Bitcoin Is Still Tiny vs Global Money — Potential for Large Upside

I argue that Bitcoin remains very small relative to the global financial system: BTC market cap is about $2.4T, total crypto ~$4T (≈3% of fiat money), while gold is $22.7T and broad fiat measures exceed $86T–$113T.

If Bitcoin’s market cap matched gold, price would be roughly 10x higher, and ongoing ETF-driven institutional flows (billions weekly) show how quickly valuation can change. It’s important to remember market cap = price × supply, so large inflows would magnify price.

Despite clear progress, crypto still occupies only a sliver of global liquidity — which I see as asymmetric upside potential, but not without volatility and macro risks.