Bitcoin, whether you love it or hate it, has become a heavyweight in the global wealth ring. But here’s the kicker: it only makes up about 0.3% of the world’s wealth. That’s right. A mere sliver. As of April 10, 2024, Bitcoin‘s combined value sits at over $1.39 trillion. But when you stack that against the colossal $18.23 trillion value of gold, it’s like bringing a rubber knife to a gunfight. Bitcoin’s value? Just around 7.6% of gold’s. Ouch.
Bitcoin may be a heavyweight, but it’s still just a sliver of global wealth, overshadowed by gold.
Now, let’s talk numbers. Over 19.68 million bitcoins are out there, but hold onto your hats: about 0.5% of addresses control more than 85% of all those coins. So, if you thought everyone was getting rich off Bitcoin, think again. A handful of wallets are hoarding the majority. Additionally, total circulating bitcoins exceeded 19.68 million, highlighting the concentration of wealth within a small number of holders. Furthermore, the global cryptocurrency ownership stands at an impressive 6.8%, indicating a growing interest in digital assets among the public. This growing interest is fueled in part by Bitcoin’s reputation as digital gold, which attracts investors seeking a hedge against economic instability.
And don’t even get started on those lost coins—an estimated 3% of Bitcoin is just… gone. Poof! Unrecoverable.
The market itself is a wild rollercoaster, with price fluctuations that could give anyone a heart attack. One day it’s up, the next it’s down. The total market value of all cryptocurrencies hit an impressive $2.3 trillion in 2024, but that’s not exactly a stable foundation.
Meanwhile, over 560 million people worldwide have jumped on the crypto bandwagon. That’s about 6.8% of the global population.
And let’s not ignore the bling factor. There are now more than 172,000 crypto millionaires. That’s a 95% jump! Yet, it’s not all sunshine and rainbows. The number of large holders has decreased—a clear sign that the rich aren’t getting richer, at least not as quickly.
