That's a great question. I looked it up, and currently, there are two companies similar to $MSTR in the gold sector, either in the U.S. stock market or as ETFs. One is Barrick Gold Corporation (ticker: GOLD), which is one of the world's largest gold producers and has significant gold reserves (including proven but undeveloped gold).
The market value of this company is $31.7 billion. It has approximately 77 million ounces (about 2,395 tons) of proven and probable gold reserves, with each ounce of gold valued at around $2,627, totaling about $20.22 billion. This company is somewhat similar to $MARA in the crypto space.
Another ETF is the SPDR Gold Trust (SPDR Gold Trust, ticker: GLD), which currently holds approximately 875.39 tons of gold, equivalent to about $72 billion in assets, and GLD's market value is also around $72 billion, with a long-term premium hovering around 1%.
Of course, comparing gold to #BTC is not very appropriate, as the purchasing and trading avenues for gold in various countries far exceed those for #Bitcoin. The value of gold is influenced by many factors, making it difficult for a single company or a few companies, or even a country, to control it, whereas BTC is different. Overall, I personally believe that some premium is normal; it's just a matter of how much premium, as gold has historically experienced premiums exceeding 30% with ETFs.
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