After bitcoin’s release in 2009, bitcoin has escorted us into the era of blockchain. However, bitcoin not only paves us into blockchain technology but also into the era of altcoins. Both bitcoin and altcoins are solid contenders for overtaking fiat currencies.
But bitcoin currently has a lead in this race as bitcoin’s market value and cap are way higher than other altcoins. Bitcoin is a hot trading instrument; check Trading OX to know what bitcoin trading is. Moreover, bitcoin has got more attention from renowned parties. You might wonder how much of the world’s money is invested in bitcoin as the value of bitcoin is very high at the instance. Let’s calculate the amount of the world’s money invested in bitcoin as of November 2021.
What is the value of one bitcoin?
To calculate the amount of the world’s money invested in bitcoin, we should start with acknowledging the value of one bitcoin, making the entire process easy. Although, according to reports and market charts, the market cap of bitcoin is nearly $1.5 trillion, the net worth of Elon Musk, the founder of tesla motors, is nearly $300 billion, making bitcoin’s market cap four times more than one of the wealthiest persons in this world.
Bitcoin vs Gold!
You might wonder if we can compare gold with a virtual coin. Some mainstream investors consider gold the safest investment asset with a stable return. As per the comparative study, both bitcoin and gold resemble each other somehow. Bitcoin and gold are limited to finite supply as bitcoins are 21 million, and as per the world gold council figure, the amount of gold is 197,576 tons is already mined.
Gold miners can mine almost 2800 tons of gold every year, and by the end of November 2021, 202,291 tons of this precious metal will be mined. As per the latest reports, nearly 18.6 million bitcoin is in circulation. The total investment in gold from people of this world till now is $11.8 trillion, and bitcoin is just 11% of this entire investment, as the market cap of bitcoin is $1.3 trillion.
Altcoins
We all know that bitcoin is the GOAT for the cryptocurrency marketplace. However, the market cap of the entire cryptocurrency market is $2.48 trillion, and bitcoin underwrites half of it. Moreover, profound altcoins like a lite coin, Ethereum, and Binance also contribute a significant amount to the market cap of the cryptocurrency marketplace.
Know more about it
What is the entire market value of all bitcoin units?
As per the latest reports, the market value of bitcoin on the 10th of November in 2021 was $68000. Considering $68000 as the market value of one bitcoin unit, the total value of entire bitcoin units is nearly $1.6 trillion.
What is the market value of one bitcoin?
The market value of bitcoin keeps changing every hour; if the market value today is $57000, it might show an extreme amount of surge tomorrow or even a plunge.
What is the market cap of altcoins?
The market cap of altcoins combined is less than bitcoin; yes, it is correct. The market cap of altcoins combined at the instance is $1 trillion, whereas bitcoin’s market cap is $1.5 trillion. This is because Altcoins consists of advanced software and a more sophisticated approach. Still, bitcoin is much ahead of any of the altcoins. Top altcoins are Ethereum, Binance, and Cardano. Litecoin was the first altcoin. Still, the market cap of Ethereum is way more than lite coin. Ethereum is famous as a launchpad, and you can design a decentralized application using the blockchain of Ethereum.
The gas fees of the Ethereum model are very volatile and high due to proof of work. Therefore, Ethereum 2.0 will develop many changes such as proof of stakes and Ethereum improvement proposals. Moreover, after the launch of Ethereum 2.0, no miner will mine ether. Lately, many coins have been coming up with proof of stakes technology.
The technology can solve the intense energy consumption of cryptocurrency mining. In proof of work, any individual can participate in cryptocurrency mining, but a miner will randomly select to mine the coins in proof of stake. Every financial institution is waiting for Ethereum 2.0.
