Bitcoin's market capitalization is nearly 7% that of gold, according to one estimate

Bitcoin's price jump has inched its market capitalization closer to that of gold — some 6.8% as of January 8, according to data collected by The Block Research.

To be sure, the best-guess market cap of all mined gold — an estimated $10.6 trillion, per Gold.org (GoldHub) — dwarfs the market capitalization of bitcoin, which as of press time sits just below $708 billion.

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To be sure, the estimate for gold's collective market cap is just that, with some variance between metrics. But GoldHub's figures offer a window into that collective value — albeit one that isn't as straightforward to calculate as the market cap for bitcoin.