Bitcoin will replace the Silver Marketcap

MiningBattalion

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Quote from: iTradeChips on March 12, 2021, 06:29:37 AM

I got curious by the OP here so I did some research on my own and saw some news about it. It goes like this:

"Some on Crypto Twitter were even talking about Bitcoin overtaking silver as the sixth most valuable asset in the world. It’s currently ranked eighth, with a market cap of just $US1 trillion.

If silver prices stay constant at US$26 an ounce, BTC would have to trade at around $US76,700 ($99,100) to “flip” the precious metal."

My opinion on this is that this is big news indeed. This would make investors of other assets be able to invest in bitcoin and hopefully be able to profit very big on this. But of course, that is only if the predictions will come true. For me it is only a matter of when this will happen.

Source: https://stockhead.com.au/news/next-stop-us60k-alts-dump-as-bitcoin-pumps-and-the-bulls-dream-of-flipping-silver/

As bitcoin continues its meteoric run, more investors are now reviewing the longstanding comparison between the famous cryptocurrency and gold.Insider surveyed 10 experts to see which asset they'd rather hold for the next ten years-and why.Both assets, experts say, are often seen as ways to diversify a portfolio or as a hedge against fiat currency inflation brought about by what some observers see as unsustainable fiscal and monetary policies.

shushu9977

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Bitcoin will replace the silver marketcap, because year of year, bitcoin breaks it’s own record and reach a good position. If bitcoin hits 90k/90k, then bitcoin will cross silver. If bitcoin hits 110k/120k, then it will reach top 3/4 position. Now see, what happen at end of the year 2021.

galestorm

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Futurov

The cryptocurrency has drastically grew through the years. From a market cap of 97 billion back in march 2020, to a market cap of 1 trillion in 2021. This just goes to show that bitcoin is moving in a much faster pace. But truth be told, there are people who are still skeptical of this digital currency. Little do they know that bitcoin holds more value and can potentially make it through the top 5 in the list that OP posted, IF and only IF they stop treating bitcoin as if it is a fraud's coin. I do believe that if a huge number of people start to invest on bitcoin and recognize its worth, the market cap of bitcoin would grow past of silver's market cap.

iTradeChips

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I got curious by the OP here so I did some research on my own and saw some news about it. It goes like this:

"Some on Crypto Twitter were even talking about Bitcoin overtaking silver as the sixth most valuable asset in the world. It’s currently ranked eighth, with a market cap of just $US1 trillion.

If silver prices stay constant at US$26 an ounce, BTC would have to trade at around $US76,700 ($99,100) to “flip” the precious metal."

My opinion on this is that this is big news indeed. This would make investors of other assets be able to invest in bitcoin and hopefully be able to profit very big on this. But of course, that is only if the predictions will come true. For me it is only a matter of when this will happen.

Source: https://stockhead.com.au/news/next-stop-us60k-alts-dump-as-bitcoin-pumps-and-the-bulls-dream-of-flipping-silver/

aysg76

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It only took Bitcoin 12 years to reach $1 trillion market cap which is fastest compared to the top big companies in S&P index 500 like Amazon, Microsoft,Apple.This was due to major rally in the prices and huge investment in the market by Tesla, MicroStrategy and other institutional investors.When prices plunged and reached almost $50k above in last year pandemic the growth was more than 300%.Bitcoin has come a long way within few years and we can wait for another few years and see it will on top of all and that's where we need to celebrate.The gold investors are turning into Bitcoin investment like Peter Schiff sons turns his portfolio into 100% Bitcoin and many more are in the way so just wait for that time.

Lorence.xD

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Quote from: Coyster on March 12, 2021, 03:29:12 AM

Quote from: Lorence.xD on March 12, 2021, 02:23:42 AM

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I second that as well, I'm also concerned about how long institutional Investors joining the network intend to stay with Bitcoin, quite a lot of users have voiced their concern on the influx of these investors and if they are just going to pull out sometime soon, taking their ROI and what that will do to the Bitcoin network, negatively of course. But I beg to agree with you, it doesn't look like these investors are short term investors judging by how much money they are investing/hedging with, I also believe the network will recover and find another factor to propel it forward, evading a serious crash if these investors back out sooner rather than later.

Well, with the amount they are pouring in bitcoin, I think that they are planning on manipulating the market because the only way you can influence the prices in the market, no matter what market it is is by volumes which means that in the long term accumulation they might have already projected that they are going to have more benefits than doing a short stint in the market. It does raise some concern but overtime as the demand goes up, it will be more difficult for this companies to accumulate those bitcoins.

Coyster

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Quote from: Lorence.xD on March 12, 2021, 02:23:42 AM

..I don't think companies would easily back down from their investment in crypto, they are in it for the long term AFAIK.

I second that as well, I'm also concerned about how long institutional Investors joining the network intend to stay with Bitcoin, quite a lot of users have voiced their concern on the influx of these investors and if they are just going to pull out sometime soon, taking their ROI and what that will do to the Bitcoin network, negatively of course. But I beg to agree with you, it doesn't look like these investors are short term investors judging by how much money they are investing/hedging with, I also believe the network will recover and find another factor to propel it forward, evading a serious crash if these investors back out sooner rather than later.

Quote from: seramania on February 21, 2021, 05:28:57 PM

...but what we hope is that bitcoin can overtake gold. if this could happen it seems very extraordinary and proud for us to see today.

That atm looks rather unlikely, Gold is an asset that is considered a 'safe-haven', quite a lot of people believe Bitcoin is falling into that category gradually, but for now it's not just yet there, imo, before BTC can come close to Gold, it should have been mainstream by then, and that will take a really pretty long time.

JohnBitCo

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Quote from: ?? on ??

By the way can you give the source of the data so that we can check the real-time data ?

You can get the up to date data from here.

https://8marketcap.com/

Here you will find list of over 10,000 assets sorted by Market Cap.

Lorence.xD

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Quote from: oHnK on February 21, 2021, 07:25:37 AM

Quote from: Lorence.xD on February 21, 2021, 01:13:37 AM

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It is too early for me to say Bitcoin surpasses silver. Because silver has been around for a long time and is considered a valuable commodity. Right now Bitcoin is still hype because big companies are starting to invest but if they suddenly back down on Crypto investing, I'm sure Crypto will collapse in lightning fast.

Not to mention that the silver is more than just a jewelry as it is used for electronics together with other precious metals. Maybe crypto will collapse or maybe it won't but one thing is for sure, if the global adoption rate of bitcoin continues at the current pace, I think that we can surpass silver in the long run but who knows what will happen as we are all just speculating the events that hasn't happened yet. I don't think companies would easily back down from their investment in crypto, they are in it for the long term AFAIK.

josgandosbro

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Silver market not easy to replace the Bitcoin market place. So any coin not reach the Bitcoin price and place. It any time to up and down. It not easy guess the prices. So silver Market also chgen the price any never will Reach the Bitcoin price. All market place any time to change. So before invest choose the coin and invest it. It any time to hit the price. So time to acct.

leea-1334

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Temporary forum vacation

I do not doubt this for a moment that it will happen. More Bitcoins coming into supply and price going up, but I do not think it will happen as soon as we might think. I hope to be proven wrong,,, but I really do not think it will mean one thing or other though:) Silver will still be seen as a good alternative to gold:)

concept2

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Bitcoin will definitely surpass this metal. Mark my words. From the bottom of my heart, bitcoin is now become the best asset to invest and gain profit. Soon, we will see this digital currency skyroket and hit $100000.

With the larger market cap, more people will look at bitcoin with a different eye. They will no longer criticize bitcoin excessively and start to invest their money in this inestimable cryptocurrency. In the next few years, bitcoin surely make the world surge under its feet

hulla

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Bitcoin and the whole market at large make a remarkable price growth this year. Footing news of about Khurram Shroff ( the chairman of Dubai’s IBC Group) promised to make the highest institution investment that worth $4.8bn in Bitcoin and some other institutional investors that will join the race I believe Bitcoin will replace silver and other commodities range in the Marketcap list.

Asusnumbaone

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Quote from: JohnBitCo on February 20, 2021, 05:36:50 AM

It look like bitcoin is heading to replace the silver marketcap this year. How quickly bitcoin is moving up, no one can't imagine.

Bitcoin today have high price and many of the investor want the bitcoin, social media giving an attention on the bitcoin compare to the gold or silver many people want to lear about trading or investing on cryptocurrency that's why this is the reason bitcoin will surpass silver or gold.

JohnBitCo

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Quote from: bryant.coleman on February 21, 2021, 08:56:25 AM

Gold is the no.1 target, and not silver. The case with silver is a bit complicated, because silver is widely used for various purposes in industry, and not just for investment. Silver is used in solar panels, conductors, water filtering.etc. So it is quite difficult to get the amount of silver, that is being held as bullion. Gold also has industrial usage, but that represents less than 0.1% of its annual mine production.

The correlation between Gold and silver is exactly similar as between bitcoin and ethereum. Bitcoin is a store of value which is mostly for investment while we have a lot of smart contracts and use cases on ethereum.
I hope one day Ethereum will also be in the top 10-20 marketcap assets.

cr1776

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Quote from: bryant.coleman on February 21, 2021, 08:56:25 AM

Gold is the no.1 target, and not silver. The case with silver is a bit complicated, because silver is widely used for various purposes in industry, and not just for investment. Silver is used in solar panels, conductors, water filtering.etc. So it is quite difficult to get the amount of silver, that is being held as bullion. Gold also has industrial usage, but that represents less than 0.1% of its annual mine production.

You are exactly right. Silver is a mere milestone on the way to gold and more.

vin1103

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its very possible for bitcoin replace silver on marketcap digital tech goin crazy since covid 19, and digital comodity (digital currency) have good future even elon mush accept crypto for transaction

DexHaer

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If the facts about silver shortage is true, its price can go up.

xceltoken_plus

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My main takeaway is obviously not to pit silver against Bitcoin. Rather, it's to point out their similarities, and the opportunities they offer going forward.

Investors should not look these options as mutually exclusive. Instead, they should simply own silver and Bitcoin.

Yes, they are likely to be volatile. But they also both have wild secular bull markets ahead of them.

Obito

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Quote from: ubercool on February 22, 2021, 12:11:51 AM

Frankly speaking, I don't care about other company market caps, but gold and silver are the most trusted, used, and traded assets in every situation and in every part of the planet. It's definitely great news for all of the crypto community when Bitcoin crosses Silver and aims towards Gold. We all dreamed of that world where Bitcoin proves that it's a better asset than Gold and we have more support here.

When was the last time that someone used gold to buy a chicken or a beef in the market? It is not the most used and most trusted and traded asset in every situation. That was a long time ago when Mercantilism was still a thing. I do agree it is a great news but bitcoin surpassing the market cap is still one big pipe dream for it to happen. There are still oil barons in the Middle East that needs to be defeated, Apple is still on the rise and more companies are rising everyday.

Topic: Bitcoin will replace the Silver Marketcap (Read 380 times)