How much is a Bitcoin worth?
On April 10, 2024, one Bitcoin was worth more than $70,000 (as of this writing, the price was $70,665). There were over 19.68 million Bitcoins in circulation, with a total value of over $1.39 trillion. This is in stark contrast to the price and market capitalization from a year ago, when approximately 19.35 million Bitcoins were in circulation and the market capitalization was $472 billion.
Bitcoin and the Money Supply
To find out how much of the world’s money is in Bitcoin, we need to determine the total amount of money. As it turns out, this question is not easy to answer. Such calculations can take into account dozens of asset categories, including paper money, precious metals, money market accounts, and debt. Fortunately, Credit Suisse is already doing that job. According to the bank’s latest calculations, global assets at the end of 2022 were $454.4 trillion.
Assuming that the total asset growth rate calculated by the bank remains the same in 2023, total global assets would be approximately 469.8 trillion, and Bitcoin would account for approximately 0.3% of the estimated global total assets.
Bitcoin vs. Gold
What is the difference between Bitcoin and Gold? After all, some people still consider gold to be the safest haven. Indeed, this is the standard against which other currencies should be compared. According to U.S. estimates, the Geological Survey has discovered about 244,000 tons of gold. One tonne contains 32,000 ounces of gold, and the gold price per ounce was approximately $2,334.90 at market close on April 10, 2024. Therefore, the total value of all gold can be estimated as:
- (244,000 tons of gold x 32,000 ounces per ton) x $2,334.90 per ounce = $18.23 trillion.
- Overall, the value of Bitcoin as a whole was about 7.6% of the gold reserves above ground.
Other Cryptocurrencies
Bitcoin is the largest and most well-known cryptocurrency in the global economy. But that’s not all. Bitcoin, Litecoin, Monero, Ethereum, and all other cryptocurrencies combined have a total value of approximately $2.6 trillion (as of April 10, 2024). This corresponds to approximately 0.56% of the total value of money.
What percentage of all money is Bitcoin?
Bitcoin’s percentage of all money is much smaller than expected. On April 10, 2024, the total value of Bitcoin was 0.3% of the total money.
What is the total value of investments in Bitcoin?
The total value of all Bitcoins as of April 10, 2024 was approximately $1.39 trillion.
Is it worth having $100 in Bitcoin?
It depends on your attitude, preferences, and whether you like to speculate. On April 10, 2024, one Bitcoin was worth approximately $70,665, a significant increase from 10 years ago. This trend may or may not continue in the future.
The Final Word
One of the millions of new digital or virtual currencies that are available worldwide is called Bitcoin. It can be invested speculatively, utilized as a store of value, or as a means of exchanging wealth. Its value fluctuates every day, often by hundreds of dollars or more, which affects the amount of capital invested in it globally.
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