AsianFin -- Gold has solidified its position as the world's largest asset by market capitalization, reaching a total value of $20.13 trillion amid record-high prices, according to data from CompaniesMarketCap.

This figure is more than six times the market cap of Apple (AAPL.US), which stands at $3.149 trillion and ranks second. Compared to March last year, gold's market cap has surged by approximately $6 trillion.

Silver, following gold's upward trend, has seen its total market capitalization approach $2 trillion, securing the seventh spot and slightly surpassing the market cap of oil giant Saudi Aramco.

Meanwhile, Bitcoin has experienced a significant decline, dropping to the ninth position globally by market cap. The cryptocurrency's price has fallen more than $27,000 from its peak, attributed to the cooling of the so-called "Trump trade." Last year, Bitcoin briefly overtook silver to become the world's eighth-largest asset.

In July 2023, former U.S. President Donald Trump speculated that Bitcoin's market cap could eventually surpass that of gold. However, the recent downturn has cast doubt on such predictions, as Bitcoin continues to face volatility and shifting market dynamics.

The contrasting performances of gold and Bitcoin highlight the ongoing divergence between traditional safe-haven assets and cryptocurrencies in the global financial landscape.