Bitcoin's market capitalization is approximately $1.4 trillion, still significantly below gold's $36 trillion, which means the price of Bitcoin needs to surge to nearly $1.9 million per coin to match it. Of the 21 million Bitcoin supply, 95% has already been mined, and after the halving in 2028, the rate of new coin issuance will slow down, with its scarcity enforced by protocol. Currently, institutional buyers—including spot Bitcoin ETFs, corporate bonds, and governments—hold a total of 14.6% of the total Bitcoin supply. They are continuously accumulating and holding, creating a potential path for Bitcoin to reach a value comparable to gold by the mid-2030s.