According to Odaily Planet Daily, Singapore digital asset trading company QCP Capital wrote in a report on Monday that the price ratio of Bitcoin to gold has reached a new high, further consolidating Bitcoin's position as "digital gold" and gradually positioning it as "an increasingly popular means of storing value compared to traditional gold."
Still, traders are choosing gold over Bitcoin in times of uncertainty. Bitcoin has become more relevant to traditional markets, thanks in part to the approval of a U.S. Bitcoin ETF in January. According to Coinglass, assets under management for Bitcoin ETFs globally have reached $119 billion. According to the World Gold Council, as of November 2024, gold ETFs will have total assets of $290 billion, about double the assets of Bitcoin ETFs.
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QCP Capital: Bitcoin has become a more popular store of value
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