BTC to Gold Exchange Rate Surges to New All Time High of 17 Ounces per Bitcoin
Bitcoin’s record-breaking rally is continuing into the new year with the bitcoin to gold exchange rate touching a new all-time high of 17.38 ounces per bitcoin. According to data from Marketwatch, the new high easily surpasses the all-time high recorded on January 01, 2021, of 10.74 ounces per coin. The new milestone comes as the digital set a new all-time of over $33k. The new record means it takes about 7 more ounces of gold or an equivalent of $13,855 for one to get a full BTC now than they did on January 1, 2017. Furthermore, the data shows that between December 1st and January....
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News of the discovery of approximately 40 million troy ounces of gold in Russia’s Siberian region is likely to boost the profitability of the country’s biggest gold producer, while adding to the supply of the “scarce” resource. Reports say the Polyus owned the Sukhoi Log contains 540 million tonnes of ore, which translates to an average of 2.3 grams per ton. The reserves, which will account for a quarter of Russia’s gold stocks, are likely to generate $76 billion in revenues for Polyus when using current prices. How Bitcoin Compares to Gold Although the Sukhoi....
BTC has hit another milestone, this time against gold bullion, the world’s oldest reserve asset. Bitcoin price claimed another all-time high on Friday, this time against gold, offering further confirmation that demand for digital assets is on the rise. As Bitcoin (BTC) zipped past $29,000 on Friday, the digital currency reached a high of 15.40 gold ounces, surpassing the previous peak from December 2017, according to MarketWatch data. Bitcoin priced in gold bullion via MarketWatchAccording to U.Today, the Bitcoin-gold rate peaked at 15.62 ounces during the early morning. 2020 was a....
Bitcoin is approaching all-time highs versus gold. The digital currency broke above $59,000 on Tuesday while gold languished below $1,700. As the Bitcoin (BTC) price edges closer to $59,000, its value relative to gold is approaching new all-time highs, possibly hinting at the emergence of a new preferred store of value.Measured against gold, Bitcoin’s price reached 34.94 ounces on Tuesday. The BTC-gold comparative peaked at 35.35 ounces on March 13 as Bitcoin surged past $61,000. Bitcoin continues to outperform gold by a significant margin. | Chart via BuyBitcoinWorldwideBitcoin’s value....
Gold sinks to yearly lows against Bitcoin but Peter Schiff remains convinced that the former's price gains are ill-gotten. Bitcoin (BTC) hit seven ounces of gold for the first time in over a year this week as the precious metal comes off all-time highs.Data from CoinGecko showed BTC/XAU returning to the pivotal 7 ounce mark on Oct. 25, continuing to edge up to press-time levels of 7.02 ounces.Gold hits one-year lows in BTCDespite Bitcoin losing ground after challenging $14,000, the gains against gold remained on Thursday, as the traditional safe haven felt the pressure of Coronavirus....
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....