Gold market cap hits $30T, 14.5 times that of Bitcoin

The price of gold has surpassed $4,370 per ounce, pushing its market capitalization to $30 trillion, Cointelegraph reported. This figure is 14.5 times larger than Bitcoin's total market cap. According to crypto analyst Sykodelic, gold's market cap grew by an amount equivalent to Bitcoin's entire market capitalization in just one week. Analyst Merlijn The Trader noted that while a surge in the global M2 money supply is driving gold prices higher, Bitcoin has remained relatively quiet. The analyst predicted that this divergence will not last, as liquidity always seeks out risk assets, suggesting that Bitcoin is poised for a very strong rally.