Bitcoin reaches 10% of gold’s market cap, according to one estimate

Feb 21, 2021 | The Block News | 0 comments

bitcoin-reaches-10%-of-gold’s-market-cap,-according-to-one-estimate

Estimates place the total market capitalization of all mined gold between $10 trillion and $11 trillion. 

By the estimate tracked by The Block Research, drawing from Gold.com’s GoldHub, bitcoin’s market capitalization is now just over 10% that of gold’s, as shown in the chart below:

The heightened figure comes after bitcoin’s market cap exceeded $1 trillion for the first time last week. The cryptocurrency’s price advances have seen its value shoot above $57,000, bringing the total market capitalization to roughly $1.1 trillion, according to Coinbase data. 

© 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.

News Source from TheBlockCrypto.com

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