It looks like the value of #Bitcoin is collapsing against Gold.
https://blossom.primal.net/034baf81aaf5ca730a8a7c6727d5137c0915768b5a3dd2de266ef48da921b8b8.png
Here's something to consider: every year, around 3,600 metric tons of new gold are mined, worth roughly $600 billion, and that will continue forever.
By contrast, Bitcoin's total market capitalization is about $1,800 billion, and its supply is strictly limited. That means all the existing Bitcoin is worth roughly three years' worth of newly mined gold. There's no way these prices can hold for long.
On top of that, storing and securing gold comes with enormous costs, whereas Bitcoin's costs are just a fraction of that. Time is on our side. 😎
By contrast, Bitcoin's total market capitalization is about $1,800 billion, and its supply is strictly limited. That means all the existing Bitcoin is worth roughly three years' worth of newly mined gold. There's no way these prices can hold for long.
On top of that, storing and securing gold comes with enormous costs, whereas Bitcoin's costs are just a fraction of that. Time is on our side. 😎
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