Martin Mladenov on Nostr: Gold’s market cap is sitting at $22.341 trillion, while Bitcoin’s is at $2.197 ...

Gold’s market cap is sitting at $22.341 trillion, while Bitcoin’s is at $2.197 trillion, with its current price at $110,584.

First, we need to know how many Bitcoins are out there. If we divide Bitcoin’s market cap by its price, we get roughly 19.87 million Bitcoins in circulation, which makes sense since we know the total supply is capped at 21 million and about 19.7 million are already mined by now.

Now, to beat gold, Bitcoin’s market cap needs to go just above $22.341 trillion—let’s say $22.342 trillion to be safe. If we take that number and divide it by the number of Bitcoins, we’re looking at a price of about $1,124,399 per Bitcoin.

So, Bitcoin would need to hit around $1.124 million to surpass gold in market cap! Pretty wild, right?