Bitcoin Market cap, the total value of all bitcoin, is currently 145 billion USD.
For many people this seems like a lot and at thousands of dollars per coin, it feels like a lot. The numbers just seem silly high, but what is it in reality. People can feel like bitcoin is all about the number, trading and mad gains, but actually many would argue it's not at all.
"Chancellor on the brink of second bank bailout" is written permanently on the first bitcoin transaction. This is a political statement, a social solution, that is a main component of what bitcoin is about.
It is fitting then to use this the bank bail outs as a measure to put perspective to the bitcoin price. The bank bail outs of the financial crisis were for many more dollars than the bitcoin market cap even now. Wikipeadia calculate that all bitcoin is worth less than a quarter of what the bailouts cost.
"The maximum cost of a $700 billion bailout would be $2,295 estimated cost per American (based on an estimate of 305 million Americans), or $4,635 per working American (based on an estimate of 151 million in the work force)."
This is quite a lot per person and most people didn't see a cent of that money. They would have preferred it in their pockets, QE for the people as we say.
Now with the current REPO market issue, the bailouts are happening again, just through a different channel. The Fed have printed 400 billion over the last 4 months. This is more than double the bitcoin market cap, but did you feel it? Did you notice a boost in your back pocket? Likely not. Its more likely you know someone who is feeling plush from there bitcoin savings plan over the last 5 years. They are more likely to help you out to.
In the numbers we can see how this new "money" from bitcoin is making a real difference to real peoples lives.
