The price of silver skyrocketed to $82.7 per ounce at early trading hours in Asia today. This precious metal briefly surpassed NVIDIA as the world's second-largest asset by market capitalization.
Silver’s rally pushed it past NVIDIA's market capitalization of $4.55 trillion. Not only that, although gold still maintains its position as the largest asset, silver has experienced a greater year-to-date (YTD) increase. Silver has risen 12% YTD compared to gold's 3.2% increase.
“It’s still early in Asia, and silver is already trading above $82.50,” wrote economist Peter Schiff in an X post on 07/01/2026. “This is likely silver’s best start to a year ever.”
Market observers believe that silver's strength comes from its dual role. Investors buy silver as a safe monetary asset, just like gold. On the other hand, it plays a critical role in various infrastructure developments, including electronics, solar panels, and vehicles.
The imbalance between the demand and supply of silver is what drives the price increase.
Silver’s rally has prompted cryptocurrency analysts to study Bitcoin's performance. Analyst Merlijn the Trader observed that silver formed a cup and handle pattern before its price skyrocketed.
In an X post on 06/01/2026, he explained that Bitcoin is forming the same pattern. “Bitcoin is quietly building a cup & handle on the weekly. Long base. Slow accumulation. Maximum boredom. Silver did this for years… then exploded.”
This means that there is a possibility for Bitcoin to skyrocket after completing its pattern, just as silver did.
Analyst Ash Crypto supports this. He points out that the prices of gold and silver both rose sharply after breaking out of their monthly accumulation zones. If the same breakout occurs with Bitcoin, this digital asset will experience a strong rally to catch up.
The market is also observing the potential rotation of capital from precious metals to Bitcoin. There is no confirmation when or if this shift will occur, but one thing is clear. The popularity and value of cryptocurrency continue to rise every day. Bitcoin, which is only a dozen or so years old, is already being compared to precious metals such as gold and silver, which have been hailed as investment instruments for hundreds of years.
For investors, cryptocurrency is a highly viable investment instrument to consider. Learn how to invest in cryptocurrency safely for beginners in the article How to Invest in Crypto Safely: A Complete Guide for Beginners.
