Do you know how much gold has been mined since the beginning of humanity?
The World Gold Council has an estimation: roughly 197,567 tons.
If it already sounds like a lot, remember that gold, much like Superman, is almost indestructible, which means that every single ounce that was ever extracted from the ground is still out there. 💪🏻
But if we compressed this gold into a single cube, it would paint a different picture:
Gold uses: (1) Jewelry: 47.0% (2) Private investment: 21.6% (3) Official Holdings: 17.2% (4) Other: 14.2%.
As you can see, all this gold would only make a cube of less than 22 meters in sides.
Are we alone to think that this is quite a small cube for a 5,000 years old currency?