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Bitcoin’s price out values 1kg of gold as its market cap exceeds silver

November 12, 2024Updated:November 12, 2024No Comments2 Mins Read
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Bitcoin’s price out values 1kg of gold as its market cap exceeds silver
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Bitcoin’s record-breaking value streak to almost $90,000 has positioned the highest crypto asset forward of silver and gold in key market metrics.

Information tracked by TradingView confirmed that gold is on a downward slope. The value of 1 kilogram of gold dropped to $83,439 as spot gold declined by 1.8% to $2,636 per ounce as of press time. This fall marks the steepest time for the dear metallic since early Might.

Bitcoin’s price out values 1kg of gold as its market cap exceeds silverGold Price
1 KG of Gold Worth (Supply: Tradingview)

In stark distinction, Bitcoin has surged by practically 27% over the previous week to a brand new all-time excessive of $89,956, boosted by optimism round Donald Trump’s ascension to the White Home. Unsurprisingly, Bitcoin’s fast climb has pushed its market capitalization previous silver’s, a notable achievement for an asset usually known as “digital gold.”

Now valued at roughly $1.73 trillion, Bitcoin is the world’s eighth-largest asset, edging silver with a $1.71 trillion market cap. In the meantime, gold stays the main international asset, with a commanding market cap of $17.4 trillion.

Bitcoin Gold SilverBitcoin Gold Silver
High 9 Property (Supply; CompaniesMarketCap)

Disclaimer: Our writers’ opinions are solely their very own and don’t replicate the opinion of CryptoSlate. Not one of the info you learn on CryptoSlate ought to be taken as funding recommendation, nor does CryptoSlate endorse any venture which may be talked about or linked to on this article. Shopping for and buying and selling cryptocurrencies ought to be thought-about a high-risk exercise. Please do your individual due diligence earlier than taking any motion associated to content material inside this text. Lastly, CryptoSlate takes no duty must you lose cash buying and selling cryptocurrencies.



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1kg Bitcoins Cap exceeds gold Market Price Silver values
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