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

~

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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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.

ubercool

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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.

dansus021

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Shasha80

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With Bitcoin's improving performance, it is possible that Bitcoin can eventually replace Silver's position. Especially now that many institutions have
started investing in Bitcoin, so I am optimistic that it will only take a few more months for Bitcoin to pass through the Silver market cap. Now on
the internet there are many articles that talk about Bitcoin, so the popularity of Bitcoin has increased very significantly. In fact, there are many
celebrities who are getting enthusiastic about Bitcoin too. Bitcoin should be able to replace Gold's position in the future, although this will take quite
a long time.

Ryker1

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

to overtake silver it looks like bitcoin is not that difficult, it only needs to increase the market by a few percent and the time needed is also not too long. 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.

Well, if this will continue the bull run at least for how many months, there is no doubt that the market cap of silver will be surpassed by the bitcoin.
Bitcoin investing now is very trending everywhere and the fixed amount that gives the price fluctuated too much compared to silver which has an unlimited supply. Look at this news, ^{[ https://www.apnnews.com/bitcoin-market-cap-nears-50-of-silver-surpasses-32-of-ftses-100/ ]}, if you see, bitcoin was almost there and ready to surpass silver.

seramania

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to overtake silver it looks like bitcoin is not that difficult, it only needs to increase the market by a few percent and the time needed is also not too long. 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.

pixie85

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Quote from: mk4 on February 21, 2021, 12:51:25 AM

Quote from: pixie85 on February 20, 2021, 06:45:56 PM

People who invest be it stocks gold silver or bitcoin are a special group, usually smarter than the average wage worker and we are all in the same team. More or less Wink

Completely depends. Tell me that 5 years ago and I'll agree a lot more. Today though? Where investing is gamified enough that even people who don't know crap about investing can invest in just a few taps on their phone? While I don't disagree, I definitely have mixed opinions; only somewhat agree.

You're right about access to investments being easier than ever but the group that invests by a phone app is mostly weak hands. I might be wrong but I would not expect someone whose first idea of investment is an app from google store to be a long term investor or to treat this as a way to build a portfolio or secure their future.

These are fish we're talking about here. Real investors who own silver will keep it as a hedge even if it loses to bitcoin in market cap.

OscarDavidson

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Quote from: m2017 on February 21, 2021, 06:03:45 AM

The dynamics of bitcoin growth is surprising. Now the 8/10 position seems unimaginable to us, but one day the day will come when bitcoin will take 1st place of that list. Most people now find it hard to believe. But we know here that this is inevitable, don't we?

I completely agree with you, fellow. I know some people do can find it's hard to believe such ideas but not for me. I'm a crypto enthusiast to the core. 1 BTC coin already costs more than one pound of gold. It's only a matter of time when Bitcoin's market cap will be in the first position in this list.

Red Pie

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we will see you playing to the top soon. After 2020, bitcoin will be constantly on the world's economic agenda. I think that the countries' efforts to release or extract stable coins are due to their fear of bitcoin. I believe we will come to a situation that can compete with gold.

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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.

This is achievable with the current bull run we are experiencing, if the bull run continues till the end of this year, then bitcoin might just surpass the marketcap of silver by then the price of bitcoin must have risen to $85k+, also looking at the chart the marketcap of gold is really large it might take bitcoin more than 5years+ to be able to beat that, cause it still needs to gain the trust of other large investors not just the current ones, nevertheless anything is possible.

bryant.coleman

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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.

XZERO1

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Looking at silver chart Silver seems really strong, and even though it mostly follows Gold chart, Wouldn't surprise me if it starts having 0.5%-1% upward movements on its own uncorrelated with Gold, Gold is getting too expensive and what I'm seeing is that people are looking for the next(future) Gold in terms of price movements and they're mostly going for Silver considering how cheap it still is comparing to other valuable metals such as gold and palladium.

Comparison between Gold and Silver chart on daily:

oHnK

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

Isn't that the exact price of silver's market cap? Almost everything there AFAIK is an estimate of the whole thing. 400 billion is a lot of money for bitcoin market cap to accumulate which means that there is still a lot of hurdles before we can surpass the silver market cap, not to mention that Google is on the way so we have to surpass this one before doing so with the other.

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.

m2017

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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.

The dynamics of bitcoin growth is surprising. Now the 8/10 position seems unimaginable to us, but one day the day will come when bitcoin will take 1st place of that list. Most people now find it hard to believe. But we know here that this is inevitable, don't we?

OgNasty

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A lot of money is moving from gold to silver right now. I wouldn’t be surprised if the silver market cap rises quite a bit from here. Granted Bitcoin will as well, but it might require Bitcoin to hit 100K if you want to see it surpass silver.

Lorence.xD

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Quote from: GeorgeJohn on February 20, 2021, 04:57:07 PM

From my perspective the movement of bitcoin via increment this year is very astonished and I think it deserved jubilation, saying that bitcoin will replace silver, you're not mistaking because the length people are buying and investing in cryptocurrency in general is highly expensive so marketcap of bitcoin is changing everyday and everytime, but the problem is that we have to know exact price of silver and compare it to existing price of bitcoin before we call for conclusion.

Isn't that the exact price of silver's market cap? Almost everything there AFAIK is an estimate of the whole thing. 400 billion is a lot of money for bitcoin market cap to accumulate which means that there is still a lot of hurdles before we can surpass the silver market cap, not to mention that Google is on the way so we have to surpass this one before doing so with the other.

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Quote from: pixie85 on February 20, 2021, 06:45:56 PM

People who invest be it stocks gold silver or bitcoin are a special group, usually smarter than the average wage worker and we are all in the same team. More or less Wink

Completely depends. Tell me that 5 years ago and I'll agree a lot more. Today though? Where investing is gamified enough that even people who don't know crap about investing can invest in just a few taps on their phone? While I don't disagree, I definitely have mixed opinions; only somewhat agree.

tinopener

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Quote from: pixie85 on February 20, 2021, 06:45:56 PM

People who invest be it stocks gold silver or bitcoin are a special group, usually smarter than the average wage worker and we are all in the same team. More or less Wink

As you mention stocks and gold... maybe another part of the value of Bitcoin is just as kind of a neutral vanilla diversifier, that can add value to the entire investment universe. Sort of like Dark Matter.

Max Keiser (Bitcoin pundit on Russia Today) was saying today that Bitcoin was going to take value from gold, the dollar and stocks.

He is probably the original Bitcoin bull, but I don't think there is anything wrong with taking a bit of heat out of the bubbling-over stock market.

pixie85

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I always thought silver was too overrated, very well!

I always liked silver jewelry more then gold and silverware is beautiful

Let's not hate on silver. If it gets overtaken by Bitcoin that's great beacuse it will mean Bitcoin will once again prove people like Peter Schiff wrong, but I don't think that it will make holders of gold suddenly dump it all.

People who invest be it stocks gold silver or bitcoin are a special group, usually smarter than the average wage worker and we are all in the same team. More or less Wink

GeorgeJohn

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From my perspective the movement of bitcoin via increment this year is very astonished and I think it deserved jubilation, saying that bitcoin will replace silver, you're not mistaking because the length people are buying and investing in cryptocurrency in general is highly expensive so marketcap of bitcoin is changing everyday and everytime, but the problem is that we have to know exact price of silver and compare it to existing price of bitcoin before we call for conclusion.

20kevin20

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This is purely insane! Look how the mcap looked like during the previous ATH bull runs:

- 2014: $11B ($933)
- 2017: $320B ($19,140)
- 2021: $1050B ($55,531)

Sources: 2014, 2017

By the looks of it, we should be getting past the silver mcap easily by 2025. I see it happening, a lot of precious metal investors seem to be moving from them to crypto.. the Bitcoin is the digital gold argument might actually not be in vain Cheesy

matjas

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Quote from: virasog on February 20, 2021, 04:10:37 PM

Bitcoin is now 1/10th of the gold marketcap. It is currently at 1 trillion and it needs to raise by 10 times in order to reach 10 T marketcap. This means that roughly the bitcoin price will be 500,000$ at that moment. I don't see this happening in this market cycle. However, we might be on top of gold, after the next market cycle in 2025.

By 2025 gold price will go up more and marketcap of top companies will raise too, so i am pretty sure BTC price will have to be higher then 500,000$ in order to overtake gold.

virasog

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Quote from: mk4 on February 20, 2021, 05:48:44 AM

In my opinion it really doesn't make that much sense celebrating when bitcoin overtakes marketcaps of certain companies. Silver though? Significantly a bigger deal, and it ain't really that far off from here— we only need approximately 45% increase from here.

On the other hand, bitcoin overtaking gold? Now THAT's a huge huge deal.

Bitcoin is now 1/10th of the gold marketcap. It is currently at 1 trillion and it needs to raise by 10 times in order to reach 10 T marketcap. This means that roughly the bitcoin price will be 500,000$ at that moment. I don't see this happening in this market cycle. However, we might be on top of gold, after the next market cycle in 2025.

tinopener

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I've been thinking that the growth of Bitcoin is actually a good thing for other traditional assets, well mostly the stock market.

The stock market is in danger of overheating, and if some money flows into Bitcoin instead, it may prevent it bubbling up too much.

Bitcoin the pressure safety valve. Who knew Wink

cr1776

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Just remember that the price is set at the margin, so it isn't as if 9 trillion dollars needs to come into the market to get to gold's market cap. For example, if there were only 100 BTC for sale between here (57k) and, say, 600,000.00, it wouldn't take much. The question is how many coins will be for sale between here and 600k? Certainly not every coin is for sale.

If there are 500,000 coins for sale between here and 600k you are talking about at most "only" $300 billion in new investments to get to gold's market cap. (That's if all sold at 600k.)

The people selling now are similar to the ones selling at 1, 10, 30, 1000, 10000 and they'll likely regret it as much later.

Bitcoin will eventually catch silver, it is just a question of when, purely a supply and demand issue. When you have people buying on the margin, they'll get liquidated on a drop exacerbating the drop. When you have people shorting it, they'll have to cover on the upswings, reinforcing the upward trajectory.

With people who aren't prone to panic (one hopes, like Tesla, MSTR etc) the available coins will shrink. As the market grows, it will become more stable, and things like the Canadian ETF help. Now the US needs one to give GBTC some competition.

Jating

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Quote from: mk4 on February 20, 2021, 05:48:44 AM

In my opinion it really doesn't make that much sense celebrating when bitcoin overtakes marketcaps of certain companies. Silver though? Significantly a bigger deal, and it ain't really that far off from here— we only need approximately 45% increase from here.

Yeah, I agree, those are just numbers though, so it's no biggie if we see bitcoin overtaking "X company" or "X commodity".

Quote from: mk4 on February 20, 2021, 05:48:44 AM

On the other hand, bitcoin overtaking gold? Now THAT's a huge huge deal.

Bitcoin needs to get x10 to overtake gold, so that's a significant amount of capital that needs to flourish to bitcoin market. So it might take years to happen, and I don't know where that huge influx of money will come. Unless the world will go full bitcoin in the next 10-20 years to replace Gold as a store of value and being used by government as hedge.

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Quote from: mk4 on February 20, 2021, 05:48:44 AM

On the other hand, bitcoin overtaking gold? Now THAT's a huge huge deal.

This is truly a huge deal, but time will tell. Bitcoin has made it through such being most successful asset that is newly developed (just 11 years ago) it is a sign that gold have no option than to be in the second position. This is just a matter of time that may not be more than 2 decades. People will still later prefer more of bitcoin, the reason is the reason institutions are going for bitcoin now, seeing it more deflationary than any other asset which will make it more valuable in the future.

Review Master

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If bitcoin hits $80k with this current bullish rally and than it'll be a matter to time to get closure to silver or even replace the silver marketcap. More likely, it'll done within a few months as more and more institutional investment is going and Elon Musk is doing the PR of Bitcoin as well. So, just wait for the right time to celebrate that milestone.

mk4

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In my opinion it really doesn't make that much sense celebrating when bitcoin overtakes marketcaps of certain companies. Silver though? Significantly a bigger deal, and it ain't really that far off from here— we only need approximately 45% increase from here.

On the other hand, bitcoin overtaking gold? Now THAT's a huge huge deal.

JohnBitCo

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

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