Bitcoin's Market Value
As of April 10, 2024, Bitcoin's price surged to $70,665 per coin**, with **19.68 million BTC** in circulation. This translates to a staggering **$1.39 trillion market capitalization—a dramatic rise from its $472 billion valuation just a year prior.
Key Insights
- Bitcoin’s total value equals 0.3% of global wealth (~$469.8 trillion).
- It represents 7.6% of the world’s gold supply ($18.23 trillion).
- All cryptocurrencies combined account for 0.56% of global money.
Bitcoin vs. Global Wealth
Calculating Bitcoin’s share requires understanding the total money supply, which includes diverse assets like cash, metals, and debt. Based on Credit Suisse’s 2022 data ($454.4 trillion) adjusted for 2023 growth, Bitcoin’s $1.39 trillion cap comprises just 0.3% of global wealth.
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Bitcoin vs. Gold
Gold remains the benchmark for safe-haven assets. With 244,000 tons of gold mined (32,000 oz/ton) priced at $2,334.90/oz**, the total gold supply is valued at **$18.23 trillion. Bitcoin’s market cap is 7.6% of gold’s value.
Cryptocurrency Landscape
Beyond Bitcoin, Ethereum, Litecoin, and other cryptocurrencies push the sector’s total valuation to $2.6 trillion—0.56% of global money.
Risks to Consider:
- High volatility and liquidity challenges.
- Potential for price manipulation.
FAQ
What percentage of global money is Bitcoin?
Bitcoin constitutes 0.3% of all money (April 2024).
How much is invested in Bitcoin?
Total Bitcoin investment: $1.39 trillion.
Is $100 in Bitcoin worth it?
Historically, Bitcoin’s price soared from $500 (2014)** to **$70,665 (2024)—but future gains aren’t guaranteed.
Final Thoughts
Bitcoin serves as a digital store of value, payment method, or speculative asset. Its daily price swings reflect shifting investor sentiment, altering its share of global capital.
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Disclaimer: This analysis is for informational purposes only. The author held no Bitcoin at the time of writing.