Bitcoin buys more gold than ever with one ounce now costing under 0.035 BTC

Bitcoin buys more gold than ever with one ounce now costing under 0.035 BTC


Bitcoin (BTC) is now worth more in gold than at any time in its history as the largest cryptocurrency passes $50,000.

Data noted by markets commentator Holger Zschaepitz on Feb. 17 confirms that one ounce of gold now buys just 0.0352 BTC.

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Since hitting new all-time highs on Wednesday, the price of gold in Bitcoin terms became even cheaper, with one ounce costing $1,794 or 0.0349 BTC at the time of writing.

“Bitcoin is eating gold in one chart!” Zschaepitz declared in comments.

Gold priced in Bitcoin. Source: Holger Zschaepitz/ Twitter/ Bloomberg

Responding, analytics account Ecoinometrics added that gold’s underperformance versus Bitcoin simply increases if longer timeframes are taken into account.

Bitcoin’s one-year risk-adjusted returns had topped 270%, compared to 24% for gold as of Dec. 28, 2020. Four-year returns contain an even starker contrast, with 2,675% versus 64% for Bitcoin and gold, respectively. 

“When looking at Bitcoin vs. gold don’t zoom out too much

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