Bitcoin is striving to surpass gold, requiring a significant increase in value. Currently, bitcoin needs to reach $96,000 to exceed silver’s market cap and an astounding $910,000 to surpass gold. The dynamics of bitcoin's supply are clear; we know the total number of bitcoins mined and where they are stored on-chain, unlike gold and silver, whose availability is ambiguous. An estimated 20% of bitcoin, amounting to 3.7 million coins, may be lost forever, valued at approximately $318 billion. The total mined gold is valued at around $18 trillion, which makes it essential to clarify how much of that is accessible. Currently, bitcoin’s market cap is around $1.8 trillion, still below both gold and silver. For bitcoin to achieve its goal of flipping both assets, a significant 10x increase is crucial, positioning it firmly in the market and challenging traditional stores of value.

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