Total Financial Value of Bitcoin
- What is the worth of Bitcoin?
- Gold vs. Bitcoin
Since its launch in 2009, a new era of digital currencies and blockchain technology has started.
- As of November 26, 2021, the price of each Bitcoin was recorded at $54,572.
- The total net worth of Bitcoin in the world is around $1.03 trillion.
- Combined value of Bitcoin is 2.9% of the world’s money and about 11.4% of the world’s gold supply.
- All cryptocurrencies together accounted for 7% of the world’s total money.
What is the worth of Bitcoin?
As per the data provided by CoinMarketCap, the total value of all the Bitcoins in the world is over $1.03 trillion on November 26, 2021. In comparison to Amazon founder Jeff Bezos who’s estimated net worth as per Forbes is $205.7 billion, the market cap of Bitcoin is 5 times more than that of Jeff Bezos fortune.
Bitcoin and Money Supply
In order to determine the total world’s money in Bitcoins, it is essential to first identify the total amount of money. There are a number of factors that are required to be considered in wealth, such as banknotes, money market accounts, debt and precious metals. This computation was attempted by the Money Project in May of 2020 and the total amount of money estimated was around $35.2 trillion in global narrow money. Bitcoin is about 2.9% of the total money estimated by Money Project’s report.
Gold vs. Bitcoin
In comparison to Gold, which by many is considered to be the safest asset, Bitcoin is valued around 11.4% of the value of all the gold. The total gold estimated as of November 26, 2021 is around 202,291 tonnes. Hence, the total estimated cost of all the gold up till November 26, 2021 is estimated around $11.8 trillion.
Some Other Cryptocurrencies
The largest and the well-known cryptocurrency present in the global economy is Bitcoin. But it is not the only cryptocurrency available. Cryptocurrencies such as Litecoin, Ethereum, Monero and many more have gained a lot of popularity. When all these cryptocurrencies are combined with Bitcoin the total value of cryptocurrency is estimated to be around $2.48 trillion. This value of all the cryptocurrency is about 7% of the world’s total money.
Disclaimer: The article should not be considered as any financial advice. It is advisable to conduct thorough research before investmen
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