Bitcoin is now worth more than a 20 ounce gold bar
As Bitcoin price topped $40,000 it became more valuable than a 20oz block of gold. Bitcoin’s meteoric price rise is showing no signs of slowing down and its latest all-time high has priced the asset higher than a 20 ounce gold bar.Over the past six hours, Bitcoin prices topped $40,000 briefly according to Tradingview.com. The move has added a further 5% over the past 24 hours and the rally is showing no signs of cooling down yet.Industry observers often call Bitcoin "digital gold" as it is a store of value asset, and this latest price peak pushed prices higher than those for the standard....
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On Tuesday, the price of gold soared to new heights as an ounce of the precious metal surpassed $2K per ounce during the early morning trading sessions (EST). Hours later, gold tapped a high of $2,064.27 per ounce as the Russia-Ukraine war and global commodities surge has fueled demand.
Gold’s Value Surges Higher Amid Commodities Boom
Gold is exchanging hands for prices not seen since August 2020, as the Russia-Ukraine war has caused a significant demand for barrels of oil, commodities, energy stocks, and precious metals. During the last 24 hours, an ounce of .999 fine....
15 months ago the price of one ounce of fine gold was $1,790 per ounce and since then, it has increased in value 3.51% to today’s $1,853 per ounce exchange rate. While gold has risen in value, the top two tokenized gold coins have grown significantly since then. Pax gold (PAXG), for instance, has seen its market capitalization grow 407% since February 26, 2021, and Tether’s XAUT market valuation swelled by 248% since that day. Presently, PAXG’s and XAUT’s market capitalizations combined equate to just over $1 billion in value.
Pax Gold
Today,....
The price of an ounce of gold dropped dramatically this week, slipping under the $1,700 handle to $1,688 per ounce on August 8. On Monday, gold regained some of the losses jumping 2.36% back above the $1.7K region to $1,727 per ounce of fine gold. Gold’s Volatile Movements This Weekend Blamed on a Number of Elements While bitcoin (BTC) prices are up more than 4% on Monday and over 16% during the last week, the value of gold has been dropping lower in fiat value. On August 6, 2021, the price of gold per ounce was trading for just over $1,800 per unit and slid to $1,688 per unit two....
Bitcoin exceeded the price of gold on Mt. Gox this morning, an event bitcoin advocates say is symbolic for the virtual currency. The price has since dipped, and at the time of writing is trading at $1,146 on Gox, below the gold spot price of $1,246 per ounce in US dollars. The price of the coin, which broke $1,000 just a few days ago, has been rapidly approaching the price of gold, which has fallen in recent weeks. Today it reached a high of $1,242 on Mt. Gox, topping gold's $1,241.98 at the time. Erik Voorhees, an early entrepreneur in bitcoin, was in jubilant spirits. Voorhees, who sold....
While stocks and cryptocurrency markets have floundered during the last week, the price of the precious metal gold has increased in value by 3.85% during the last seven days. An ounce of fine gold jumped from $1,826.92 on February 10, to $1,897.36 per ounce on February 19. Additionally, the top gold-backed crypto coins today have seen a significant increase in demand alongside premiums above the spot market price of gold.
Gold Shines During Economic Uncertainty
The world’s economy has been shaky and many are blaming the turmoil between Russia and Ukraine, and the....