Shower thought. The question might not be IF Bitcoin surges and reaches parity against Gold's Total Market Valuation. The question probably should be how much more valued would Bitcoin be WHEN and AFTER it reaches parity against Gold's Total Market Valuation.
Bitcoin Total Market Valuation - $1.90 Trillion
Gold Total Market Valuation - $17.0 Trillion
👀
HODL
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.
Taking at a look on the market cap. of Gold, which is $17.0 trillion, and the market cap. of bitcoin as stated by @Wind_FURY to be $1.90 trillion, your mathematical calculations are wrong @Samlucky O, because your calculation of bitcoin price reaching $550k - $600k ONLY amounted to $11.5 trillion to $12.6 trillion as stated by you which is not anywhere close to Gold.
You are right about my answer being wrong and that was because I was using old market cap of 11.5 to 12trilion of Gold and using current bitcoin cap and failed to figure out that the new Market cap was already stated by @wind Fury in his comment to be 17trillion for gold and 1.9trilion for bitcoin Cap. Padon me, I later realise my mistake but with that being said I already stated that it was an example and of course you can make your own calculations to get the right answer since the formula has been provided. I already stated that the calculation could give approximately the figure expected. meaning it may not be exactly but you can formulate your own table or mathematics to get your own results provided you know what you are doing. In conclusion of correctingbthe mathematical error is just making bitcoin growth by 10x and above is enough to make bitcoin cap complete with gold.
My bone of contention is not about making any comparison between bitcoin or Gold because if we take a look at the time when Gold was introduced, and the time bitcoin was introduced you can see that the growth of bitcoin has outperform Gold just within 15 years of Bitcoin's invention, so if we are to have a picture of what bitcoin will become in respect to Gold by this time in the future you will understand that bitcoin will surely become the superior asset here.
Well If you check from my last comment you will see that we are saying almost thesame thing. Surely bitcoin is performing pretty well compeard to gold checking from the origination of gold vs bitcoin. Although I would not love to be repeating this compearisn as it is adding nothing instead it is becoming repetitive.