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$45,000 Bitcoin looks cheap when compared to gold’s marketcap -Breaking

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© Reuters

(BTCAlthough a double-digit increase in value was achieved by ), the digital asset is struggling to overcome the $45,000 resistance. Because it was easily broken multiple times, this level doesn’t hold historical significance. This is also true for Bitcoin’s $850 Billion capitalization. It’s not even close to silver (NASDAQ.) or Google (NASDAQ.)’s $1.7 Trillion market values.

Bitcoin’s market capital is frequently compared with gold. This is a global leader in value solutions and currently holds a total of $12.3 trillion. The reason for the $45,000 resistance could be found in the comparison between BTC and gold by institutional investors. If you look at assets under management of institutional investors funds and the daily trading volume it’s possible to conclude that Bitcoin is a legitimate 93% discount on market capitalization.

The most valuable global tradable assets Source: 8marketcap.com
Amount of 30-day volumes on March 2, USD Source: Nomics
Dollar billion daily average trading volume Source: gold.org
Bitcoin investment vehicles that are listed, total USD Source: Funds, Bloomberg, ETF.com