Silver surged to $82.7 per ounce at the start of the Asian session, nearing its recent all-time high (ATH). This precious metal briefly surpassed Nvidia in market capitalization, becoming the world's second-largest asset.
This move is attracting significant attention from global financial markets. Analysts are increasingly comparing silver and Bitcoin. Some forecast that cryptocurrencies could show a similar surge.
Precious metal rally, silver market cap surpasses tech giants
After a slight correction from its previous all-time high, silver has risen above $80 per ounce and reached $82.70 today. This rally has pushed silver's market capitalization past Nvidia's $455 billion.
As of the reporting date, silver is trading at $80.80. It has risen by about 12% this year, outpacing gold, which has increased by approximately 3.2% so far in 2026.
"This year might be silver's best start ever." – Economist Peter Schiff
Silver's strength is not a recent phenomenon. In 2025, silver rose even more than gold, gaining about 176% annually, far surpassing gold's 70.3% increase.
Market experts are finding silver's strength in its dual role. Investors are buying silver like gold, as both a currency and a safe-haven asset.
Additionally, silver plays a key role in industrial demand. It is heavily used in electronics, solar panels, AI hardware, and electric vehicles. BitInCrypto recently emphasized that industrial demand now accounts for about half of global silver consumption.
"The most interesting metal today is silver. It's being bought for monetary purposes by investors, while industrial demand from electronics, solar panels, artificial intelligence, and electric vehicles is also strengthening." – Wall Street Mav
According to analysts, ongoing supply-demand imbalances have driven silver's price surge. The Silver Institute reported that the global silver market recorded a structural deficit for five consecutive years in 2025. Annual demand is about 1.2 billion ounces, while mining and recycling supply only about 1 billion ounces.
This structural supply shortage has supported the upward trend. Many market participants forecast that silver prices could reach triple digits by 2026.
"The likelihood of silver breaking $100 in January has definitely increased." – Analyst Sunil Reddy
However, when demand consistently exceeds supply, prices typically rise until a 'demand destruction' phenomenon occurs, where consumption declines. In the case of silver, if prices rise too sharply, some industrial uses may lose economic viability.
"So silver prices must rise until demand destruction appears. But nobody knows exactly how high that level will be. According to estimates I've seen, once silver reaches $135 per ounce, most solar panel manufacturers would be operating at a loss. We'll have to watch how this unfolds." – Wall Street Mav
Bitcoin analysts see similarities with silver
After silver's record-breaking rally, many cryptocurrency market analysts have been closely watching the Bitcoin chart. Merlijn The Trader explained that silver has finally broken through its all-time high after years of forming a 'cup-and-handle' pattern.
According to the article, Bitcoin is quietly forming a similar structure on the weekly chart. If this structure completes, it suggests Bitcoin could also make a strong upward breakout, just like silver.
"Bitcoin is quietly forming a cup-and-handle pattern on the weekly chart—long base, slow accumulation, maximum boredom. Silver took years to complete this pattern, then surged dramatically. Once this pattern is complete, prolonged, gentle corrections are rare." – The Analyst
Analyst Crypto Rover added that both gold and silver surged after breaking through their monthly accumulation phases. In his view, Bitcoin has not yet confirmed a similar breakout, but if it does, a strong catch-up rally could follow.
Market participants are also watching for the possibility of capital shifting from precious metals to Bitcoin. Exactly when and how this shift will unfold remains undetermined.