HomeMarkets overviewCryptocurrenciesBitcoin market cap
Market capitalization uses circulating supply, not the 21 million maximum. CoinMarketCap and CoinGecko show slightly different figures ($1.549tn versus $1.554tn) because each snapshots the price at a slightly different moment; bitcoin trades 24/7, so any single figure is only accurate to the minute it was taken.
Bitcoin's market capitalization is calculated with a simple formula:
Applied to current data:
Published figures for bitcoin's market cap can vary by a few percent between trackers, mainly because of the exact moment each one records the price, and because some tools use slightly different circulating-supply figures.
|
Year |
Circulating supply (BTC) |
Price (31 Dec), $ |
Market cap |
Change |
|---|---|---|---|---|
|
2015 |
15.03m |
430.57 |
$6.5bn |
— |
|
2016 |
16.08m |
963.74 |
$15.5bn |
+138.5% |
|
2017 |
16.77m |
14,156.40 |
$237.5bn |
+1,332.3% |
|
2018 |
17.46m |
3,742.70 |
$65.3bn |
−72.5% |
|
2019 |
18.13m |
7,193.60 |
$130.4bn |
+99.7% |
|
2020 |
18.59m |
29,001.72 |
$539.1bn |
+313.3% |
|
2021 |
18.92m |
46,306.45 |
$875.9bn |
+62.5% |
|
2022 |
19.25m |
16,547.50 |
$318.5bn |
−63.6% |
|
2023 |
19.59m |
42,265.19 |
$827.8bn |
+159.9% |
|
2024 |
19.80m |
93,429.20 |
$1.85tn |
+123.5% |
|
2025 |
19.97m |
87,501.95 |
$1.75tn |
−5.4% |
|
Sept 2026 |
20.08m |
≈77,250 |
≈$1.55tn |
−11.4% |
Source: year-end price and circulating supply from StatMuse market-data queries, cross-checked against CoinMarketCap historical data; an alternative aggregator (CoinLore) shows materially different figures for some years, most likely from a different supply methodology, so treat pre-2020 figures as approximate. Past changes don't indicate future performance.
Circulating supply grew by about a third between 2015 and 2026 (15.03m to 20.08m BTC), while the price rose roughly 180-fold over the same period. New supply is fixed by a schedule that halves the mining reward roughly every four years (most recently in April 2024), so almost all of the market cap growth over this period came from price, not from new coins entering circulation.
|
Bitcoin price |
Market cap (20.08m BTC) |
|---|---|
|
$50,000 |
$1.00tn |
|
$70,000 |
$1.41tn |
|
≈$77,250 (September 2026) |
≈$1.55tn |
|
$100,000 |
$2.01tn |
|
$126,198 (October 2025 record) |
$2.53tn |
Source: calculated at a fixed circulating supply of 20,082,346 BTC (CoinMarketCap, September 2026); the record price is from CoinMarketCap, 6 October 2025. These are arithmetic outcomes, not price projections.
Bitcoin's price is currently about 39% below its October 2025 record, and roughly 11% below where it started 2026. Past price movements don't indicate future performance.
|
Asset |
Market cap |
Relative to bitcoin |
|---|---|---|
|
Global equity markets (S&P 500) |
$69.63tn |
4,490% |
|
Gold |
≈$30.9tn |
1,994% |
|
NVIDIA |
$5.30tn |
342% |
|
Apple |
$4.89tn |
316% |
|
All cryptocurrencies (total market) |
$2.72tn |
176% |
|
Bitcoin |
≈$1.55tn |
100% |
|
Ethereum |
$0.32tn |
20% |
Source: Slickcharts (S&P 500); companiesmarketcap.com (gold, NVIDIA, Apple); CoinGecko Global Charts (total crypto market); CoinMarketCap (bitcoin, Ethereum). All figures September 2026.
Bitcoin currently makes up about 56.8% of the entire cryptocurrency market's value. Gold's market cap is roughly 20 times bitcoin's, and bitcoin is worth about 2.2% of the S&P 500's combined market cap.
‘Bitcoin market cap’ refers to the value of the bitcoin asset itself. It's a different figure from the market cap of companies that hold bitcoin on their balance sheet (such as Strategy, formerly MicroStrategy), the market cap of bitcoin mining companies (such as Marathon Digital or Riot Platforms), or the assets under management of spot bitcoin ETFs, which are all smaller and separate figures.
About $1.55 trillion in September 2026, based on a circulating supply of 20,082,346 BTC at roughly $77,250 per coin.
Bitcoin's price peaked at $126,198.07 on 6 October 2025, giving a market cap of roughly $2.53 trillion. By September 2026 the price had fallen by about 39%, taking the market cap down with it, since circulating supply barely changed over that period. Past price movements don't indicate future performance.
Market cap is bitcoin's own value in dollars. Dominance is bitcoin's share of the entire cryptocurrency market's combined value, currently about 56.8% (CoinGecko). Dominance can rise or fall even when bitcoin's own market cap is unchanged, if other cryptocurrencies grow or shrink faster.
Gold's market cap (≈$30.9tn) is about 20 times bitcoin's; the S&P 500's combined market cap (≈$69.63tn) is about 45 times bitcoin's. Bitcoin's market cap is larger than most individual companies but smaller than the largest ones, such as NVIDIA (≈$5.30tn) and Apple (≈$4.89tn).
Circulating supply (20.08 million BTC) is how many bitcoin have already been mined and are in existence. Maximum supply (21 million BTC) is the hard limit written into bitcoin's protocol, expected to be reached around the year 2140. Market cap normally uses circulating, not maximum, supply.
Around $2.53 trillion, calculated from bitcoin's all-time-high price of $126,198.07 on 6 October 2025 (CoinMarketCap) and the circulating supply at that date.
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