Gold is closing in on a $16 Trillion market cap as it sets a new all-time-high of $2,330 / oz.
Which means each #Bitcoin will be worth well over $750K when BTC flips Gold.
Think that sounds crazy?
Larry Fink doesn't.
He's already been on TV pushing BTC as "digital gold" and a "flight to quality."
And his army of sales people will turn the digital gold meme into reality as they push BTC into every investment portfolio over the coming years.
If gold is at $15.8 Trillion and rising, a $750K #Bitcoin shouldn't surprise you at all.
Both are bearer assets without counter-party risk.
Both are primarily used to store value over a long time period.
- But Gold inflates at ~2% a year while Bitcoin is finite.
- Gold production increases if the gold price spikes. Bitcoin production cannot increase.
- Gold cannot be sent over the internet. Bitcoin can be sent to someone on the other side of the world in an instant.
- Gold needs to be melted down to verify. Bitcoin can be verified by anyone with a computer.
- Gold is impractical to divide. Bitcoin can be easily bought and sold in arbitrary amounts.
Gold only beats Bitcoin if all power / internet go down.
In which case we have more important things to worry about.
Sure gold can potentially be considered a hedge to BTC somehow failing in some unforeseen way...
Which is the only reason I still own some physical gold despite watching it rapidly lose value in BTC terms.
But Bitcoin is an improvement on Gold in the same way that the Internet is an improvement on the telegraph.
It's a step change in humanity's ability to store value long term.
A solution to one of the most important problems facing every productive human: How to protect your hard-earned savings from debasement and ensure your future prosperity.
Overtaking Gold's market cap is ultimately just a stepping stone on Bitcoin's journey.
There are still hundreds of trillions of value stored in the debt of profligate, bankrupt governments and overvalued equities.
Much of that value will inevitably find its way into Bitcoin over the coming years.
You may think $69K #Bitcoin sounds expensive...
But one day we'll look at sub $1 million Bitcoin with nostalgia. It will seem as far away as dial-up Internet and flip phones do to us today.
SOURCE:
https://x.com/stackhodler/status/1776920108293575165
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