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Scraped on 19/08/2025, 15:55:04 UTC
I think this is still an interesting fact, although we would have to compare the circulation velocity too.
The velocity of money in the US is currently 1.4 (quarterly GDP / M2 stock).
According to this chart. the value sent in BTC per day is worth about 25 billion USD. As a quarter is 91,25 days, this means the "quarterly GDP" in the case of Bitcoin is around 2.3 trillion USD. It's interesting that this doesn't seem that far away from the USD velocity value: today's market cap of BTC is 2,2 trillion, so it's around 1.
I guess however that the Bitinfocharts value includes coins sent back to the user's wallet as change, so the value maybe may be closer to 0.5, but nevertheless I had expected much less.
Free Market Capitalist is of course correct that currently the usage patterns are different from fiat. But if the trend of decreasing volatility continues, we could reach a tipping point where it will be again used more as a currency. And then the comparison would make more sense again.
This could happen very naturally: if more and more people held a portion of their wealth in BTC, then at least if they're facing bigger purchases, it's not a bad idea to spend directly and not selling at an exchange, evading the exchange fees. This depends of course also on fees to transact on 2nd layers to make the purchase (if on-chain is too expensive) and the evolution of exchange fees (while I think trading fees will remain stable, deposit/withdrawal fees could be higher in the future due to the consolidation work necessary for the exchanges).
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Source
The velocity of money in the US is currently 1.4 (quarterly GDP / M2 stock).
According to this chart. the value sent in BTC per day is worth about 25 billion USD. As a quarter is 91,25 days, this means the "quarterly GDP" in the case of Bitcoin is around 2.3 trillion USD. It's interesting that this doesn't seem that far away from the USD velocity value: today's market cap of BTC is 2,2 trillion, so it's around 1.
I guess however that the Bitinfocharts value includes coins sent back to the user's wallet as change, so the value maybe may be closer to 0.5, but nevertheless I had expected much less.
Free Market Capitalist is of course correct that currently the usage patterns are different from fiat. But if the trend of decreasing volatility continues, we could reach a tipping point where it will be again used more as a currency. And then the comparison would make more sense again.
This could happen very naturally: if more and more people held a portion of their wealth in BTC, then at least if they're facing bigger purchases, it's not a bad idea to spend directly and not selling at an exchange, evading the exchange fees. This depends of course also on fees to transact on 2nd layers to make the purchase (if on-chain is too expensive) and the evolution of exchange fees (while I think trading fees will remain stable, deposit/withdrawal fees could be higher in the future due to the consolidation work necessary for the exchanges).
And if you look at the daily transactions, this year compared to last year, there’s actually been a huge decline.
While that is not completely incorrect, the transaction number alone is misleading due to the impact of Ordinals in 2023/24 which artificially boosted the transaction volume. See here how the variable "Bitcoin sent in USD" evolved:Source
Original archived Re: Bitcoin now constitutes about 1.7% of money in the world today .
Scraped on 19/08/2025, 15:50:25 UTC
I think this is still an interesting fact, although we would have to compare the circulation velocity too.
The velocity of money in the US is currently 1.4 (quarterly GDP / M2 stock).
According to this chart. the value sent in BTC per day is worth about 25 billion USD. As a quarter is 91,25 days, this means the "quarterly GDP" in the case of Bitcoin is around 2.3 trillion USD. It's interesting that this doesn't seem that far away from the USD velocity value: today's market cap of BTC is 2,2 trillion, so it's around 1.
I guess however that the Bitinfocharts value includes coins sent back to the user's wallet as change, so the value maybe may be closer to 0.5, but nevertheless I had expected much less.
Free Market Capitalist is of course correct that currently the usage patterns are different from fiat. But if the trend of decreasing volatility continues, we could reach a tipping point where it will be again used more as a currency. And then the comparison would make more sense again.
This could happen very naturally: if more and more people held a portion of their wealth in BTC, then at least if they're facing bigger purchases, it's not a bad idea to spend directly and not selling at an exchange, evading the exchange fees. This depends of course also on fees to transact on 2nd layers to make the purchase (if on-chain is too expensive) and the evolution of exchange fees (while I think trading fees will remain stable, deposit/withdrawal fees could be higher in the future due to the consolidation work necessary for the exchanges).
Source
The velocity of money in the US is currently 1.4 (quarterly GDP / M2 stock).
According to this chart. the value sent in BTC per day is worth about 25 billion USD. As a quarter is 91,25 days, this means the "quarterly GDP" in the case of Bitcoin is around 2.3 trillion USD. It's interesting that this doesn't seem that far away from the USD velocity value: today's market cap of BTC is 2,2 trillion, so it's around 1.
I guess however that the Bitinfocharts value includes coins sent back to the user's wallet as change, so the value maybe may be closer to 0.5, but nevertheless I had expected much less.
Free Market Capitalist is of course correct that currently the usage patterns are different from fiat. But if the trend of decreasing volatility continues, we could reach a tipping point where it will be again used more as a currency. And then the comparison would make more sense again.
This could happen very naturally: if more and more people held a portion of their wealth in BTC, then at least if they're facing bigger purchases, it's not a bad idea to spend directly and not selling at an exchange, evading the exchange fees. This depends of course also on fees to transact on 2nd layers to make the purchase (if on-chain is too expensive) and the evolution of exchange fees (while I think trading fees will remain stable, deposit/withdrawal fees could be higher in the future due to the consolidation work necessary for the exchanges).
And if you look at the daily transactions, this year compared to last year, there’s actually been a huge decline.
While that is not completely incorrect, the transaction number alone is misleading due to the impact of Ordinals in 2023/24 which artificially boosted the transaction volume. See here how the variable "Bitcoin sent in USD" evolved:Source