Total Market Cap | Bitcoin Market Cap | Bitcoin Dominance |
---|---|---|
$?2.17T (-2.12%) | $?1.22T (-2.31%) | 56% |
The Bitcoin market cap is a way of measuring the value of all BTC coins in circulation. The market cap of Bitcoin is currently $?1.22T following a
Events that shaped the Bitcoin market cap
The BTC market cap has seen big fluctuations over time. For example, the market cap of Bitcoin was lower than $1 billion at certain points in 2013, and surpassed $1 trillion less than a decade later, in February 2021.
There have been a number of important events throughout the history of Bitcoin that have influenced the BTC price, and consequently the BTC market cap. Let's take a look at some of the most notable events that have shaped the Bitcoin market cap.
- November 28, 2012: First Bitcoin halving
- February 7, 2014: Mt. Gox, the biggest Bitcoin exchange at the time, files for bankruptcy
- June 17, 2016: The DAO gets hacked
- July 9, 2016: Second Bitcoin halving
- August 1, 2017: Bitcoin Cash hard fork
- May 11, 2020: Third Bitcoin halving
- October 21, 2020: PayPal announces it will offer crypto to its customers
- February 8, 2021: Tesla invests in Bitcoin
- September 7, 2021: El Salvador makes Bitcoin legal tender
- November 8, 2022: Major crypto exchange FTX files for bankruptcy
Some of these events had an immediate impact on the price of Bitcoin, while others influenced the BTC coin price in more indirect ways. As we can see on the total crypto market cap chart, the rest of the cryptocurrency market usually displays a similar trend as Bitcoin.
Bitcoin market cap comparison with world’s assets
To get a better perspective on how the size of the Bitcoin market compares with other asset classes, we provide a chart comparing the Bitcoin market cap with the market capitalizations of the stock market, gold, as well as the amount of fiat currency in circulation.
Market Cap of Bitcoin compared to gold, stocks, and US dollar supply
The Bitcoin market cap is currently $?1.22T. The estimated market cap of gold is $?12.28T and the market capitalization of the U.S. stock market is $?40.51T Meanwhile, the US dollar market cap is estimated at $?23.37T.
However, it's worth keeping in mind that different asset classes are fundamentally different in terms of liquidity and other important factors, so direct market cap comparisons should be taken with a grain of salt.
Historical Bitcoin market cap since 2013
The market cap of BTC has seen dramatic shifts as the Bitcoin price went through its bullish and bearish cycles. In the table below, you can see historical Bitcoin market cap data for the last day of every year since 2013.
Year | Market Cap | Yearly Change |
---|---|---|
2013 | $?10.32B | - |
2014 | $?5.42B | |
2015 | $?6.99B | |
2016 | $?17.18B | |
2017 | $?538.32B | |
2019 | $?192.22B | |
2020 | $?749.20B | |
2021 | $?2.26T | |
2022 | $?811.50B | |
2023 | $?1.66T |
Bitcoin vs. Ethereum market cap
While Bitcoin has been the biggest crypto by market cap ever since its release, it’s certainly not impossible that some other cryptocurrency could surpass it in the future. The most likely candidate to surpass Bitcoin’s market cap is Ethereum.
Currently, Bitcoin has a market cap of $?1.22T and a 56.38% share of the total cryptocurrency market cap. Meanwhile, the Ethereum market cap is $?310.45B, which translates to a 14.30% share of the total crypto market cap. In order for Ethereum to reach the same market cap as Bitcoin, the ETH price would have to be $?10,187.