Gold nearly adds Bitcoin’s entire market cap in a single day

Gold is now also outperforming Bitcoin over the last five years, having risen 173%, while Bitcoin is up only 164% over the same period.

Bitcoin traded down on Wednesday as gold rallied 4.4% over 24 hours, adding a massive $1.65 trillion to its market cap in a single day. 

Gold breached $5,500, bringing it to a new all-time high, while its total market cap rose to $38.77 trillion, with the single-day increase nearly matching Bitcoin’s (BTC) $1.75 trillion market cap, Infinite Market Cap data shows.

Silver is on a tear too, having rallied 21.5% over the last week to a $6.6 trillion market cap, further expanding its lead on Nvidia — the largest publicly traded company — in the process.

Read more