CoinVoice recently learned that, according to a report by Decrypt, Singapore-based digital asset trading firm QCP Capital wrote in its Monday report that the price ratio of Bitcoin to gold has reached a new high, further solidifying Bitcoin's position as 'digital gold' and gradually positioning it as 'an increasingly favored store of value compared to traditional gold.'
Nevertheless, traders still prefer gold over Bitcoin during uncertain times. Bitcoin has gradually become more correlated with traditional markets to some extent, partly due to the approval of the US Bitcoin ETF in January of this year.
According to data from Coinglass, the global assets under management of Bitcoin ETFs have reached $119 billion. According to the World Gold Council, as of November 2024, the total assets of gold ETFs amount to $290 billion, roughly double that of Bitcoin ETF assets. [Original link]
