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How big is bitcoin, really?
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Loading...Bitcoin burst into our financial consciousness like a fiery comet, setting the internet ablaze with visions of upending the existing global money system. Yet, by its nature as a cybercurrency, whose legitimacy only exists in the ether, its credibility leaves much room for debate.
The current value of all the bitcoin BTCUSD, +1.71% in the world is worth about $41 billion, according to the cost-estimating website.
That is undoubtedly more money than most Americans will ever see in their lifetime. But when it comes to bragging rights, bitcoin really is the poor relation.
As the HowMuch chart shows, the fattest bubble is for all the money in the world — including bank deposits — which comes out to $83.6 trillion.
The second biggest is for all the stocks trading across the globe, totaling $66.8 trillion, and more than double all the physical money in the world.
Gold is a distant fourth, at only about $8.2 trillion, while U.S. dollars in circulation add up to $1.5 trillion.
The next bubble is for Apple Inc. AAPL, -0.01% valued at about $730 billion, followed by Amazon.com Inc. AMZN, -0.09% at $402 billion.
Larry Page, co-founder of tech giant Google GOOGL, -0.20% and the 12th-richest on Forbes’ billionaires list, alone is worth all the bitcoin floating around in cyberspace, with a net worth of $41 billion.
As of yet, bitcoin does not command that level of respect given its wild swings recently. Nonetheless, the rise of cryptocurrencies in of itself suggests that people may be slowly losing faith in money and other traditional measures of wealth, according to Amoros.
Source: Bloomberg
Junior Trader Stefan Panteleev
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