According to Altcoin Daily, BTC should be valued at least one-third of gold’s total market capitalization, which the author says implies roughly a 4x upside from here. source: Altcoin Daily on X Oct 14, 2025 To benchmark the claim, traders can estimate gold’s aggregate value using the World Gold Council’s above-ground stock data and the LBMA gold price to translate tonnage into market capitalization. source: World Gold Council Gold facts and above-ground stocks; LBMA Gold Price USD One-third of that gold valuation can then be compared to Bitcoin’s live market capitalization from TradingView, with an implied per-coin target derived by dividing by circulating supply reported by institutional data providers such as Glassnode. source: TradingView market capitalization; Glassnode circulating supply Key catalysts to monitor for convergence or divergence include the BTC/XAU ratio, net creations and redemptions in U.S. spot BTC ETFs enabled since January 2024, and movements in real yields that historically influence gold demand. source: TradingView BTC/XAU; U.S. SEC orders approving spot Bitcoin ETFs Jan 2024; World Gold Council research on gold and real rates; Federal Reserve FRED TIPS yield series