Gold market cap soared to a record $30 trillion on Thursday as the metal reached a new all-time high of $4,357 per ounce.
At this level, gold is now roughly 14.5 times larger than Bitcoin, which holds a market cap of about $2.1 trillion. It also exceeds the combined value of the “Magnificent 7” tech companies, Nvidia, Microsoft, Apple, Alphabet, Amazon, Meta, and Tesla, whose total market capitalization is around $20 trillion.
Unlike corporate stocks, where market cap is based on the number of outstanding shares, gold’s valuation represents the estimated total worth of all the gold ever mined. However, determining the exact figure remains difficult due to uncertainties in historical production and lost reserves.
Investors Drive 64% Gold Rally as Bitcoin Eyes Next Move
The price of gold has jumped 64% since January 1, driven by growing investor demand for a safe-haven asset amid concerns over dollar weakness, rising geopolitical tensions, and trade tariff uncertainties.
According to crypto analyst Sykodelic, gold’s market capitalization increased by more than $300 billion on Thursday alone, roughly equivalent to the entire market cap of Bitcoin added in a single week.
Venture investor Joe Consorti noted that if Bitcoin manages to reduce its correlation with US equities during this period of global tension, and if the flow of capital into gold slows down, it could become the next major investment opportunity following the recent gold rally.
