Gold and Bitcoin eye inflation-adjusted all-time highs... but it's taken gold...
Taking U.S. dollar devaluation into account, Gold has still not reached the all-time price high it set in 1980. Gold bug and Bitcoin (BTC) skeptic Peter Schiff was just 17 years old when the yellow metal set its true all-time price high. Meanwhile, Bitcoin, a much younger asset, sits close to its inflation-adjusted all-time high, or ATH, after just three years of downward pressure.Adjusted for inflation, gold reached a price of $678 U.S. dollars in 1980, according to a breakdown from Visual Capitalist. Accounting for inflation, based on calculations from Officialdata .org, $678 in 1980....
Related News
The CEO of a Canada-headquartered gold mining company, Mark Bristow, has insisted that gold currently has little downside risk. He also highlighted the precious nature of the metal and how it is a better alternative store of value than cryptocurrencies. Better Inflation Hedge Mark Bristow, the CEO of Canada-based Barrick Gold Corp., recently argued that gold has little downside risk and investors seeking to hedge against inflation will pick the precious metal over cryptocurrencies, a report has said. The CEO made these comments despite some analysts predicting that the precious metal will....
One analyst says Bitcoin is "eating" the precious metal as gold bugs scramble to find support amid repeated new all-time highs. 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.XAU/BTC plumbs new depthsSince 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....
Gold prices have been steadily tumbling in the past few weeks, more so recently after the Chinese reserves data revealed a smaller than expected portion of gold reserves. Gold has been treated as a hedge against inflation, typically gaining in value also when investors are seeking lower-yielding returns from safe-havens. This time around, even with all the monetary policy easing going on among central banks and the prospect of another downturn in inflation, gold prices have failed to rally. Some financial market experts say that gold prices might not see much upside anytime soon since....
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....
Across multiple economic downturns and bear markets, gold has proven to be a haven for investors worldwide, with many traders and investors opting to invest in it to protect their capital against value depreciation, which occurs from inflation, causing an increase in general prices. Because gold prices are related to the US dollar value due to gold being dollar-denominated, a stronger USD keeps the price of gold down and more controlled. A weaker USD drives the gold price higher due to increasing demand. Ultimately this means that more gold can be purchased when the dollar is more....