Market capitalization (often shortened to market cap) is the approximate total value of a cryptocurrency, typically shown in US dollars. The market cap of a cryptocurrency is calculated by multiplying the number of coins or tokens in existence by its current price. Even after Bitcoin has lost its undisputed dominance, it remains the largest cryptocurrency, with a market capitalization that fluctuated between $$ billion in , owing in large part to the ubiquitousness of platforms that provide use-cases for BTC: wallets, exchanges, payment services, online games and more. Bitcoin price today is $22, USD with a hour trading volume of $54,,, USD. Bitcoin is up % in the last 24 hours. The current CoinMarketCap ranking is #1, with a market cap of $,,, USD. It has a circulating supply of 18,, BTC coins and a max. supply of 21,, BTC coins.
Bitcoin market value totalBitcoin vs. Ethereum: What's the Difference?
Here's what they are, and how they've combined to beat the market. Previous halving events were preceded with a sharp rally in bitcoin as anticipation of the event grew. In , new bitcoin rewards to miners were halved from 50 to 25, and in , they were halved again from 25 to Institutional investors allocating a piece of their portfolios to bitcoin has always been a scenario talked up by bullish crypto investors. On Thursday, Bloomberg reported that billionaire hedge fund manager Paul Tudor Jones would start buying bitcoin.
Jones told clients that one of his funds could have a low-single-digit percentage allocation to bitcoin futures. There is a growing belief that bitcoin will serve as an effective hedge against a potential rise in inflation. Whereas governments can print an unlimited amount of money for various fiscal and monetary policies, similar to physical gold, the supply of bitcoin is fixed.
The supply of bitcoin is fixed at 21 million coins. It is estimated that of the 21 million total coins, 18 million have been mined already.
Bitcoin acting as an inflation hedge has been picking up steam as the US Fed's balance sheet has expanded by trillions of dollars in just a matter of weeks to fund stimulus programs aimed at mitigating the economic damage caused by the coronavirus pandemic. As outlined in the chart below, technically, bitcoin is pushing up against a key resistance level. 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, We will calculate the total value of Bitcoin first because that is the easy part. 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.
As of March , this number is surely outdated. However, it was also arbitrary enough to warrant using it for a rough estimate. That leaves Bitcoin at about 0. 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. 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 , tonnes of gold had been mined throughout history as of the end of There are 32, In total, the value of all bitcoin was about 1.
Bitcoin is the largest and best-known cryptocurrency in the global economy. However, it is far from the only one. The Money Project. World Gold Council. London Bullion Market Association. Company Profiles. Your Money. Personal Finance. Your Practice.
Popular Courses. Part Of. Bitcoin Basics.