Since last night, gold has plummeted, wiping out 3.5 trillion in market value—about twice the total market capitalization of BTC.
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According to a report by Bijie Network: Bijie Network reports that a market value of 3.5 trillion is equivalent to: 1. The loss of a "France": According to IMF data (in USD), 3.5 trillion USD has already surpassed the full-year 2025 GDP levels of France, Italy, Russia, and Canada, reaching nearly 70% of Germany's, and is even 1.25 times the total economic output of the entire African continent in 2025. If this plunge in value is regarded as an "economy," its scale would rank 7th globally. 2. 5% of the US stock market: As of 2025, the total market capitalization of US-listed companies is about 69 trillion USD, and 3.5 trillion accounts for about 5% of that, which is equivalent to a large sector. In terms of individual company market value, 3.5 trillion USD is already higher than Microsoft's market cap, slightly lower than Apple's, ranking 4th. 3. The UK stock market is nearly "wiped out": According to CEIC data, as of December 2025, the total market capitalization of the UK stock market is about 4 trillion USD, and 3.5 trillion accounts for nearly 90% of that. 4. Top billionaires' wealth "wiped out": According to the Forbes Billionaires List, the combined wealth of the world's top 10 richest billionaires is about 2.6 trillion USD. The evaporated value of gold this time is about 35% higher than their total wealth, and more than four times that of the richest man Musk (about 76 billion USD).
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