Everyone is discussing which type of asset has the most serious bubble, and it is quite surprising that this title does not belong to Bitcoin. We can take a look at the production costs of various assets compared to the current market prices to explore this further.

First, let's look at Bitcoin, whose current mining cost is approximately $56,000, while the market trading price is around $88,000. Compared to each other, the premium multiple is only 1.6 times.

Next, we look at the crude oil market, where international oil prices are currently maintained at about $62 per barrel. In contrast, the extraction cost in the United States is about $28 per barrel, while in the Middle East it is about $15. Calculating this, the difference between its selling price and cost is between 2.2 times and 3.5 times.

The premium in the precious metals sector is even more obvious. Taking gold as an example, the extraction cost per ounce is about $1,500, but the international market price has reached about $5,100, showing a difference of 3.4 times.

The biggest difference is with silver, whose extraction cost is about $20 per ounce, but the international market quote is as high as about $100, resulting in a multiple difference of up to 5 times.