There are 5.5B ounces of gold in the world and 7.5B people, an average of 3/4 ounce per person @$1232 is worth $961.50. If gold’s market cap is 6,776B is divided by the total number of bitcoin ($6,776,000,000,000 / 16,600,000 Bitcoin = $408,192). One bitcoin would be worth $408,192.
Here’s another way to evaluate bitcoin: How much cash is there in the world? That is a complicated question which depends on your definition of cash. Low estimates start at five trillion. High estimates go from thirty-five to ninety trillion.
Cash, for our purposes, is the liquid money that you keep on hand to use for pleasure, maintenance, and emergencies. That would be all the money you have in the bank and under your mattress that is NOT stocks or bonds, gold, real estate or fine art. If bitcoin were to be the currency of choice, then one bitcoin will equal USD $5T / 16,600,000 Bitcoin (the total number in circulation) = $301,204. Remember, this is a low estimate of the amount of cash available.
The two numbers, $408,192 in gold and $301,204 in cash equivalencies respectively, are not all that far apart. There might be some truth to this valuation.