Since its launch in 2009, Bitcoin has continued to garner significant interest. Over the years, the coin has been described as the “digital gold” in any investment portfolio. While questions about the coin’s stability have been raised, a more prominent question is the possibility of $BTC flipping Gold’s market capitalization.
Now that $BTC is heading towards another halving, crypto enthusiasts are positive that Bitcoin will flip Gold’s market cap. For the more conservative crypto investors who believe $BTC’s price projections and volume are still quite shaky, their attention has shifted to more viable memecoins like $GFOX and its intriguing price potential.
Gold’s Current Market Value and Trend
Gold is currently worth $2,030 per ounce, which is about 0.1% increase in its January price. Over the last year, gold had its highest price peak at $2,079 and its lowest price dip at $1,991. While some investors may consider this a tricky price trend, gold is generally one of the safest assets in the financial market.
Gold is known to retain or appreciate in value during market downturns. The asset is a notable diversification tool in any investment portfolio as it offers protection against the varying returns of different assets. Between 2019 and 2024, gold appreciated by over 35%.
Several economists and financial commentators suggest that gold has been an effective inflation hedge over many decades. Hence, the inflation-adjusted price of gold over a short period of time is highly volatile, making the asset a poor near-term hedge for inflation.
With such a term as an inflation hedge, crypto enthusiasts have speculated that Bitcoin will outperform gold’s current market cap of $13.695 trillion. These enthusiasts believe that Bitcoin is a better alternative because of its utility and investment potential. They also opine that Bitcoin global acceptance will increase with more adoption by stores, companies, and even governments.
Will BTC Flip Gold’s Market Cap?
The comparison between Bitcoin and gold started at Bitcoin’s inception. The creator of the popular cryptocurrency, Satoshi, mentioned gold’s scarcity in a forum post as an introduction to the creation of Bitcoin back in 2009. According to the creator, gold’s scarcity inspired the creation of a limited supply of 21 million bitcoins.
Following Bitcoin’s price surge in 2013 and the increase in total Bitcoins mined, the coin’s market cap has soared from about $1 billion in 2013 to over $1 trillion in 2024. No doubt Bitcoin has had an impressive run in the last decade, despite the price dips in 2022; however, even at its peak of $1 trillion in 2021, Bitcoin still had a considerable distance to cover to surpass gold’s market cap.
Despite obvious data, crypto enthusiasts are confident that things will change after the Bitcoin halving. They believe that since the SEC’s approval of the spot ETF increased $BTC’s price, the halving will propel the coin further to match gold’s market cap. Since $BTC’s halving is projected to occur in May 2024, some enthusiasts have speculated that the coin’s market cap will become 10x its current value. Other enthusiasts argue that Bitcoin isn’t ready to rival gold until another cycle or two.
Market analysts have adopted a more conservative approach to this comparison. Many analysts have stated that Bitcoin’s current market cap of $1 trillion is no match for gold at $13 trillion. They propose that Bitcoin has an untested nature compared to gold, which has been around for centuries. They also mention that Bitcoin’s stability and reliability as an investment option, particularly in economic downturns, remain uncertain. Hence, there is a need for investors to find more reliable cryptocurrencies.
$GFOX Leads with Top Price Predictions
While Bitcoin remains the number one market maker, a new coin, $GFOX, is shadowing its impact in the memecoin sphere. This new token has captivated investors and enthusiasts with its thrilling games, innovative DeFi applications, and NFT assets.
Galaxy Fox affords game lovers an entertaining play-to-earn (P2E) experience within an NFT-based endless runner game. Early adopters already have a taste of the potential, with the ongoing presale offering an impressive ROI for early investors.
$GFOX also champions a deflationary model, strategically burning tokens and utilizing transaction taxes to fuel staking pools, liquidity pools, and a future-focused treasury. This clever approach ensures the ecosystem’s long-term sustainability and growth.
The presale is currently at Stage 8, offering GFOX tokens at a very affordable price of $0.002178 per token. This is the perfect opportunity to grab your piece of this exciting project before the next stage kicks in.
With its impressive offerings and utility features, GFOX is poised to be one of the most popular coins in 2024. With its increasing popularity, the coin’s listing on DEX will put it at the top of the memecoin league.
Final Thoughts
The debate around $BTC surpassing gold’s market cap has intensified because of Bitcoin’s halving and growing cryptocurrency adoption. While enthusiasts remain optimistic, market analysts warn investors to be wary of Bitcoin’s volatility and untested nature.
Meanwhile, memecoins like $GFOX have emerged as intriguing alternatives. The token’s play-to-earn bonus, DeFi integration, and NFT features have put it ahead of its pack. Now is the best time to buy GFOX.
Learn more about $GFOX here:
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