How much is Bitcoin worth?
On September 10, 2023, 1 BTC was worth approximately $25,758. There were more than 19.48 million bitcoins in circulation, giving it a total value of more than $500 billion. This is far less than in 2021, when its value exceeded $64,000 – bringing its total value at that time to approximately $1.2 trillion.
Key learning points
- One bitcoin was worth $25,758 on September 10, 2023.
- All the bitcoins in the world were worth more than $500 billion.
- The combined value of bitcoin was equal to just 0.11% of the world’s money.
- Bitcoin was only worth about 3.4% of the world’s gold supply.
- All cryptocurrencies together accounted for about 0.23% of the world’s money.
Bitcoin and the money supply
To get an idea of how much money there is in bitcoins in the world, we need to determine the total amount of money. It turns out this isn’t the easiest question to answer. Such a calculation could take into account dozens of categories of wealth, including banknotes, precious metals, money market accounts and debt. Fortunately, Credit Suisse has already done the work: the bank calculated total global wealth at the end of 2022 at $454.4 trillion.
This means that Bitcoin amounts to approximately 0.11% of the estimated total value of global wealth.
Market capitalization is considered a controversial metric, especially when applied to cryptocurrencies. While it is a useful way to assess the overall 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 safe haven asset. It is certainly the standard against which other currencies should be compared. The US Geological Survey estimates that approximately 244,000 tons of gold had been mined as of September 10, 2023. There are 32,000 ounces of gold in one ton, and the price of gold per ounce was approximately $1,919.08 when the market closed on September 8, 2023. So the total value of all gold can be estimated as:
(244,000 tons of gold x 32,000 ounces per ton) x $1,919.08 per ounce = $14.98 trillion.
In total, the value of all Bitcoin was approximately 3.4% of the value of all above-ground gold reserves.
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 major cryptocurrencies, the total value comes to approximately $1.04 trillion (as of September 10, 2023). That was about 0.23% of the value of all money.
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 September 10, 2023, the value of all bitcoins was 0.11% of all money.
What is the total value of all Bitcoins?
The combined value of all bitcoins as of September 10, 2023 was approximately $504 billion.
How much does Bitcoin sell for?
On September 10, 2023, 1 BTC was worth approximately $25,758.
It comes down to
Bitcoin is a cryptocurrency, one of thousands of new digital or virtual currencies available worldwide. It can be used as a store of value, as a way to exchange value, or as a speculative investment. Its value changes daily, sometimes tens of dollars or more. It is a volatile asset whose market capitalization and percentage of total money changes almost daily.
The comments, opinions and analyzes expressed on Investopedia are online for informational purposes. Please read our warranty and liability disclaimer for more information. As of the date this article was written, the author does not own any bitcoin.