A new research report from SmallBusinessPrices.co.uk shows that the UK's gold reserves are worth less than 7 cryptocurrencies despite the Bank of England having the second biggest gold vaults in the world.
Other interesting findings include:
- The UK's own gold holdings are only worth $13B USD (£9.6B GBP) despite the fact that the Bank of England's vaults contain over £100B worth of gold bars.
- This means UK gold holdings are worth less than Bitcoin ($251B), Ripple ($146B), Ethereum ($95B), Bitcoin Cash ($41B), Cardano ($33B), NEM ($17B) or Stellar ($15B).
- The entire cryptocurrency industry market cap ($759 billion) is now worth more than twice as much the Federal Reserves gold holdings ($344 billion).
- Bitcoin is worth more than second place Germany's gold holdings.
- Ripple is worth more than the IMF's gold holdings.
- The entire cryptocurrency market is still worth only around 10% of the estimated value of all mined gold on earth ($7.5T USD).
You can read the full report here: https://smallbusinessprices.co.uk/cryptocurrency-v-gold/
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