#比特币与黄金战争 The Truth About Hard Currency: Why Are Institutions Quietly Shifting?

Recently, I looked at a set of data that was quite shocking.

The total global market value of gold is only around 30 trillion. To put that into perspective? China's real estate market, during its most booming years, reached a market value of over 300 trillion. In other words, all the gold mined in the world isn't even enough to match a single country's real estate market value.

What's interesting about this comparison? It's not just the numbers themselves.

Real estate has a lifecycle—whether it's 50 years or 70 years of property rights, eventually it faces depreciation and aging. Gold? What it was a thousand years ago, it still is today. One has an expiration date, the other never expires.

What is the underlying logic reflected here?

Over the past twenty years, real estate investment has essentially been betting on a country's growth story. Beijing and Shanghai's housing prices increased 50 times over 30 years—that's the result of national development dividends. Now? If we shift to a more modest market cap, more liquid, globally covering hard currency—gold—it no longer represents just a single country's story, but a worldwide recognition of value. How can we measure this potential?

Let's look at a practical detail: 99% of gold reserves are still in the Earth's crust and haven't been mined yet. The amount that can be mined is limited, and the costs are rising year after year.

So, the current situation looks like this—big institutions are quietly accumulating, small retail investors are oscillating around K-line charts, but deep down, they’re nervous.

I won't jump to conclusions, but just present these facts:

Something that never depreciates, is extremely scarce, recognized globally for its value, and has a relatively small market cap—when real big money starts to enter and stir the pot, what will happen? This question might be more worth pondering than you think.

By the way, if you're interested in crypto asset allocation, this logic applies equally—scarcity, global consensus, long-term value storage—these are always the core criteria for smart money.