Bitcoin’s record-breaking marshal is continuing into the new year with the bitcoin to gold exchange rate touching a new all-time high of 17.38 ounces per bitcoin. According to text from Marketwatch, the new high easily surpasses the all-time high recorded on January 01, 2021, of 10.74 ounces per coin. The new milestone sink in fare as the digital set a new all-time of over $33k.
The new record means it takes about 7 more ounces of gold or an equivalent of $13,855 for one to get a enormously BTC now than they did on January 1, 2017. Furthermore, the data shows that between December 1st and January 1, 2021, this disagreement rate moved up by nearly 50% from 10.52 to 15.41 in favour of the digital asset. During the same years, gold remained almost static, gaining just 4.3% from 1811.51 to $1898.60 per ounce.
From everywhere the start of the last quarter of 2020, when Square Inc and Microstrategy kicked off the institutional investor embrace of bitcoin, the digital asset’s bonus has 200%. According to markets.Bitcoin.com data, BTC surged from $10,576 on October 1 to over $33,099 on the second day of the new year.
For the moment, as institutional investor interest in BTC continues to rise, many bitcoiners and non-bitcoiners predict the current price rally to face. For instance, Boris Schlossberg, the managing director at BK Asset Management, thinks BTC will set more records in the future.
Act as agent for c demand in an interview recently, Schlossberg, who argues that “neither bitcoin nor gold has intrinsic value,” says BTC is now a more sought-after store of value than the precious metal because it’s “portable.” Schlossberg predicts that BTC value will pursue to surge and he suggests it may even get to $200,000 and thereafter interest might dissipate.
Do you think BTC will continue to outperform gold? You can aver us your views in the comments section below.
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