Bitcoin reaches record high vs gold: what does it mean for BTC?
Bitcoin has quietly reached a new all-time high (ATH) versus gold amid its unprecedented market activity. In an X post, renowned trader Peter Brandt emphasized the discovery.
Bitcoin's New ATH Against Gold: Room for Growth?
Brandt found that the BTC-to-gold ratio had hit a fresh high of 32.19 ounces per BTC. The veteran trader also subtly mocked Bitcoin skeptic Peter Schiff in his tweet.
The BTC-to-gold ratio compares Bitcoin to gold, indicating how many ounces of gold will buy one BTC. This indicator shows Bitcoin's expanding value store dominance.
Brandt said that Bitcoin's next aim is 89 ounces of gold per BTC, implying tremendous growth potential. This fits the crypto industry's thesis that Bitcoin will threaten gold's $15 trillion market valuation.
Brandt projected Bitcoin will outperform gold 400% by 2025. His October prediction was that BTC may reach 123 ounces of gold based on past market trends.
Bernstein predicts that Bitcoin will replace gold as the favored safe-haven asset within 10 years.
Early Bitcoin enthusiast Eric Voorhees predicted a similar outcome. The CEO of ShapeShift crypto exchange said that BTC's digitally-programmed supply scarcity would raise its price, unlike gold or oil.
In two years, Bitcoin-based ETFs might exceed gold ETFs in total assets under management, according to ETF Store President Nate Geraci. SoSoValue data shows total net inflows into all spot BTC ETFs at $35.6 billion, compared to $55 billion for gold ETFs.
Potential BTC Strategic Reserve Implications
BTC exceeding $100,000 has sparked discussion about President-elect Donald Trump's digital asset policy. Industry insiders expect Trump to push Bitcoin adoption early in his second term, raising BTC's price.
Speculation of a US strategic Bitcoin reserve boosts hope. Prominent financiers believe China and other countries would follow suit to stay competitive if the US created such a reserve. BTC is up 3.7% in 24 hours to $106,909 at press time.
