No, market cap is determined by liquidity in a marketplace. So if there is a pebble market, you can make a claim as to the size of that market. Gold happens to be a very shiny pebble that has a $10T plus market cap. That figure is based on a guess of how many ounces of gold there are in circulation (not including not-as-of-yet mined gold buried in Earth's crust) multiplied by spot price.
Agreed you can't invest marketcap. But could you attract $6.8B worth of economic activity into a country based on recognizing a new asset class and encouraging the development of that asset class in the country? I would argue that yes, yes you could.
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No, market cap is determined by liquidity in a marketplace. So if there is a pebble market, you can make a claim as to the size of that market. Gold happens to be a very shiny pebble that has a $10T plus market cap. That figure is based on a guess of how many ounces of gold there are in circulation (not including not-as-of-yet mined gold buried in Earth's crust) multiplied by spot price.
Agreed you can't invest marketcap. But could you attract $6.8B worth of economic activity into a country based on recognizing a new asset class and encouraging the development of that asset class in the country? I would argue that yes, yes you could.