Gold has a lot of applications besides wealth accumulation, electronics and jewelry together makes almost 2/3 of demand [1] [1] https://www.statista.com/statis

Gold has a lot of applications besides wealth accumulation, electronics and jewelry together makes almost 2/3 of demand [1] [1] https://www.statista.com/statistics/299609/gold-demand-by-industry-sector-share/ https://www.statista.com/statistics/299609/gold-demand-by-in... Drying machines makes life of a lots and lots of people more comfortable. Hundreds of millions is my lower estimation, maybe even billions (if we include industrial dryers used in textile and clothes-making). Useful segment (eg except speculation and illegal activities) of Bitcoin operation is consumed by millions of people tops, two or three orders of magnitude less. And I never heard about using dryers for drug trade.