How Much Is Bitcoin Worth?
On April 10, 2024, one bitcoin was worth more than $70,000 (at the time of writing its price was $70,665). There were more than 19.68 million bitcoins circulating, giving it a total value of over $1.39 trillion. This is a stark contrast to its price and market cap one year previous, when there were about 19.35 million bitcoin circulating with a $472 billion market cap.
Key Takeaways
- One bitcoin was worth about $70,665 on April 10, 2024.
- All the bitcoins in the world were worth more than $1.39 trillion.
- The combined value of bitcoin was equivalent to just 0.3% of the world's money.
- Bitcoin was worth only about 7.6% of the world's gold supply.
- All cryptocurrencies combined accounted for about 0.56% of the world's money.
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 banknotes, precious metals, money market accounts, and debt. Luckily, Credit Suisse has already done the work—the latest calculations from the bank resulted in global wealth being $454.4 trillion at the end of 2022.
Assuming that the total wealth growth rate calculated by the bank remained the same over 2023, total global wealth would be about 469.8 trillion, leaving Bitcoin at about 0.3% of the estimated total value of wealth globally.
Market capitalization is considered a controversial metric, especially when applied to cryptocurrencies. Although it's a convenient way to assess the total value of an asset, it is highly subject to manipulation.
Bitcoin vs. Gold
How does Bitcoin compare to gold? After all, some people still consider gold to be the safest of safe haven assets. It is certainly the standard to which other currencies must be compared. The U.S. Geological Survey estimated that about 244,000 tons of gold has been discovered. There are 32,000 ounces of gold in one ton, and the price of gold per ounce was about $2,334.90 as of the market close on April 10, 2024. So, 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.
In total, the value of all Bitcoin was about 7.6% of the value of all above-ground gold reserves.
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 other cryptocurrencies, the total value comes to roughly $2.6 trillion (on April 10, 2024). That was about 0.56% of the value of all money.
Warning
Bitcoin and other cryptocurrencies are highly volatile, illiquid, and vulnerable to slippage and price manipulation. Before investing, make sure you understand the risks associated with virtual assets.
What Percentage of All Money Is Bitcoin?
Bitcoin's percentage of all money is much lower than you might expect. On April 10, 2024, the value of all bitcoins was 0.3% of all money.
What Is the Total Amount of Money Invested in Bitcoin?
The combined value of all bitcoins on April 10, 2024 was about $1.39 trillion.
Is It Worth Having $100 in Bitcoin?
It depends on your outlook, preferences, and whether you enjoy speculating. One bitcoin was worth about $70,665 on April 10, 2024, a significant jump from 10 years previous. That trend may or may not continue in the future.
The Bottom Line
Bitcoin is a cryptocurrency, one of the thousands of new digital or virtual currencies available globally. It can be used as a store of value, a way to exchange value, or as a speculative investment. Its value changes daily, sometimes hundreds of dollars or more, which changes how much global capital is invested in it.
The comments, opinions, and analyses expressed on Investopedia are for informational purposes online. Read ourwarranty and liability disclaimerfor more info. As of the date this article was written, the author does not own bitcoin.
FAQs
Key Takeaways
All the bitcoins in the world were worth more than $1.39 trillion. The combined value of bitcoin was equivalent to just 0.3% of the world's money. Bitcoin was worth only about 7.6% of the world's gold supply. All cryptocurrencies combined accounted for about 0.56% of the world's money.
What percentage of all money is Bitcoin? ›
Key Takeaways
All the bitcoins in the world were worth more than $1.39 trillion. The combined value of bitcoin was equivalent to just 0.3% of the world's money. Bitcoin was worth only about 7.6% of the world's gold supply. All cryptocurrencies combined accounted for about 0.56% of the world's money.
How much money is held in Bitcoin? ›
Bitcoin's approval has seemingly attracted renewed investor interest, as the value of all bitcoin in circulation exceeded $1 trillion for the first time since 2021 on Wednesday.
How much is the total Bitcoin worth in the world? ›
The global cryptocurrency market cap today is $2.7 Trillion, a -0.55% change in the last 24 hours and 121.77% change one year ago. As of today, the market cap of Bitcoin (BTC) is at $1.34 Trillion, representing a Bitcoin dominance of 49.67%.
How much will I get if I put $1 dollar in Bitcoin? ›
1 USD equals 0.000015 BTC. The current value of 1 United States Dollar is -2.67% against the exchange rate to BTC in the last 24 hours. The current Bitcoin market cap is $1.34T. Create a free Kraken account to instantly convert USD to BTC today.
Who owns 90% of Bitcoin? ›
As of March 2023, the top 1% of Bitcoin addresses hold over 90% of the total Bitcoin supply, according to Bitinfocharts.
How much does $100 Bitcoin sell for? ›
BTC to USD
| Amount | Today at 1:20 pm |
|---|
| 50 BTC | $3,474,553.50 |
| 100 BTC | $6,949,107.00 |
| 500 BTC | $34,745,535.00 |
| 1,000 BTC | $69,491,070.00 |
4 more rowsWhy should you know how many bitcoins exist and how many are left to mine? Limited Supply: Bitcoin has a maximum supply of 21 million coins, and as of March 2023, more than 19 million have been mined. Remaining bitcoins: There are approximately 1.5 million bitcoins left to be mined.
Should I put 10k in Bitcoin? ›
You shouldn't invest $10,000 in Bitcoin if you can't stomach the near-term volatility. This is still a cryptocurrency that could be easily cut in half before it doubles.
How much will 1 Bitcoin be worth in 2030? ›
Bitcoin (BTC) Price Prediction 2030
| Year | Price |
|---|
| 2025 | $ 71,272.15 |
| 2026 | $ 74,835.76 |
| 2027 | $ 78,577.54 |
| 2030 | $ 90,963.33 |
1 more rowCurrent BTC to USD exchange rate
1 BTC equals 68,394.00 USD. The current value of 1 Bitcoin is -0.88% against the exchange rate to USD in the last 24 hours. The current Bitcoin market cap is $1.35T.
How much is a full Bitcoin worth today? ›
About Bitcoin
The Bitcoin price is $68,846.47, a change of 2.29% over the past 24 hours as of 1:00 p.m. The recent price action in Bitcoin Read more...
How much Bitcoin does Elon Musk own? ›
The co-founder of Tesla Inc. revealed on Twitter that he owns only a tiny fraction of one bitcoin token. "I literally own zero cryptocurrency, apart from . 25 BTC that a friend sent me many years ago," Musk confessed.
What if I bought Bitcoin 5 years ago? ›
Bitcoin prices have fallen over 30% from their high twice, and over 60% once, over the past five years alone! But you'd be pretty happy if you'd bought five years ago and held on for dear life. A $1,000 investment in Bitcoin five years ago will have grown to over $13,000 today.
Is $100 dollars enough to buy Bitcoin? ›
A $100 investment in Bitcoin may seem like very little, but it is an excellent start to getting involved in digital currencies. The Bitcoin market is known for its volatility, but the real query lies in what returns you might anticipate from an initial investment.
What percentage of the market is Bitcoin? ›
Today's Cryptocurrency Prices by Market Cap
The total volume in DeFi is currently $5.9B, 9.17% of the total crypto market 24-hour volume. The volume of all stable coins is now $58.19B, which is 90.43% of the total crypto market 24-hour volume. Bitcoin's dominance is currently 52.52%, a decrease of 0.49% over the day.
What percentage of the world owns 1 Bitcoin? ›
In reality, only 2.3% of all Bitcoin owners own 1 BTC or more (worth around $35K per Bitcoin as of November 6th, 2023). In addition to Bitcoin ownership primarily spread across multiple small holders, most of Bitcoin's largest holders represent “the many” rather than a few.
What is the US dollar backed by? ›
Prior to 1971, the US dollar was backed by gold. Today, the dollar is backed by 2 things: the government's ability to generate revenues (via debt or taxes), and its authority to compel economic participants to transact in dollars.
Is Bitcoin the future of money? ›
Some bitcoin proponents view the cryptocurrency as a hedge against inflation because the supply is permanently fixed, unlike those of fiat currencies, which central banks can expand indefinitely. However, after bitcoin plummeted amid stock market volatility in 2022, many experts questioned this argument.
