The connection between Bitcoin and gold goes back to Bitcoin’s origin. While it is not mentioned in the Bitcoin white paper, Satoshi Nakamoto actually referred to gold’s rarity in a Bitcointalk forum post when introducing the first version of Bitcoin in 2009. This was to emphasize the importance of a limited supply of 21 million coins.
Bitcoin’s present market cap of $570 billion outshines traditional giants like Visa, Taiwan Semiconductor and JPMorgan Chase. However, it’s still 55% behind silver and significantly trails the world’s foremost tradable asset, gold. For instance, central banks and the International Monetary Fund hold a hefty 46,603 tonnes of gold, equivalent to $2.84 trillion. Private investments in bars and coins add 45,000 tonnes, worth an extra $2.74 trillion. In total, investors hold $5.8 trillion in gold, accounting for 45.2% of its market cap.
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