Gold market cap tops $30 trillion…"Bitcoin will also rise"

The market capitalization of gold (Gold) surpassed $30 trillion for the first time in history, far outpacing Bitcoin (BTC) and major tech stocks. Analysts said that if gold's rally eases, funds could move into Bitcoin.

On the 17th (local time), Cointelegraph reported that the price of gold reached an all-time high of $4357 per ounce. As a result, the global market capitalization of gold reached $30 trillion. This is about 14.5 times Bitcoin's market capitalization (approximately $2.1 trillion) and about 1.5 times the combined market capitalization of the large tech stocks known as the 'Magnificent 7' (approximately $20 trillion).

Unlike corporate value based on outstanding shares, gold's market capitalization is calculated by estimating the value of all gold historically mined. Although the exact mined quantity is difficult to determine, this surge has reinforced gold's position as a 'store of value' asset.

Gold prices have risen 64% so far this year, more than doubling since the start of 2024. Experts analyzed that a combination of a weaker dollar, geopolitical instability, and trade tariff conflicts contributed to the rise.

Sykodelic, a virtual asset analyst, said, "Gold's market cap increased by $30 billion in a single day," and added, "The market cap increase over the past week is comparable to the entire market capitalization of Bitcoin."

However, he also expected Bitcoin's rise to begin in the future. He said, "The moment gold's price stops rising, Bitcoin's price will surge."

Venture investor Joe Consorti also argued, "If gold's rally slows amid geopolitical tensions, Bitcoin will be the key asset in the next upswing cycle."