Gold’s market capitalization climbed to an unprecedented $30 trillion on Thursday, following a rally that pushed the metal’s price to an all-time high of $4,357 per ounce.
At this milestone, gold’s total value is roughly 14.5 times larger than Bitcoin’s, which currently holds a market cap of around $2.1 trillion. It also exceeds the combined market capitalization of the world’s seven largest tech companies — Nvidia, Microsoft, Apple, Alphabet, Amazon, Meta, and Tesla — whose total stands at about $20 trillion.
Unlike a company’s market cap, which is based on outstanding shares, gold’s market capitalization estimates the total value of all gold ever mined — a figure that can only be approximated due to the uncertainty around total global reserves.
Gold’s Explosive Rally — and What It Could Mean for Bitcoin
Gold prices have surged 64% since January 1, as investors seek safety in hard assets amid dollar depreciation, rising geopolitical tensions, and renewed trade concerns.
The surge highlights a broader shift toward store-of-value assets — a trend that could also bolster sentiment around Bitcoin, which has increasingly been viewed as “digital gold” in times of economic uncertainty.
Many analysts believe that once the gold market cools, some of that capital could flow into Bitcoin, often dubbed “digital gold.”
“Gold added over $300 billion to its market cap today,” crypto analyst Sykodelic noted on Thursday. “It’s been adding the equivalent of an entire Bitcoin market cap in just one week,” he added.
“I don’t understand how most cannot see that as soon as gold stalls, BTC is going to rip.”
“If Bitcoin can reduce its correlation with U.S. equities amid the current geopolitical tensions — especially if gold inflows begin to slow — this could become the next big trade,” said venture investor Joe Consorti.
Meanwhile, analyst Merlijn the Trader pointed out a striking divergence: global M2 money supply is soaring, gold is rallying, but Bitcoin remains dormant.
“This gap never lasts — liquidity always seeks risk — and when it catches up, the rally will be intense,” he added.
Bitcoin is currently up 16% from its levels on Jan. 1, which is almost 14% from its all-time high.
