Bitcoin reaches 10% of gold’s market cap, according to one estimate

Estimates place the total market capitalization of all mined gold between $10 trillion and $11 trillion. 

By the estimate tracked by The Block Research, drawing from Gold.com’s GoldHub, bitcoin’s market capitalization is now just over 10% that of gold’s, as shown in the chart below:

The heightened figure comes after bitcoin’s market cap exceeded $1 trillion for the first time last week. The cryptocurrency’s price advances have seen its value shoot above $57,000, bringing the total market capitalization to roughly $1.1 trillion, according to Coinbase data.