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This chart should put the size of bitcoin in perspective
Intro: Bill Gates's net worth still beats bitcoin's entire market cap; HowMuch.net on 21st June 2017 put things into perspective and demonstrated that for all the buzz and excitement bitcoin has generated, it still has a long way to...
...go to be even remotely relevant. The current value of all the bitcoin (BTCUSD) in the world is worth about USD 41 billion, according to the cost-estimating website. As the HowMuch chart shows, the fattest bubble is for all the money in the world - including bank deposits - which comes out to USD 83.6 trillion.
The second biggest is for all the stocks trading across the globe, totaling USD 66.8 trillion, and more than double all the physical money in the world. For all its glitter, the total value of gold is a distant fourth, at only about USD 8.2 trillion, while U.S. dollars in circulation add up to $1.5 trillion. The next bubble is for Apple Inc. valued at about USD 730 billion, followed by Amazon.com Inc. at USD 402 billion.
Meanwhile, the value of all the cryptocurrencies in existence, such as Litecoin and Monero, checks in at USD 100 billion, slightly ahead of Bill Gates Microsoft who claims a net worth of USD 86 billion as the richest man in the world.
Larry Page, co-founder of tech giant Google and the 12th-richest on Forbes' billionaires list, alone is worth all the bitcoin floating around in cyberspace, with a net worth of USD 41 billion.
Money is about trust.
Hence, the U.S. dollar (DXY) as the monetary representation of the biggest economy in the world, is also the reserve currency of choice for many foreign governments.
Money, of course, is fiduciary, which means it only has as much value as the trust we place in it. The same goes for gold: it derives its value solely from its rarity, combined with its desirability. The current world supply of mined gold is around 171,300 metric tonnes, which could be molded into a cube with sides of about 68 feet (20.7m). Its total value? Currently around $8.2 trillion. Or about 200 times the total value of Bitcoin (or Larry Page)...
Bitcoin - on the other hand - is the cryptocurrency that refuses to die. Its demise has been predicted numerous times, and one expert calculated that its value is eighteen times more volatile than the U.S. dollar. Yet the virtual money keeps going from strength to strength. Bitcoin is the Uber of cryptocurrencies: the biggest, baddest and best-known, but not the only one. Add it up to Litecoin, Monero and all the others, and the total volume of virtual money floating around the internet, out of the reach of governments and banks, is a whopping USD 100 billion. That is about as much as the current GDP of Morocco - the 60th-largest economy in the world.
Earlier this year, the price of a Bitcoin surpassed that of an ounce of gold for the first time. As mentioned before: Currently, all the bitcoin in the world is worth USD 41 billion.
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The question remains: The amount already (?) reached over USD 40 bn, or ONLY (?) a fraction of 1 trillion USD...Let's stay connected...
And DON'T FORGET: Cryptocurrencies are RISKY !!
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