BITCOIN (BTC) CROSSES $107,700 TO SET ALL-TIME HIGH AGAINST GOLD
Bitcoin rose to a new all-time high of $107,733 during early Asian trading on Monday. This happened amid a surge in trading activity. The rally pushed the BTC-to-gold ratio to a peak of 40 gold ounces per coin.
This ratio compares the price of one Bitcoin to the price of gold, expressed in ounces. It measures how much one coin is worth in relation to a certain amount of gold. This gives an idea of the relative value of Bitcoin to the classic store of value.
As the ratio rises, Bitcoin becomes more valuable compared to gold. This indicates that investors are gaining confidence in Bitcoin as an asset.