No, about 3.1T USD market cap in central bank gold reserves using an estimate of 36699 tonnes at 2597.07 USD per troy ounce and 32150.75 troy ounces per tonne.
Total gold market cap using an estimate of 271583 tonnes and same price and conversion would be about 23T USD.
I would take it as a strong "trade a substantial portion of your bitcoin for gold" signal if bitcoin reaches the same market cap as gold.