Above ground silver should be at least 800.000 to 1mn tons - with annual production at 25000 tons... (gold above ground supplies are at ~190.000 tons)... so this should place the value of above ground silver at around 400-500bn USD.
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No my friend. At 3 billion ounces we are at 85k tonnes. A bit north of $45b market cap.
My source: https://www.jmbullion.com/investing-guide/types-physical-metals/how-much-fine-silver-bullion-in-world/
Happy for you to challenge my reference and provide your own source for me to review. In the above case the silver MC is embarrassingly small relative to crypto total MC of nearly 500billion
The number is argued to be anywhere from 2 to 3 billion above ground oz of investment grade silver. I used 2 billion in my post since there's been a silver defict in mining vs consumption for many years lately. Regardless, yea, the crypto market cap is stupidly high compared to silver market cap right now.