Gold market capitalization reached a record $30 trillion on Thursday as the commodity advanced to a new all-time high of $4,357 per ounce.
The milestone market cap peak means that gold is now 14.5 times larger than Bitcoin’s market capitalization, which is around $2.1 trillion.
It’s also 1.5 times bigger than the market capitalization of the “amazing 7” biggest tech companies on the planet, NvidiaMicrosoft, Apple, Alphabet, Amazon, Meta, and Tesla, whose combined market capitalization is just around $20 trillion.
Unlike a company’s stock market cap, which is based on shares outstanding, gold’s market cap is a calculation of the total value of all gold ever mined; However, it is impossible to know the exact amount.
Gold rocketed this year, Bitcoin could benefit
The price of gold has advanced 64% since January 1 as investors flock to store the asset’s value in the middle Dollar Debasementgeopolitical tensions, and trade tariffs.
Many analysts believe me That capital will be turned into Bitcoin, often referred to as digital gold, when the gold market cools.
Related: Bitcoin-gold correlation rising as BTC follows gold’s path to store of value
“Gold added more than $300 billion to market cap today,” said Crypto analyst Sykodelic on Thursday. “This adds a full Bitcoin market cap in a week,” he continued.
“I don’t understand how most people don’t see that once gold stalls, BTC will rip.”
“If bitcoin can loosen its relationship with US equities (in the midst of) the tense geopolitical backdrop, especially if gold flows, maybe this is the trade after the trade,” said Venture Investor Joe Consorti.
Meanwhile, analyst ‘Merlijn the entrepreneur’ noticed With the M2 Global Money Supply collapsing, gold is gold, but Bitcoin is sleeping.
“This divergence never lasts, liquidity always finds risk, (and) the catch-up rally will be brutal,” he said.
Bitcoin (BTC) is currently up 16% from its January 1 levels, which is nearly 14% from its all-time high.
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