Gold Price vs. Bitcoin Market Cap, 2009–2026

About this chart

The line is the price of gold per troy ounce, drawn month by month from January 2009. The sphere at its tip is bitcoin's market capitalization that month; its area is proportional to market cap, so a sphere with twice the area is twice the market cap. The animation takes twenty seconds, holds on the latest month, and loops. The scrubber pauses on any month, and the sphere scaling can be changed in the controls.

Method

Gold is US dollars per troy ounce at month end: 2009–2024 from historical London fix and spot records, 2025 onward from published monthly closes. Bitcoin market cap is month-end price multiplied by coins mined to that date; price from Coin Metrics community data through spring 2026 and from published monthly closes after that. The last month is month to date.

Data sources

• LBMA gold price / published monthly closes
• Coin Metrics community data (bitcoin price, supply)

Updated September 2026

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