Lots of hyperbole lately in the Bitcoin related news outlets on mining gold from Asteroid Psyche 16. An estimated value of $700 Quintillion (18 zeros) would be available on this asteroid in precious metals, amongst others Gold!

But let's stay with both feet on the ground for the moment.

The most precious metal on Earth is, without a doubt, Gold. The current stock of gold, or all the gold mined ever, is about 200.000 tonnes. Yearly, this stock is supplemented by a flow of about 3.000 tonnes, leading to a current Stock to Flow ratio of 63. This is the highest S2F ratio of all materials.

Now, let's get some gold from asteroid Psyche 16. As a benchmark, let's look at the $150M Japanese Hayabusa2 probe that is actually bringing back a sample from the asteroid Ryugu as we speak.  FIlling up its 1 liter sample container with pure gold would have a value of about $1M. As such, the ROI of bringing back gold from an Asteroid, using the Hayabusa2 numbers, will need a gold price to multiply by 150 before any investor would be interested in pursuing this.... Of course, we could bring the $150M cost figure down by using a SpaceX falcon 9 launcher and optimizing the Hayabusa2 spacecraft for pure Asteroid mining. But no, it would be unrealistic to think about bringing the cost of such a mission down to $15M. For the golddiggers out there, I suggest to stick to finding gold in the Earth's crust. But even better advice: Bitcoin will, by definition of its fixed amount of 21M BTC that can ultimately be mined, be nearing the famous stock to flow ratio of gold by the next upcoming halving. So: drop your gold and Buy Bitcoin!