Gold has not been money for decades. It is not worth anywhere near as much as it would be were it to reassert itself as the monetary standard for all countries.
However gold will not reassert itself as money. At best it will act as a safe haven for people to hide from bank fragility and inflation. It is bitcoin that will end up asserting itself as global money as fiat collapses and all countries enter a global sovereign debt crisis.
Gold is worth $12 trillion currently and could double to $25 trillion if used as a safe haven. But if gold is nothing but a safe haven and bitcoin asserts itself as actual global money then bitcoin should be worth many multiples of gold. Conservatively lets say bitcoin should be worth double gold when gold is worth $25 trillion.
That puts bitcoin at a $50 trillion market cap just for it to reach fair value during a period of financial crisis and sovereign debt crisis. So lets say today before this financial crisis hits it should be no cheaper than 1/10th of its fair value of $50 trillion (ie $240k per btc).
So bitcoins fair value before a financial crisis should realistically be $240k per btc and in the midst of a financial crisis and global sovereign debt crisis it should be worth $2.4m per btc.
If we are entering a financial crisis and are at the beginning of a global sovereign debt crisis then bitcoin has to rise 85x just to reach fair value.
Bitcoin is ridiculously undervalued!
submitted by /u/slvbtc