Going through your coment I found out a thread created in regards to this Which says
When will Bitcoin catch up with Gold in capitalization?But nevertheless after a deep thought I discover that the market capitalisation of bitcoin to equate with gold is easy using the formula
Price of coin × total supply = market cap for example if 1
BTC @$96000 × 21m supply of bitcoin= $2.16trillion meaning that for bitcoin to compete with gold Market cap it must surely be 1
BTC @$550 - 600k × 21million= 11.5Tr to 12.6Tr. so surely it is easy to determine by this formula even though it might not give the exact figure but must be approximately. So when you think of bitcoin cap to compete gold think of 6x to 7x of bitcoin growth from now.
Your calculations are correct but it will take more than that for Bitcoin to surpass Gold. This is because we know that it will take two or more cycle for Bitcoin to get to $550k or $600k and within these years Gold will not just sit at one point without increases. Only this year, 1 ounce of Gold moved from $2,150 to $2,600. Although Marketcap isnt a big deal to me. An increase in the market cap does not mean equal amount of money was put into the asset. Bitcoin marketcap if Gold and Bitcoin has similar marketcap the value of Bitcoin would be far way worth more than Gold.