M2 Money Supply
How much money is there, and is it growing?
Cash and money in bank accounts that people can spend quickly, in the US and the euro area.
How much money there is in the US
The money in US cash, bank accounts and savers’ money market funds each month, as counted by the Federal Reserve. Bitcoin’s monthly average price is the white line, with its prices on the far right. Each line has its own scale, so the chart shows when each rose or fell, not by how much.
The numbers on this page, recorded by Maketo, with the coverage written at the top of the file. One download a day with a Maketo account.
How fast money is growing, US and euro area
How much the amount of money changed from the same month a year earlier. A falling line above zero still means more money, only growing more slowly. Below zero, it shrank. Bitcoin’s monthly average price is the white line, with its prices on the far right.
The numbers on this page, recorded by Maketo, with the coverage written at the top of the file. One download a day with a Maketo account.
Right now
The US has $23.4 trillion in cash, bank accounts and money market funds, 5.7% more than a year earlier.
All figures for Sep 2026.
Euro area money growth
Up 3.3% in a year
This is a measure of the wider economy. It does not say where Bitcoin will move.
Understanding
M2 Money Supply
The US has $23.4 trillion in cash, bank accounts and money market funds, 5.7% more than a year earlier as of .
Money in the euro area is 3.3% higher than a year earlier as of .
What is M2?
M2 counts the money people and businesses can spend quickly or get at within days: cash, checking and savings accounts and short fixed-term deposits, plus, in the US, money market funds held by ordinary savers. It is one of the most widely quoted measures of how much money there is in an economy. The euro area is the group of European countries that use the euro.
Why do people look at it next to Bitcoin?
When the amount of money grows quickly, each dollar can end up buying less, and some people move into things that cannot be printed, like gold or Bitcoin. That is why charts of M2 and Bitcoin are often shown together. The link is loose, and plenty of other things move Bitcoin’s price.
How is it worked out?
The US figure is the Federal Reserve’s monthly total in dollars, and its yearly growth compares each month with the same month a year earlier. The euro area figure is the European Central Bank’s published yearly growth rate. The two regions define M2 a little differently: the US counts money market funds held by ordinary savers, and the euro area counts deposits fixed for up to two years. So the two are shown side by side rather than added together.
What does it not tell you?
It counts how much money there is, not where it goes. It does not show whether new money ends up in shops, homes, shares or Bitcoin, and it does not say where Bitcoin will move.
Keep exploring
Source: Maketo, ECB statistics, Federal Reserve Board.