Bitcoin will replace the Silver Marketcap

[JohnBitCo]

It look like bitcoin is heading to replace the silver marketcap this year. How quickly bitcoin is moving up, no one can't imagine.

[mk4]

In my opinion it really doesn't make that much sense celebrating when bitcoin overtakes marketcaps of certain companies. Silver though? Significantly a bigger deal, and it ain't really that far off from here— we only need approximately 45% increase from here.

On the other hand, bitcoin overtaking gold? Now THAT's a huge huge deal.

[Review Master]

If bitcoin hits $80k with this current bullish rally and than it'll be a matter to time to get closure to silver or even replace the silver marketcap. More likely, it'll done within a few months as more and more institutional investment is going and Elon Musk is doing the PR of Bitcoin as well. So, just wait for the right time to celebrate that milestone.

[Oshosondy]

On the other hand, bitcoin overtaking gold? Now THAT's a huge huge deal.

This is truly a huge deal, but time will tell. Bitcoin has made it through such being most successful asset that is newly developed (just 11 years ago) it is a sign that gold have no option than to be in the second position. This is just a matter of time that may not be more than 2 decades. People will still later prefer more of bitcoin, the reason is the reason institutions are going for bitcoin now, seeing it more deflationary than any other asset which will make it more valuable in the future.

[Jating]

In my opinion it really doesn't make that much sense celebrating when bitcoin overtakes marketcaps of certain companies. Silver though? Significantly a bigger deal, and it ain't really that far off from here— we only need approximately 45% increase from here.

Yeah, I agree, those are just numbers though, so it's no biggie if we see bitcoin overtaking "X company" or "X commodity".

On the other hand, bitcoin overtaking gold? Now THAT's a huge huge deal.

Bitcoin needs to get x10 to overtake gold, so that's a significant amount of capital that needs to flourish to bitcoin market. So it might take years to happen, and I don't know where that huge influx of money will come. Unless the world will go full bitcoin in the next 10-20 years to replace Gold as a store of value and being used by government as hedge.

[cr1776]

Just remember that the price is set at the margin, so it isn't as if 9 trillion dollars needs to come into the market to get to gold's market cap.  For example, if there were only 100 BTC for sale between here (57k) and, say, 600,000.00, it wouldn't take much.  The question is how many coins will be for sale between here and 600k?  Certainly not every coin is for sale.  

If there are 500,000 coins for sale between here and 600k you are talking about at most "only" $300 billion in new investments to get to gold's market cap. (That's if all sold at 600k.)

The people selling now are similar to the ones selling at 1, 10, 30, 1000, 10000 and they'll likely regret it as much later.

Bitcoin will eventually catch silver, it is just a question of when, purely a supply and demand issue.  When you have people buying on the margin, they'll get liquidated on a drop exacerbating the drop.  When you have people shorting it, they'll have to cover on the upswings, reinforcing the upward trajectory. 

With people who aren't prone to panic (one hopes, like Tesla, MSTR etc) the available coins will shrink.  As the market grows, it will become more stable, and things like the Canadian ETF help.  Now the US needs one to give GBTC some competition.

[tinopener]

I've been thinking that the growth of Bitcoin is actually a good thing for other traditional assets, well mostly the stock market.

The stock market is in danger of overheating, and if some money flows into Bitcoin instead, it may prevent it bubbling up too much.

Bitcoin the pressure safety valve. Who knew 

[virasog]

In my opinion it really doesn't make that much sense celebrating when bitcoin overtakes marketcaps of certain companies. Silver though? Significantly a bigger deal, and it ain't really that far off from here— we only need approximately 45% increase from here.

On the other hand, bitcoin overtaking gold? Now THAT's a huge huge deal.

Bitcoin is now 1/10th of the gold marketcap. It is currently at 1 trillion and it needs to raise by 10 times in order to reach 10 T marketcap. This means that roughly the bitcoin price will be 500,000$ at that moment.  I don't see this happening in this market cycle. However, we might be on top of gold, after the next market cycle in 2025.

[matjas]

Bitcoin is now 1/10th of the gold marketcap. It is currently at 1 trillion and it needs to raise by 10 times in order to reach 10 T marketcap. This means that roughly the bitcoin price will be 500,000$ at that moment.  I don't see this happening in this market cycle. However, we might be on top of gold, after the next market cycle in 2025.

By 2025 gold price will go up more and marketcap of top companies will raise too, so i am pretty sure BTC price will have to be higher then 500,000$ in order to overtake gold.

[20kevin20]

This is purely insane! Look how the mcap looked like during the previous ATH bull runs:

- 2014: $11B ($933)
- 2017: $320B ($19,140)
- 2021: $1050B ($55,531)

Sources: 2014, 2017

By the looks of it, we should be getting past the silver mcap easily by 2025. I see it happening, a lot of precious metal investors seem to be moving from them to crypto.. the Bitcoin is the digital gold argument might actually not be in vain

[GeorgeJohn]

From my perspective the movement of bitcoin via increment this year is very astonished and I think it deserved jubilation, saying that bitcoin will replace silver, you're not mistaking because the length people are buying and investing in cryptocurrency in general is highly expensive so marketcap of bitcoin is changing everyday and everytime, but the problem is that we have to know exact price of silver and compare it to existing price of bitcoin before we call for conclusion.

[pixie85]

I always thought silver was too overrated, very well!

I always liked silver jewelry more then gold and silverware is beautiful

Let's not hate on silver. If it gets overtaken by Bitcoin that's great beacuse it will mean Bitcoin will once again prove people like Peter Schiff wrong, but I don't think that it will make holders of gold suddenly dump it all.

People who invest be it stocks gold silver or bitcoin are a special group, usually smarter than the average wage worker and we are all in the same team. More or less

[tinopener]

People who invest be it stocks gold silver or bitcoin are a special group, usually smarter than the average wage worker and we are all in the same team. More or less

As you mention stocks and gold... maybe another part of the value of Bitcoin is just as kind of a neutral vanilla diversifier, that can add value to the entire investment universe. Sort of like Dark Matter.

Max Keiser (Bitcoin pundit on Russia Today) was saying today that Bitcoin was going to take value from gold, the dollar and stocks.

He is probably the original Bitcoin bull, but I don't think there is anything wrong with taking a bit of heat out of the bubbling-over stock market.

[mk4]

People who invest be it stocks gold silver or bitcoin are a special group, usually smarter than the average wage worker and we are all in the same team. More or less

Completely depends. Tell me that 5 years ago and I'll agree a lot more. Today though? Where investing is gamified enough that even people who don't know crap about investing can invest in just a few taps on their phone? While I don't disagree, I definitely have mixed opinions; only somewhat agree.

[Lorence.xD]

From my perspective the movement of bitcoin via increment this year is very astonished and I think it deserved jubilation, saying that bitcoin will replace silver, you're not mistaking because the length people are buying and investing in cryptocurrency in general is highly expensive so marketcap of bitcoin is changing everyday and everytime, but the problem is that we have to know exact price of silver and compare it to existing price of bitcoin before we call for conclusion.

Isn't that the exact price of silver's market cap? Almost everything there AFAIK is an estimate of the whole thing. 400 billion is a lot of money for bitcoin market cap to accumulate which means that there is still a lot of hurdles before we can surpass the silver market cap, not to mention that Google is on the way so we have to surpass this one before doing so with the other.

[OgNasty]

A lot of money is moving from gold to silver right now. I wouldn’t be surprised if the silver market cap rises quite a bit from here. Granted Bitcoin will as well, but it might require Bitcoin to hit 100K if you want to see it surpass silver.

[m2017]

It look like bitcoin is heading to replace the silver marketcap this year. How quickly bitcoin is moving up, no one can't imagine.

The dynamics of bitcoin growth is surprising. Now the 8/10 position seems unimaginable to us, but one day the day will come when bitcoin will take 1st place of that list. Most people now find it hard to believe. But we know here that this is inevitable, don't we?

[oHnK]

Isn't that the exact price of silver's market cap? Almost everything there AFAIK is an estimate of the whole thing. 400 billion is a lot of money for bitcoin market cap to accumulate which means that there is still a lot of hurdles before we can surpass the silver market cap, not to mention that Google is on the way so we have to surpass this one before doing so with the other.

It is too early for me to say Bitcoin surpasses silver.  Because silver has been around for a long time and is considered a valuable commodity.  Right now Bitcoin is still hype because big companies are starting to invest but if they suddenly back down on Crypto investing, I'm sure Crypto will collapse in lightning fast.

[XZERO1]

Looking at silver chart Silver seems really strong, and even though it mostly follows Gold chart, Wouldn't surprise me if it starts having 0.5%-1% upward movements on its own uncorrelated with Gold, Gold is getting too expensive and what I'm seeing is that people are looking for the next(future) Gold in terms of price movements and they're mostly going for Silver considering how cheap it still is comparing to other valuable metals such as gold and palladium.


Comparison between Gold and Silver chart on daily:

                   

[bryant.coleman]

Gold is the no.1 target, and not silver. The case with silver is a bit complicated, because silver is widely used for various purposes in industry, and not just for investment. Silver is used in solar panels, conductors, water filtering.etc. So it is quite difficult to get the amount of silver, that is being held as bullion. Gold also has industrial usage, but that represents less than 0.1% of its annual mine production.