ChainCatcher reported that according to Decrypt, 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, as the cryptocurrency has become more correlated with traditional markets, thanks in part to the approval of a U.S. Bitcoin ETF in January.
According to data from Coinglass, the global assets under management for Bitcoin ETFs have reached 119 billion USD. According to data from the World Gold Council, as of November 2024, the total assets of gold ETFs amount to 290 billion USD, which is approximately twice the assets of Bitcoin ETFs.
