Advertising

Bitcoin and Ethereum on the brink of surpassing silver in total market value

bitcoin and ethereum and silver
4 1 vote
Article Rating
Bitcoin alone only needs to increase by another US$300 billion in market capitalization, or about 27%.

The total market value of Bitcoin and Ethereum together is close to exceeding the market capitalization of the second largest monetary commodity, silver.

Bitcoin’s market capitalization is currently US$1.095 trillion, while Ethereum’s is US$240 billion, totaling around US$1.33 trillion.

There are currently 1,740,000 tons of silver discovered so far, according to the United States Geological Survey. At US$813.41 per kilo, silver has a total market capitalization of around US$1.4 trillion.

bitcoin and ethereum surpassing silver

The two cryptocurrencies therefore become the first digital asset in the world to surpass the money of the millennium generation.

Bitcoin: Digital Gold

Bitcoin alone only needs to increase by another US$300 billion in market capitalization, or about 27%, to surpass silver.

That would take him to a price of around US$74,000 per Bitcoin, something that may well be the next line of resistance if the digital currency manages to exceed US$60,000.

READ more:  Bit2Me expands its services to Italy and Portugal, placing billboards in some cities

Bitcoiners, however, are eyeing the gold market capitalization, which is about US$12 trillion and would require a price of around half a million dollars for Bitcoin.

Ethereum: Digital silver

Silver is arguably more for Ethereum, which can reach a price of about US$15,000 for Ether, or about eight times its value from here.

Bitcoin, in particular, is being seen by some as better than gold because it is a digital gold. If Bitcoin gets there, Ethereum will take on the role of silver, acting both as a substitute for Bitcoin and as a more usable asset.

Both gold and silver, however, will continue to have some role, not just for wedding rings, but you cannot buy NFTs with gold, and you cannot collateralize gold or silver as you can with Bitcoin or Ethereum through DeFi.

Just like gold and silver, Bitcoin and Ethereum also have their use cases, whether for international trade, to buy digital art or even to buy houses.

Bitcoin feito de prata
Bitcoin made in Silver

With regard to the role of being money outside the fiduciary system, it seems somewhat clear that both Bitcoin and Ethereum are somewhat superior in having a finite supply, both of which are usable as a bearer asset in the digital realm, as well as in the physical realm, through paper wallets or real coins, as illustrated above.

READ more:  DeFi ETF by Goldman Sachs receives criticism being even considered "like a fraud"

And both being much more easily divisible, impossible to falsify and because they are extremely easy to transport in addition to being more accessible magnitudes due to all these brokers worldwide.

Therefore, it is probably only a matter of time before Bitcoin exceeds the market capitalization of silver, but whether it will be able to exceed the market capitalization of gold, it remains to be seen.

4 1 vote
Article Rating


Follow us on Facebook, Twitter, Instagram, and Telegram, and don’t miss any crypto news.


Disclaimer:

The information expressed in this article is solely those of the author and do not necessarily reflect the vies of CryptoDeFinance.  Each and every investment and trading move involves high risk. You should always conduct your own research when making a decision in crypto investment.
Share on facebook
Share on twitter
Share on linkedin
Share on reddit
Share on tumblr
Share on telegram
Share on whatsapp

Bruno Marques

Hi! I am the CEO/Founder of Crypto DeFinance, and I am an Enthusiast crypto investor. I started this project so we can provide you with carefully curated news. If you like us and our news, share the posts and comment. Your visit and interaction is very important to us.
Subscribe
Notify of
guest
0 Comentários
Inline Feedbacks
View all comments

MORE NEWS

Yield Farming is one of the main innovations brought by decentralized finance (DeFi) to the cryptocurrency market. And, without a doubt, it was one of the reasons for the explosion of these projects in the year 2020. So if you want to know more about what is Yield Farming, read further.

So, you want to know a little more about what are Liquidity Pools and how they work in the Defi Market?! In a small resume, Liquidity pools are the foundation of automated revenue-generating platforms. There are probably many other uses for them that have not yet been discovered. Read further to learn more.

bitcoin
Bitcoin (BTC) $ 42,140.00
ethereum
Ethereum (ETH) $ 2,865.29
cardano
Cardano (ADA) $ 2.05
binance-coin
Binance Coin (BNB) $ 354.22
dogecoin
Dogecoin (DOGE) $ 0.206559
matic-network
Polygon (MATIC) $ 1.08
pancakeswap-token
PancakeSwap (CAKE) $ 18.35
0
Would love your thoughts, please comment.x
()
x
Don't Miss The Latest Crypto News! Subscribe Now