Bitcoin reached an all-time high, reaching as high as $123,000.
Following this historic surge, investors and analysts have begun to re-discuss the next big goal for the world’s largest digital asset: reaching the market capitalization of gold.
Currently, the price of Bitcoin is hovering around $117,252 and its total market capitalization is around $2.34 trillion.
In comparison, gold’s estimated total market capitalization is $23.13 trillion. This means Bitcoin currently represents only 10.09% of gold’s market capitalization. Analysts estimate that for Bitcoin to “flip”—or surpass—gold’s market capitalization, its price would need to rise to $1,161,767, representing an increase of approximately 890% from today’s level.
Bitcoin’s long-term performance is increasing the number of investors who believe this goal is beyond imagination. While Bitcoin has gained over 1,168 percent in the last five years, gold’s return has been only around 85 percent. Over the three-year period, Bitcoin has risen 470 percent, while gold’s return has remained at 92 percent.
This comparison paints a similar picture over the two-year, one-year, and three-month periods. For example, since the beginning of 2025, BTC has increased by approximately 25%, while gold has gained around 26%. However, in just the last three months, Bitcoin has gained over 38%, while gold has only gained around 3%. In the last month, Bitcoin has risen by more than 11%, while gold has lost 4%.
There are also significant differences between the two assets on the supply side. Bitcoin’s annual supply growth is around 0.83%, while gold’s is estimated at around 1.72%. Furthermore, Bitcoin’s halving mechanism, which occurs every four years, further reduces new supply, making the digital asset even more scarce.
*This is not investment advice.