40 sats \ 3 replies \ @Undisciplined 20 Oct \ on: Do you think oil could become a more valuable asset than gold in the future? AskSN
How are we judging this? Total market size or unit price?
Gold is going to lose its monetary premium to bitcoin eventually, which will reduce it's value by something like 90%. It will still have a higher price per ounce than oil, but the total market cap might be lower.
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That would be a huge change. I suspect gold will always be over $100 an ounce, because it is incredibly useful. Maybe it'll go lower if Elon manages to tap one of those asteroids that are almost pure gold.
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That's a good point. And I agree.
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