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Silver spot price tops $110 per ounce, market cap $6.149 trillion; Bitcoin at 28% as silver becomes No. 2 global asset

Silver's spot price climbed above $110 per ounce on January 26 and lifted market capitalization to $6.149 trillion, while Bitcoin declined 14% to $1.754 trillion, BlockBeats reported. The figure reflects a 257% year-on-year increase, making silver the second-largest major asset globally by value and valued at 3.5 times Bitcoin's size. Six months ago Bitcoin's market cap was still ahead of silver before silver overtook it on September 1 during a price pullback when Bitcoin was about $2.183 trillion. Some views cited in the report say gains in silver and other precious metals reflect a short squeeze and that, if prices reverse, capital could rotate into Bitcoin and Ethereum.
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