Bitcoin's market capitalization is nearly 7% that of gold, according to one estimate
January 8, 2021, 10:34AM EST
1 min read
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.