No, about 3.1T USD market cap in central bank gold reserves using an estimate of 36699 tonnes at 2597.07 USD per troy ounce and 32150.75 troy ounces per tonne.
Total gold market cap using an estimate of 271583 tonnes and same price and conversion would be about 23T USD.
I would take it as a strong "trade a substantial portion of your bitcoin for gold" signal if bitcoin reaches the same market cap as gold.
https://www.gold.org/goldhub/data/how-much-gold
Guy /
npub1wu…0h6ym
2024-12-20 03:00:35
in reply to nevent1q…pq0g
Author Public Key
npub1wuhe2323lkrxpyrl848v9km974euljlxerarfe3qldahqhynyjdqa0h6ymSeen on
wss://nos.lolPublished at
2024-12-20 03:00:35Event JSON
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"content": "No, about 3.1T USD market cap in central bank gold reserves using an estimate of 36699 tonnes at 2597.07 USD per troy ounce and 32150.75 troy ounces per tonne.\n\nTotal gold market cap using an estimate of 271583 tonnes and same price and conversion would be about 23T USD.\n\nI would take it as a strong \"trade a substantial portion of your bitcoin for gold\" signal if bitcoin reaches the same market cap as gold.\n\nhttps://www.gold.org/goldhub/data/how-much-gold",
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