Peter Thiel at the Bitcoin 2022 conference made this comparison but didn't really provide his reasoning for doing so. Gold's closest competitor (silver) has virtually no chance of "ousting" gold's #1 ranking in the world's precious-metalsphere.
From a risk perspective, what if Bitcoin's closest competitor hasn't been invented yet? What if 100 years from now, someone points to this exact Reddit post (for karma farming purposes, obv) to get a sampling of people mentioning Bitcoin's future black swan event that nobody has any way of knowing about yet?
TL;DR: Why is the "potential market cap of bitcoin" sometimes compared to the market cap of gold? (nɒn ˈsɛkwɪtər; Latin for "it does not follow")
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