Bitcoin and Ethereum Close to Overtaking Silver’s Market Cap

Agora Silver Bitcoin Specie

Bitcoin and ethereum combined are fairly close to overtaking the market cap of the second biggest monetary commodity, silver. Bitcoin’s market cap currently stands at $1,095 billion, while ethereum is at just $240 billion, making it a combined circa $1.33 trillion. There are currently 1,740,000 metric tons of silver discovered to date according to the United States Geological Survey. At $813.41 per kilo, times 1,740 million kilos, makes it a total market cap of about $1.4 trillion for silver. Bitcoin and eth combined thus get to be the first asset in the world to overtake a millennials old commodity money. Bitcoin by itself needs to increase by another $300 billion in market cap, or some 27%, to overtake silver. That would bring it to a price of circa $74,000 per coin, something that may well be the next resistance line if it manages to overtake $60,000. Bitcoiners however are eyeing…

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