It's definitely impressive. I will be selling more silver next week if these prices hold. I fully expect silver will be sub $50 6-12 months from now. Not sure how high it will go but I am happy to sell more here and happy to sell my last ounces if it hits 120 or more.
I would rather own Bitcoin at current prices than silver. I cashed in some dividends from an old life insurance policy as well so I can buy more bitcoin.
Unfortunately my buys will be somewhat capped because my wife is really eager to move to a bigger place. I am hoping to hold her off until we get back from Texas in May but we will see. If I can't then definitely we will have a few months where I will need to keep a good cash buffer while we sort out the transition. Hopefully the terrible weather we are supposed to get in the next couple weeks will convince her a winter move is no bueno.
Most estimates show that there are about 4B ounces of "investment grade silver", but that maybe 12x that amount (50B ounces) has been mined thru history (most of it for industrial / jewelry use).
So it depends on what we are talking about, if just investment grade, then silvers market cap has gone up by $240B, if you include all silver than it went up 2.8T
Given that the current price is on investment grade, I think that implies the 4B ounce number....
Bitcoin is up 18000000% in the last 15 years.
Silver is up 43,6% in the last 3 weeks (impressive)
Bitcoin's market cap was 2.25M 15 years ago
Silver's market cap was 3.67T 3 weeks ago
This is a silly comparison.
I agree that it's a silly comparison, but bitcoin's market cap is about $1.8T and silver's is about $5.8T.
So, silver is up more than $2T in three weeks, which is unreal and I can't believe you convinced me to sell my silver a few weeks ago.
It's definitely impressive. I will be selling more silver next week if these prices hold. I fully expect silver will be sub $50 6-12 months from now. Not sure how high it will go but I am happy to sell more here and happy to sell my last ounces if it hits 120 or more.
I'm sure it'll come back down to Earth, as well, which means the market cap itself is way overstated.
I would rather own Bitcoin at current prices than silver. I cashed in some dividends from an old life insurance policy as well so I can buy more bitcoin.
Unfortunately my buys will be somewhat capped because my wife is really eager to move to a bigger place. I am hoping to hold her off until we get back from Texas in May but we will see. If I can't then definitely we will have a few months where I will need to keep a good cash buffer while we sort out the transition. Hopefully the terrible weather we are supposed to get in the next couple weeks will convince her a winter move is no bueno.
Isn't the post title simply false?
I think "it depends".
Most estimates show that there are about 4B ounces of "investment grade silver", but that maybe 12x that amount (50B ounces) has been mined thru history (most of it for industrial / jewelry use).
So it depends on what we are talking about, if just investment grade, then silvers market cap has gone up by $240B, if you include all silver than it went up 2.8T
Given that the current price is on investment grade, I think that implies the 4B ounce number....
Oh, they are referring to total market cap.
Seems a bit disingenuous, usually when we say "grown" in the context of assets we mean percentage terms.