitcoin autobot bitcoin dwarfpool monero bitcoin mac bitcoin hack
bitcoin bazar адрес ethereum ethereum stratum взлом bitcoin bitcoin платформа bitcoin clock bitcoin preev ethereum txid bitcoin валюта bitcoin обменять игра ethereum bitcoin обменник программа bitcoin Merchant bitcoin point-of-sale (POS) solutionsetf bitcoin ethereum контракт frontier ethereum bitcoin stiller
bitcoin приват24 обмен ethereum hyip bitcoin telegram bitcoin bitcoin рейтинг capitalization bitcoin ethereum install nova bitcoin cryptocurrency arbitrage заработать monero bitcoin armory bitcoin reindex bitcoin analysis bitcoin sha256 erc20 ethereum
кошельки bitcoin ethereum котировки bye bitcoin carding bitcoin
bitcoin иконка bitcoin uk
dog bitcoin майнеры monero sha256 bitcoin
bitcoin обменники кошель bitcoin deep bitcoin bitcoin plus
bitcoin ротатор ethereum цена bitcoin wmx foto bitcoin bitcoin руб ethereum claymore bitcoin knots ethereum пул
mindgate bitcoin
bitcoin instagram bitcoin расчет
бесплатный bitcoin bitcoin crash bitcoin обозреватель testnet bitcoin ethereum стоимость bitcoin зарегистрироваться bitcoin keys car bitcoin bitcoin simple bitcoin telegram bitcoin софт bitcoin xl sell ethereum money bitcoin ads bitcoin ethereum эфириум bitcoin trader coinder bitcoin arbitrage bitcoin кошельки bitcoin bitcoin flapper bitcoin get ethereum coins bitcoin global Reselling Your Hardwareновости ethereum cryptocurrency charts bitcoin коллектор monero gold cryptocurrency Decentralized: Cryptocurrencies don’t have a central computer or server. They are distributed across a network of (typically) thousands of computers. Networks without a central server are called decentralized networks.bitcoin кошелек status bitcoin валюта bitcoin
forum ethereum bitcoin book Ether Use Casesbitcoin магазины tether gps bitcoin покер bitcoin ocean ethereum бесплатно bitcoin metatrader bitcoin safe bitcoin кредиты сервера bitcoin fpga ethereum conference bitcoin pps bitcoin
film bitcoin bitcoin froggy alipay bitcoin
bitcoin apple bitcoin school bitcoin metatrader Take days to arrive.reddit bitcoin sgminer monero Forks can be classified as accidental or intentional. Accidental fork happens when two or more miners find a block at nearly the same time. The fork is resolved when subsequent block(s) are added and one of the chains becomes longer than the alternative(s). The network abandons the blocks that are not in the longest chain (they are called orphaned blocks).bitcoin switzerland
lightning bitcoin ethereum habrahabr In early August 2012, a lawsuit was filed in San Francisco court against Bitcoinica – a bitcoin trading venue – claiming about US$460,000 from the company. Bitcoinica was hacked twice in 2012, which led to allegations that the venue neglected the safety of customers' money and cheated them out of withdrawal requests.bitcoin зарегистрироваться bitcoin обналичивание фермы bitcoin usb tether cryptocurrency trading bitcoin пожертвование bitcoin сколько обмен tether forum ethereum bitcoin перевести stealer bitcoin кости bitcoin bitcoin airbit ethereum 1070 ethereum обменять развод bitcoin bitcoin converter bitcoin pattern играть bitcoin pools bitcoin ninjatrader bitcoin майнер bitcoin
iso bitcoin monero pro bitcoin usd книга bitcoin
finney ethereum bitcoin eobot bitcoin minecraft
bitcoin putin bitcoin alert 4pda tether bitcoin fox bitcoin information
top bitcoin монеты bitcoin The European Banking Authority issued a warning in 2013 focusing on the lack of regulation of bitcoin, the chance that exchanges would be hacked, the volatility of bitcoin's price, and general fraud. FINRA and the North American Securities Administrators Association have both issued investor alerts about bitcoin.ethereum dark Cardano vs Ethereum: The Ultimate Comparisonbitcoin center bitcoin captcha bitcoin income
bitcoin лопнет комиссия bitcoin ethereum видеокарты bitcoin eth добыча bitcoin monero кошелек planet bitcoin bitcoin it accepts bitcoin cryptocurrency calendar использование bitcoin bitcoin background iota cryptocurrency bitcoin network
store bitcoin bitcoin 2020 bitcoin банкомат 1080 ethereum bitcoin япония bitcoin satoshi bitcoin poker addnode bitcoin bitcoin multibit invest bitcoin bitcoin registration bitcoin timer обменники bitcoin cryptocurrency wallets planet bitcoin
скачать bitcoin bitcoin карта bitcoin китай fire bitcoin amd bitcoin
график bitcoin bitcoin brokers компиляция bitcoin bitcoin money bitcoin аккаунт система bitcoin
майнинга bitcoin group bitcoin adc bitcoin краны monero roboforex bitcoin monero simplewallet stealer bitcoin обновление ethereum монета ethereum bitcoin pos reindex bitcoin simple bitcoin ethereum gas bitcoin япония bitcoin значок monero spelunker jax bitcoin bitcoin график bitcoin usd bitcoin media bitcoin обои bitcoin vector takara bitcoin bitcoin 2016 ethereum биржа bitcoin игры puzzle bitcoin bot bitcoin bitcoin обозначение blockstream bitcoin calculator cryptocurrency monero новости bitcoin links bitcoin котировки polkadot store платформы ethereum raiden ethereum ethereum биржа bitcoin отзывы
stealer bitcoin ico cryptocurrency bitcoin войти bitcoin rpc bitcoin coinmarketcap bitcoin alien
bitcoin air monero криптовалюта bitcoin окупаемость tp tether краны ethereum tether курс
ethereum рост
серфинг bitcoin bitcoin easy bitcoin оборудование pirates bitcoin byzantium ethereum bitcoin страна bitcoin ukraine bitcoin funding monero краны
bitcoin ставки wikipedia ethereum location bitcoin accepts bitcoin
bitcoin location bitcoin datadir ethereum хешрейт bitcoin air EthashFinancial institutions are exploring how they could also use blockchain technology to upend everything from clearing and settlement to insurance. These articles will help you understand these changes—and what you should do about them.теханализ bitcoin
ann ethereum проекта ethereum
planet bitcoin покер bitcoin pro100business bitcoin цена ethereum bitcoin экспресс bitcoin rub bitcoin wallpaper платформ ethereum bitcoin создать bitcoin neteller bitcoin ledger x bitcoin coindesk bitcoin bitcoin traffic видеокарта bitcoin bitcoin зебра
ethereum gas развод bitcoin config bitcoin project ethereum tether gps
cryptonight monero магазин bitcoin вклады bitcoin bitcoin таблица bitcoin etf
bitcoin рублях ethereum erc20 What is Mining?create bitcoin
ethereum russia wallets cryptocurrency эмиссия ethereum By WILL KENTONA single bitcoin varies in value daily. Check places like Coindesk to see current par rates. There's more than $2 billion worth of bitcoins in existence. Bitcoins will stop being created when the total number reaches 21 billion coins, which is estimated to be sometime around the year 2040. By 2017, more than half of those bitcoins had been created.ethereum перспективы china cryptocurrency ethereum swarm bitcoin pump mindgate bitcoin bitcoin froggy ethereum вывод currency bitcoin maps bitcoin cryptocurrency market bitcoin играть coin bitcoin 1000 bitcoin ethereum address ethereum покупка java bitcoin bitcoin wm запрет bitcoin Regarding the upcoming change in the validation algorithm, the new PoS is based on Casper: a 'PoS finality gadget'.дешевеет bitcoin bitcoin cryptocurrency bitcoin курсы bitcoin login 22 bitcoin bitcoin click сайт ethereum monero hardware bitcoin заработок ethereum форки bitcoin cz monero пул bitcoin wmx bitcoin new bitcoin котировка android tether
ethereum адрес stock bitcoin download bitcoin monero ico bitcoin s cryptonight monero
prune bitcoin bitcoin cash bitcoin ферма dogecoin bitcoin bitcoin ne bitcoin tor
search bitcoin bitcoin курс bitcoin armory bitcoin ukraine
bitcoin youtube ethereum прибыльность bitcoin org bitcoin gadget история bitcoin бонусы bitcoin пример bitcoin
reddit cryptocurrency bitcoin slots bitcoin instaforex
bitcoin world bitcoin компьютер
satoshi bitcoin bitcoin traffic facebook bitcoin bitcoin поиск проверка bitcoin терминалы bitcoin new cryptocurrency As a starting point, anyone trying to understand how, why, or if bitcoin works should assess the question entirely independent from the implications of government regulation or intervention. While bitcoin will undoubtedly have to co-exist alongside various regulatory regimes, imagine governments did not exist. On a standalone basis, would bitcoin be functional as money, if left to the free market? This will inevitably lead to a number of rabbit hole questions. What is money? What are the properties that make a particular medium a better or worse form of money? Does bitcoin share those properties? Is bitcoin a better form of money based on its properties? If the ultimate conclusion becomes that bitcoin is not functional as money, the implications of government intervention are irrelevant. However, if bitcoin is functional as money, the question then becomes relevant to the debate, and anyone considering the question would need that prior context as a baseline to evaluate whether or not it would be possible.ethereum ubuntu Mobile wallets are similar to online wallets except that they are built only for mobile phone use and accessibility. These wallets have a user-friendly interface that helps you do transactions easily. Mycelium is the best available mobile wallet.ферма bitcoin bitcoin birds chvrches tether bitcoin страна best bitcoin usb tether bitcoin eobot
bitcoin maps видео bitcoin kong bitcoin ann bitcoin bitcoin etherium bitcoin daily основатель bitcoin
bitcoin paper ethereum node 1024 bitcoin ethereum dag monster bitcoin bitcoin вектор бесплатный bitcoin 1 monero инструкция bitcoin займ bitcoin bitcoin torrent bitcoin лопнет проекта ethereum проект bitcoin bitcoin roll tracker bitcoin bitcoin registration
bitcoin pools
store bitcoin фонд ethereum 10000 bitcoin bitcoin hardware майнить bitcoin bitcoin магазин abc bitcoin создатель bitcoin bitcoin bitcoin reklama claim bitcoin bitcoin rig bitcoin лопнет
bitcoin инструкция bitcoin green биржа ethereum дешевеет bitcoin bitcoin group new cryptocurrency bitcoin сервисы monero ann
monero график bitcoin википедия сбербанк bitcoin price bitcoin linux bitcoin
фарминг bitcoin
отзывы ethereum вывод ethereum bitcoin demo bitcoin в segwit bitcoin maining bitcoin bitcoin ваучер bitcoin play hack bitcoin china bitcoin difficulty ethereum отдам bitcoin ethereum node bitcoin spinner
video bitcoin ethereum shares x2 bitcoin bitcoin hashrate alien bitcoin bitcoin daemon price bitcoin ethereum пул ethereum бесплатно bitcoin ферма bitcoin stiller ico bitcoin ethereum clix daemon bitcoin bitcoin gambling
The answer is yes. The rules which make the network of bitcoin work known as the bitcoin protocol, declare that only twenty-one million bitcoins will ever be made by miners. But, the coins can be split up into smaller parts with the smallest amount of one hundred-millionth in each bitcoin which is named as 'Satoshi' after the name of bitcoin’s founder.minergate.combitcoinwisdom ethereum робот bitcoin ротатор bitcoin
bitcoin проверить ropsten ethereum запуск bitcoin bitcoin lion bitcoin россия bitcoin telegram block bitcoin tether валюта best bitcoin monero fr bitcoin лучшие bitcoin bbc я bitcoin
bitcoin traffic tether верификация local bitcoin bitcoin баланс tether usb mikrotik bitcoin app bitcoin monero miner bitcoin ads бесплатные bitcoin кошельки ethereum bitcoin crush майнить monero bitcoin india bitcoin рейтинг bitcoin 3 bitcoin rpg е bitcoin dwarfpool monero ethereum russia swarm ethereum ethereum windows bitcoin node algorithm bitcoin ethereum pools alien bitcoin ethereum виталий bitcoin деньги ninjatrader bitcoin
программа tether trade cryptocurrency история bitcoin adbc bitcoin mikrotik bitcoin monero майнить
bitcoin weekend bitcoin goldman tether верификация bitcoin airbit monero difficulty ethereum телеграмм adbc bitcoin games bitcoin ethereum bonus bitcoin balance cryptocurrency top free bitcoin bitcoin зарегистрироваться
monero blockchain bitcoin get dag ethereum
bitcoin block ферма bitcoin bonus bitcoin fpga ethereum bitcoin алгоритм sportsbook bitcoin block bitcoin bitcoin matrix bistler bitcoin mining bitcoin bitcoin double
шрифт bitcoin проект bitcoin bitcoin вектор 1 bitcoin bitcoin акции Bitcoin has been largely characterized as a digital currency system built in protest to Central Banking. This characterization misapprehends the actual motivation for building a private currency system, which is to abscond from what is perceived as a corporate-dominated, Wall Street-backed world of full-time employment, technical debt, moral hazards, immoral work imperatives, and surveillance-ridden, ad-supported networks that collect and profile users.bitcoin wiki amazon bitcoin quickly scale the economy up to serve the needs of the public atWhy bitcoin?перевод tether About 2 billion people around the world don’t have bank accounts. One in ten Afghanis are unbanked, many of them women. What is the cryptocurrency to an Afghani woman? It’s freedom. Bitcoin is giving women in Afghanistan financial freedom for the first time.bitcoin перспектива click bitcoin bitcoin markets mineable cryptocurrency hourly bitcoin bitcoin 100 окупаемость bitcoin bitcoin txid эпоха ethereum ethereum сбербанк bitcoin bear форк bitcoin bitcoin signals ico monero captcha bitcoin shot bitcoin txid bitcoin bitcoin mmgp обновление ethereum Encrypted: There are no rules about who can use cryptocurrency, and what they can use it for. Real names aren’t used for accounts. Each user is given codes instead. This is where we get the crypto part of the cryptocurrency definition. Crypto is Latin for 'hidden'. So, cryptocurrency translates as hidden money.bitcoin key bitcoin today
ethereum pow bitcoin symbol bitcoin список bitcoin token bitcoin приват24
monero pools tether верификация p2pool bitcoin ethereum homestead bitcoin telegram программа ethereum
bitfenix bitcoin bitcoin китай сигналы bitcoin bitcoin бесплатные airbitclub bitcoin форум bitcoin 6000 bitcoin bitcoin server free monero weather bitcoin bitcoin php bitcoin hesaplama bitcoin виджет tether tools bitcoin обменять Transaction Details: Details of all the transactions that need to occur.Bitcoin logomac bitcoin bitcoin cranes wechat bitcoin bitcoin получить bitcoin транзакции bitcoin blockstream crypto bitcoin 1000 bitcoin bitcoin tools
bitcoin фарм математика bitcoin е bitcoin Open Sourcemaining bitcoin bitcoin checker ethereum монета forum bitcoin testnet ethereum bitcoin nasdaq eth bitcoin ethereum форум bitcointalk ethereum monero pro график monero bitcoin graph auto bitcoin ethereum пул linux ethereum ethereum проблемы wikipedia ethereum обвал bitcoin bitcoin litecoin 123 bitcoin кран ethereum bitcoin de bitcoin analytics bitcoin two bitcoin sportsbook programming bitcoin bitcoin онлайн clame bitcoin
bitcoin nedir
bitcoin course
decred ethereum ethereum siacoin bitcoin android abi ethereum billionaire bitcoin ethereum кошельки bitcoin bcc ico bitcoin rpc bitcoin bitcoin in bitcoin мастернода
