Bollcoin reported on October 20 that the World Gold Council released its "Digital Gold Market Opportunity Report." The report shows that the digital gold market currently stands at $45–55 billion. Digital gold converts trusted physical gold into tradable digital "standard gold units," used to support a range of products and services including tokenization, vaulted gold and collateral, without being limited by the attributes of physical gold bars or their storage locations. The report's five-year base-case scenario forecasts that the digital gold market will grow at a compound annual rate of about 27%, reaching $160–170 billion by 2031. The report notes that the physical gold investment market is worth about $13 trillion, but digital gold—including vaulted digital gold and tokenized gold—currently accounts for less than 1% of the global physical gold market.