ColdFusion - How BIG is Bitcoin? (6th Largest Currency)

Episode Date: April 17, 2026

Subscribe here: https://goo.gl/9FS8uF Become a Patron!: https://www.patreon.com/ColdFusion_TV CF Bitcoin address: 13SjyCXPB9o3iN4LitYQ2wYKeqYTShPub8 In this video we talk about the size and some other interesting facts about the phenomenon that is bitcoin. Hi, welcome to ColdFusion (formerly known as ColdfusTion). Experience the cutting edge of the world around us in a fun relaxed atmosphere. Sources: *Coming soon* //Soundtrack// Sonic Future - Remember That nExow & SEAWAVES – Firework Dakent - Noon (Mindthings Rework) Sinoptik Music - Don't Leave Me A Zed And Two L's - Fila Brazillia Deccies – Subtle MJ Cole - Sincere - Original (2000) » Google + | http://www.google.com/+coldfustion » Facebook | https://www.facebook.com/ColdFusionTV » My music | http://burnwater.bandcamp.com or » http://www.soundcloud.com/burnwater » https://www.patreon.com/ColdFusion_TV » Collection of music used in videos: https://www.youtube.com/watch?v=YOrJJKW31OA Producer: Dagogo Altraide » Twitter | @ColdFusion_TV ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Learn more about your ad choices. Visit megaphone.fm/adchoices

You are watching Cold Fusion TV. Hi, welcome to another Cold Fusion video. So Bitcoin, huh? The significance of Bitcoin and what it represents is different depending on who you ask. Some see it as a currency, others see it as an asset class to invest in, and others still view it as a wealth transfer from the old monetary system to the new monetary system. Legally, it's not even clear to regulators what Bitcoin should be classed as. Despite this, there's been a huge mania around the cryptographic currency,

recently. So what is it? Roughly speaking, Bitcoin is a new form of secure currency that doesn't need a bank, government agency or any middleman to operate. The people within the system just carry out transactions among themselves in what's called a decentralized network or blockchain. If you want to know more about the inner workings of Bitcoin, I have a finance playlist where I talk to some experts in their respective fields. In the video titled, Bitcoin versus normal currency, things are about to change. I talked about how Bitcoin and other cryptocurrencies work and how they're a reaction to the mismanagement of central banking and the debt-based economic system.

I recommend watching those for some background knowledge before continuing with this video. Also a shout out to those who messaged me saying they watched those videos and have made a small fortune since. I enjoyed hearing your stories. Today is just going to be a fun little video about the size and rapid growth of Bitcoin, one of the fastest growing assets in all of history. Firstly, how many Bitcoins are there? There will only ever be 21 million Bitcoins in existence.

Currently, 16 million of those 21 million coins have been given out into circulation. When Bitcoin's market crossed $100 billion in October of 2017, it had a market value larger than Goldman Sachs, Morgan Stanley, B.HP, and Netflix. Bitcoin's market cap today is over $300 billion at the time of writing and it's currently around $17,000 a coin. There's no way of knowing where it's going to be by the time you watch this, but we'll We'll just go with those numbers for now. Here's a chart from MarketWatch putting Bitcoin into perspective.

Right now it's about 40% the size of Apple and 72% the size of Amazon. But Bitcoin doesn't compare to gold at only about 3% of that asset, or the value of the total US dollars in circulation. Bitcoin's current market cap is bigger than the GDP of Ireland and Pakistan, and the energy consumption to mine Bitcoins globally is more than all of these countries. takes a staggering 14,000 kilowatt hours to mine one Bitcoin. Since its start in 2009, Bitcoin is the sixth most circulated currency in the world. It's estimated that about 14 million people around the world hold Bitcoin. There are 13 million users on Coinbase, the biggest Bitcoin exchange,

and they've tripled their users since the start of the year. In fact, at some points during December, Coinbase was signing up 200,000 people per day. The Winkle Vost, twins, yes, the very same ones who claim that Mark Zuckerberg stole their idea for Facebook, are now the first Bitcoin billionaires. They bought $11 million of coins in 2013 at around $260 per coin. In December of 2017, Bitcoin was launched in the futures market, bursting it straight into the mainstream financial world. The cryptocurrency started trading futures last night. On the CBOE, it has been a wild ride, opening with a thousand dollar spike, 1,000 contracts trading hands in the first hours.

I think banking institutions are going to take advantage of this. They're going to try and smash Bitcoin in their favor. I really wouldn't be surprised if they get on the phone with their buddies, push up the price, and then when they're getting ready to dump, they'll let their friends know and make bets ahead of time to make a huge profit. This is obviously just my opinion and just a hunch, but I think it's quite likely. Central banks are also taking note. The Federal Reserve just did a paper about Bitcoin and the blockchain,

and they're researching into their own closed version. The Reserve Bank of Australia is also talking about their own form of cryptographic currency. So is Bitcoin a bubble? I personally think most probably. To see why, it's worth looking at how the Bitcoin user base has changed over time. The early adopters came in four categories. The first group were just geeks. They thought the idea of using a computer to generate currency was a neat idea.

Back in 2010, a home computer could make a decent amount of Bitcoin at five cents a coin. The second group were a narco-capitalists, usually anti-government. These guys loved the idea of decentralized and pseudo-anonymous currency that was completely outside the debt-based central banking system. Another group were criminals. These guys also like the anonymous nature and would spend Bitcoin on sites like Silk Road to obtain illegal items like firearms and drugs.

The final group were libertarians who appreciated the idea of a limited amount of Bitcoin as opposed to the central banking method which could print as much money as they liked when they felt like it. The libertarians didn't like central banks and looked at all fiat currency with a sense of suspicion. These four groups were enough to get the bowl rolling on Bitcoin and in those early years, the price was more or less stable.

As time went on, the price gradually began to increase for various reasons, and people and the news media began to take notice. And that brings us to today, where a lot of the mainstream adopters don't really understand what Bitcoin is all about, Usually it goes that they've heard about it on the news and they just hear about people making money and see the price going up and they want in on the action. People are seeing this growth and it's just, it's changing everything. It's a natural human instinct, but it also can be classified as speculation. And massive amounts of speculation are one of the hallmarks of a bubble.

But on the other hand, Bitcoin is a little different. Currently, Bitcoin is less than 0.1% the value invested in all other major assets. This technically means that there's a lot of. lot of room to grow. It's also easier to get into Bitcoin than stock trading, so this bubble could go for longer than most people might expect. I ultimately think that Bitcoin's not going to be the cryptocurrency to lead them all. Another cryptocurrency is going to come along that has a better technical performance that will probably knock Bitcoin off its throne in the years to come. But anyway, that's just me thinking out loud, and I think this whole thing is very interesting.

Another worry is the deflationary spending problem. Because the price of Bitcoin keeps rising, people are going to hoard it and treat it like a form of digital gold instead of currency. This will cripple the means of exchange aspect of Bitcoin until the price stabilises. All in all, it's pretty insane how one coin was just five cents in 2011, and that became worth $800 at the beginning of 2017 and $17,000 near the end of 2017. It is pretty remarkable. So anyway, that's it. So that's a bit about the size of Bitcoin and some other interesting aspects about it.

I hope you learned something from this video. So thanks for watching. This has been Dago, you've been watching Cold Fusion. Feel free to subscribe to this channel if you've just stumbled across it. And I'll see you again soon for the next video. Cheers guys, have a good one.