The market value of gold reached a record $30 trillion on Thursday, as the commodity soared to a historic high of $4,357 per ounce.
This milestone market cap means that gold is now 14.5 times larger than the market cap of Bitcoin, which is approximately $2.1 trillion.
It is also 1.5 times larger than the combined market cap of the world's seven largest tech companies—the "Big Seven"—which include Nvidia, Microsoft, Apple, Alphabet, Amazon, Meta, and Tesla, with a total market cap of about $20 trillion.
Unlike the market cap of companies calculated based on outstanding shares, the market cap of gold is a calculation of the total value of all mined gold; however, the exact amount is unknown.
Since January 1, the price of gold has surged by 64% as investors flock to this store of value amid concerns over dollar depreciation, geopolitical tensions, and trade tariffs.
Many analysts believe that as the gold market cools, capital will rotate into Bitcoin, which is often referred to as digital gold.
"Gold's market cap increased by over $300 billion today," cryptocurrency analyst Sykodelic said on Thursday. "It added the entire market cap of Bitcoin in just one week."
"If Bitcoin can decouple from U.S. stocks amid tense geopolitical conditions, especially if the inflow into gold slows, that might be the next trade," venture capitalist Joe Consorti said.
Meanwhile, analyst "Merlijn the Trader" noted that the global M2 money supply is soaring, gold is skyrocketing, but Bitcoin is sleeping.
"This divergence never lasts, liquidity always seeks risk, and the catch-up rally will be brutal," he said.
Bitcoin is currently up 16% from its January 1 level, about 14% away from its all-time high.
Related: Bitcoin (BTC) fear index hits a new low for the year, but Bitwise says: Now is the time to accumulate, not panic.
Original article: “Gold Market Cap Soars to $30 Trillion, Dwarfs Bitcoin and Tech Giants”
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