Bitcoin is worth more than Silver

[seoincorporation]

I think this is a crazy achievement for Bitcoin, with a total market cap of 1.42T vs the silver market cap of $1.38T right now Bitcoin is worth more than Silver.

And is crazy to think, How a virtual asset can be worth more than a precious metal? It's crazy times that we are living in, and money and value are just losing sense. Markets decide what should worth a lot and what should crash.

Source: https://8marketcap.com/

[Dunamisx]

I think this is a crazy achievement for Bitcoin, with a total market cap of 1.42T vs the silver market cap of $1.38T right now Bitcoin is worth more than Silver.

People have already been calling bitcoin a digital gold and now when we see this turning a reality shouldn't be a surprise, since it has achieved more than what many other currencies or asset could do over years in just not more than 13years, we should expect more with bitcoin because it turning a revolutionary mainstream digital currency, those that have already adopted will never be ungrateful about this.

[Faisal2202]

It's just adoption that has made unbelievable things believable. Traditional people at first, thought of BTC as a scam, but now as it has got so much adoption mainly due to the ETF approval, those have also started to invest in it. ETFs have streamlined the way for old and traditional people to invest in BTC indirectly. I was having a conversation with my cousin who had no idea, he asked how BTC is getting value, and I told him the main factor is demand and supply, and what is keeping its value up this whole time is more adoption and scarcity. But I was amazed to see his POV, which is he said, (we) used to say there is gold behind currency, he said to me, our government tells lie there is no gold.

Hahaha, this seems absurd but who knows, talking about silver a physical asset that we can touch that we can burn, but here BTC we can't touch it, but still it has crossed silver's M.Cap. If people had not have adopted it then it wouldn't have been possible for BTC to cross silver. Adoption is what makes this possible. A time will come when BTC will cross Gold's M.cap also. BTW, AFAIK BTC has crossed the silver market cap for a long time. I saw this news like 1 month ago maybe.

[MFahad]

It's an achievement and a milestone, undoubtedly, however, what's more important is whether it will be able to keep that lead for very long because Bitcoin is a highly volatile asset, it gains value over time but it loses value as well later on. If it's market capital is worth more than silver's today when it's priced above $70k, it will be lower again once it drops back to $50k or even $60k, that is the biggest thing that matters in my opinion.

We should also not ignore the fact that Bitcoin is more scarce than Silver or even Gold, the supply of Gold and Silver is way higher than Bitcoin, which makes Bitcoin gain more value than them based on the demand if it keeps increasing and this is what made Bitcoin achieve this.

[Promocodeudo]

It's an achievement and a milestone, undoubtedly, however, what's more important is whether it will be able to keep that lead for very long because Bitcoin is a highly volatile asset, it gains value over time but it loses value as well later on. If it's market capital is worth more than silver's today when it's priced above $70k, it will be lower again once it drops back to $50k or even $60k, that is the biggest thing that matters in my opinion.

We should also not ignore the fact that Bitcoin is more scarce than Silver or even Gold, the supply of Gold and Silver is way higher than Bitcoin, which makes Bitcoin gain more value than them based on the demand if it keeps increasing and this is what made Bitcoin achieve this.

You are making a lot of sense, the scarcity of a commodity makes such commodity very valuable, sometimes I also thought of something, I feel that the limitation in the supply of Bitcoin is the reason for its price increase over time and dominance in the crypto market., volatility has help bitcoin to remain relevant as long as crypto currency market is concern.
The bitcoin market is a seasonal market and every season has what it brings to the market that's why every knowledgeable bitcoiner will always tell you that you shouldn't be discouraged because of the volatility of this digital asset, the major concern of every potential investor should be targeted at his long term journey.

[Marvelman]

I guess this just shows the power of the internet and crypto - Bitcoin keeps reaching new highs, while old-school assets like silver struggle to keep up.  At this rate, it won't be long before Bitcoin sets its sights on bigger targets like Alphabet (Google).  Its market cap is around $1.79 trillion now.

[Ojima-ojo]

Bitcoin os the internet money, and there is no competition to that, unlike silver that have several competitors and is ranked even below most of its competitors like Gold, diamonds and other precious metals.

Silver may have exist for a long time now, and the market stability may have been build over the years, but still cant match up with bitcoin which is just a decade-plus old because of bitcoin peculiar nature and functions.

[KingsDen]

I think this is a crazy achievement for Bitcoin, with a total market cap of 1.42T vs the silver market cap of $1.38T right now Bitcoin is worth more than Silver.

And is crazy to think, How a virtual asset can be worth more than a precious metal? It's crazy times that we are living in, and money and value are just losing sense. Markets decide what should worth a lot and what should crash.

Source: https://8marketcap.com/

Bitcoin is just set to beat so many records and surprise many people. Although, bitcoin has long been referred by many people as a digital gold and it is time it will begin to manifest. The market capitalisation of bitcoin is high and surprising that bitcoin achieved this while only being available for barely a decade. This means that before bitcoin will be 30yrs old, it will worth more than gold and it will be more scarce than as expected.

This generation, it has been easy and easiest generation to be a millionaire. Bitcoin is doing it's part and I believe bitcoin has quite more to offer us.

[Natalim]

There is always a surprise for Bitcoin which is why investing in Bitcoin is more worthwhile than any digital asset in the market as it has proven so many times. The majority has been in doubt before but now, most of us are on the watch for it. Bitcoin is a changing game of life as people are buying more Gold and Silver than before but now, people are selling Gold and Silver for Bitcoin. That is how it changes the view of the community and the courage to invest. We can't deny the fact that Bitcoin is heading to a better future, the more people appreciate it, the more it grows and spreads. 10 years from now, maybe we are seeing its value double from the current price.

[Assface16678]

Bitcoin proves that a digital currency or crypto currency can become as powerful as a fiat currency or those minimal assets such as gold, silver, etc. But bitcoin will never be powerful or achieve where it is now without us, investors, holders, and anyone who believes in bitcoin. We should thank ourselves because we are one of the reasons why bitcoin is being high right now and reaching another record or ATH. Without us, there is no bitcoin, and without bitcoin, there's no us that has a great opportunity thanks to bitcoin.

No matter how high or powerful bitcoin is, we know that it still can't surpass other currencies, but at least it is considered one of the most profitable currencies and surely will attract more investors, which could expand the influence of crypto currency. That's why I stop trading gold or silver assets, as the risk there is too great, and I also think it is not worth the risk.

[Churchillvv]

I think this is a crazy achievement for Bitcoin, with a total market cap of 1.42T vs the silver market cap of $1.38T right now Bitcoin is worth more than Silver.

And is crazy to think, How a virtual asset can be worth more than a precious metal? It's crazy times that we are living in, and money and value are just losing sense. Markets decide what should worth a lot and what should crash.

Source: https://8marketcap.com/

The crazy move of Bitcoin is one reason I don't just Bitcoin as a cryptocurrency. I see Bitcoin as a paradigm shift, that is here to change the perspective of people. Obviously it has done it with a few years, surpassing silver market cap.

Based on my perspective of Bitcoin I have a speculation that Bitcoin or cryptocurrencies at large will be more valued than physical assets, perhaps Bitcoin is making a solid move even with it's flaws that has kept some countries away from it. This is revolution, life bring forth a new way of living. Bitcoin is the shift in thinking (paradigm) that our generation has witnessed.

[hatshepsut93]

Objectively speaking, silver has way more utility than Bitcoin as it is used in many industries and if not for silver, a lot of things would be more expensive today. Meanwhile if all coins vanished tomorrow, the world wouldn't even notice and wouldn't feel any inconvenience. So this is just another reminder that marketcap if not a good representation of usefulness and value for society.

[nelson4lov]

Bitcoin is coming for that top spot. Just needs to do another 10x here to surpass Gold and become the #1 asset in the world. While it does seem far fetched, when you consider the amount of volume and liquidity going into these ETFs in recent days, I'm sure you'd have a different perspective on the matter. I have looked at the numbers and data of the last 6 months and it's mind blowing to say the least.

This is not saying the road will not bumpy. It would be, but it's important to keep in mind that Bitcoin is currently in uncharted waters (no known resistance) and enough liquidity is being pumped into the market. What a time to be alive!

[thecodebear]

Silver defeated, and Bitcoin has barely started!


Think about this. Silver is a respected precious metal with a very long history being used by humanity.
While Bitcoin is 15 years old and the vast majority of people either dont have a clue about Bitcoin or they actually think it is some really bad thing haha.

And Bitcoin has already eclipsed Silver's value.

Won't be too many years until we're talking about Bitcoin's market cap in multiples of silver: 5x Silver, 10x Silver, etc


Gold is still very far off, probably a couple decades, but there is zero doubt Bitcoin will eventually eclipse it as well, and grow far larger than Gold.

[pinggoki]

But it was already worth that more than silver back then right? In it's previous all time high but definitely it's a good thing that it's more valuable than any precious metals out there, it's a really good thing that this kind of thing happens though, gives the investors confidence that bitcoin is going to be going big even more and I think that gold is going to be the next one that's needed to surpass. If you're reading this and you're still doubting that bitcoin will go anywhere, you're probably going to get left behind again and again and it's going to be a vicious cycle for you.

Objectively speaking, silver has way more utility than Bitcoin as it is used in many industries and if not for silver, a lot of things would be more expensive today. Meanwhile if all coins vanished tomorrow, the world wouldn't even notice and wouldn't feel any inconvenience. So this is just another reminder that marketcap if not a good representation of usefulness and value for society.

Well, yes that's true but the point is that people are valuing bitcoin even more than others, I think that utility alone is the reason that someone should be valued even more, I mean we don't really need the war machines of Lockheed Martin but they're more expensive stock than others that have an arguably more civilian use than their products right? So it's not utility I think, more like growth and the confidence of the investors to the product I think.

[hd49728]

I think this is a crazy achievement for Bitcoin, with a total market cap of 1.42T vs the silver market cap of $1.38T right now Bitcoin is worth more than Silver.

And is crazy to think, How a virtual asset can be worth more than a precious metal? It's crazy times that we are living in, and money and value are just losing sense. Markets decide what should worth a lot and what should crash.

If anyone is still uncertain about Bitcoin potential, they can check price chart of gold and see how it has moved since 2004. 2004 is a year when Gold ETFs were approved in the USA.
https://goldprice.org/

2024 is a year when Bitcoin Spot ETFs were approved in the USA. Good things are only starting for Bitcoin.

Source: https://8marketcap.com/

You can get it with another site
https://companiesmarketcap.com/assets-by-market-cap/

[EarnOnVictor]

I think this is a crazy achievement for Bitcoin, with a total market cap of 1.42T vs the silver market cap of $1.38T right now Bitcoin is worth more than Silver.

And is crazy to think, How a virtual asset can be worth more than a precious metal? It's crazy times that we are living in, and money and value are just losing sense. Markets decide what should worth a lot and what should crash.

I know people would have been checking the market capitalization of Gold when Bitcoin was moving higher but Gold did the more surprising things by adding more trillion dollars this time to make people shout their mouths, or else, the comparison will be more. Now is the turn of Silver since they see it as a weaker Gold. Well, the market capitalization of Silver can never be more than that of Bitcoin over time, it is an easy prediction as Silver has always stabilised around a little above a trillion dollars, and of course, we all know that Bitcoin would surpass it with time due to how people and institutions are focusing their attention on it.

But I do not see any craziness here as you claimed and it doesn't have to be a physical asset before people would appreciate it. Gold, Silver and any asset that is expensive today are so because people appreciate them and give them relevance through the money invested in them. The same is applicable to Bitcoin irrespective of whether or not it's physical. This is people's money on a good initiative (blockchain), this is priceless at the same time because it has changed the financial system to the point that even central banks have their projects on blockchains these days. This shows that it is even worth more than what it's being priced today due to its status as the pioneer of the payment blockchain initiative. I only hope that Bitcoin will hold/sustain the edge above Silver for long because the capitalization tends to reduce again during the bearish season which could make it inconsistent against Silver.

[Pi-network314159]

I think this is a crazy achievement for Bitcoin, with a total market cap of 1.42T vs the silver market cap of $1.38T right now Bitcoin is worth more than Silver.

And it will be more valuable than silver as more investors still patronize bitcoin. silver doesn't have the importance features of Bitcoin. One of the most fascinating thing about bitcoin is volatility  and it massive adoption as a digital money, it solves more financial problems than silver.

And is crazy to think, How a virtual asset can be worth more than a precious metal?

Just a precious metal and nothing more. What more effort has it contributed to the society? On like Btc which eliminatesd financial crisis, used for transaction and investment as a store of value. And can last longer than silver

[cryptoWODL]

X

I think this is an achievement and one of the milestones for Bitcoin. Basically Bitcoin has outperformed the natural resource or precious metal silver as the price of Bitcoin has surged to a much higher level over the past few days. We all know that Bitcoin is a virtual currency that many call digital gold. Now the point is that since the price of Bitcoin is volatile its price fluctuates constantly whereas the price of Silver does not fluctuate constantly like Bitcoin. Now Bitcoin has overtaken Silver but it is doubtful if Bitcoin can hold this lead as Bitcoin price is now around $72k if it crashes from there it will come back below Silver again.

Bitcoin rose to number 8 ahead of seven other assets as the price of bitcoin rose. If bullrun season starts in the market after bitcoin halving then definitely bitcoin price will rise and if bitcoin price rises to $150k then maybe bitcoin will be able to cross Amazon and Alphabet (Google)

[crwth]

It is definitely an achievement with cryptocurrency at the forefront. It is incredible how much technology can do and you can see that finance is changing and we here, members of Bitcointalk, are elated with this.

Can we treat this like subscriber battle? Up next is Gold? Lol.