Hi! Regarding the Bitcoin Value in Context visual: can you share your assumptions behind the analysis (particularly gold market cap value and number of BTC)? Most BTC price estimates I've seen showing BTC reaching gold market cap are in the $400K-$500K range.
Hey there. The high estimate of physical gold above ground is 6.1 billion ounces. With gold around $1,900 per ounce and 18.5 million BTC in circulation that gives you something north of $600k. The range for physical gold above ground is pretty wide so you end up with a pretty wide range of possibilities for the price at which BTC would flip gold.
Hi! Regarding the Bitcoin Value in Context visual: can you share your assumptions behind the analysis (particularly gold market cap value and number of BTC)? Most BTC price estimates I've seen showing BTC reaching gold market cap are in the $400K-$500K range.
Hey there. The high estimate of physical gold above ground is 6.1 billion ounces. With gold around $1,900 per ounce and 18.5 million BTC in circulation that gives you something north of $600k. The range for physical gold above ground is pretty wide so you end up with a pretty wide range of possibilities for the price at which BTC would flip gold.