Bitcoin’s market capitalization is nearly 7% that of gold, according to one estimate


Bitcoin’s price jump has inched its market capitalization closer to that of gold — some 6.8% as of January 8, according to data collected by The Block Research.

To be sure, the best-guess market cap of all mined gold — an estimated $10.6 trillion, per Gold.org (GoldHub) — dwarfs the market capitalization of bitcoin, which as of press time sits just below $708 billion.

Here’s a screenshot from the interactive chart above:

To be sure, the estimate for gold’s collective market cap is just that, with some variance between metrics. But GoldHub’s figures offer a window into that collective value — albeit one that isn’t as straightforward to calculate as the market cap for bitcoin.

© 2021 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.



Source link