Gold’s market capitalization has surged to a staggering $30 trillion as of Thursday, thanks to a price hike to an unprecedented $4,357 per ounce.

This significant milestone indicates that gold’s market is 14.5 times greater than that of Bitcoin, which stands at approximately $2.1 trillion. Moreover, it surpasses the market values of the biggest tech giants, collectively termed the “Magnificent 7”—Nvidia, Microsoft, Apple, Alphabet, Amazon, Meta, and Tesla—which together are worth around $20 trillion.

Unlike traditional companies whose stock market capitalization is derived from outstanding shares, gold’s market capitalization reflects the estimated total value of all mined gold, a figure that remains challenging to ascertain precisely.

Gold’s Price Surge

Since the start of 2023, gold’s price has increased by 64%, as more investors seek refuge in this tangible asset amidst concerns over dollar debasement, geopolitical conflicts, and trade tariffs.

Diverse analysts believe that as the gold market stabilizes, capital might shift towards Bitcoin, often referred to as ‘digital gold.’

“Gold added over $300 billion to its market cap today,” commented crypto analyst Sykodelic on Thursday. “It’s effectively been adding an entire Bitcoin’s market cap each week.”

“I don’t comprehend how most can overlook the fact that once gold halts, BTC will surge,” expressed Joe Consorti, a venture investor.

Analyst Insights

Observer Merlijn the Trader remarked that despite gold’s uptick and the M2 global money supply climbing, Bitcoin’s growth has been sluggish. He suggested that this dissonance won’t endure for long and anticipated a vigorous recovery rally.

Bitcoin (BTC) is currently enjoying a 16% rise from its January levels but remains 14% below its all-time peak.