When it comes to storing value, what could be more iconic than Fort Knox, where the US keeps a large portion of its gold reserves? It’s heavily guarded and contains gold worth over $290 billion.
But that along with all other US reserves, at $456 billion, are worth less than half of the value of all bitcoin, at $948 billion.
The value of all bitcoin worldwide still pales in comparison to the value of gold, however. Were they to reach parity, bitcoin’s value would have to multiply many times.
(I arrived at the value of all US gold reserves by taking the reserve amount here and multiplying it by the price per metric ton here.)
For more on cryptocurrencies and financial markets, check out these posts:
- This One Fact Could Drive Dogecoin Up 100X
- Bots Are Pumping GameStop And Dogecoin
- Big Profits And Lots of Short Sellers Could Make Rocket Companies a Winner
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Photo: “Bitcoin, bitcoin coin, physical bitcoin, bitcoin photo” by antanacoins is licensed under CC BY-SA 2.0