$45,000 Bitcoin looks cheap when compared to gold’s marketcap By Cointelegraph
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© Reuters (BTC) pulled off an impressive double-digit rally this year, but the digital asset has been struggling to break the $45,000 resistance lately. This level does not hold any historical importance because it has been easily breached multiple times. The same can be said for Bitcoin’s $850 billion capitalization, which isn’t anywhere close to silver’s $1.4 trillion, or the Amazon (NASDAQ:) and Google (NASDAQ:)’s $1.7 trillion market value.
Bitcoin’s market cap is often compared to gold, which has a $12.3 trillion total value and is currently the leading global store of value solution. Therefore, the answer to the $45,000 resistance might lay in institutional investors’ comparison of BTC versus gold. By looking at institutional investor funds assets under management and daily trading volume, it is possible to infer that Bitcoin’s 93% market capitalization discount is justified.
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Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
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© Reuters (BTC) pulled off an impressive double-digit rally this year, but the digital asset has been struggling to break the $45,000 resistance lately. This level does not hold any historical importance because it has been easily breached multiple times. The same can be said for Bitcoin’s $850 billion capitalization, which isn’t anywhere close to silver’s $1.4 trillion, or the Amazon (NASDAQ:) and Google (NASDAQ:)’s $1.7 trillion market value.
Bitcoin’s market cap is often compared to gold, which has a $12.3 trillion total value and is currently the leading global store of value solution. Therefore, the answer to the $45,000 resistance might lay in institutional investors’ comparison of BTC versus gold. By looking at institutional investor funds assets under management and daily trading volume, it is possible to infer that Bitcoin’s 93% market capitalization discount is justified.
Continue Reading on Coin Telegraph
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
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