Bitcoin's purchasing power relative to gold has risen to its highest since January, with one BTC now buying more than 18 ounces of the precious metal. Both hard assets are rallying on fears of government debt monetization, but Bitcoin is outpacing gold.
One full bitcoin now buys a little more than 18 ounces of gold, the most since January. The two hard assets are rallying together, driven by fears that governments will inflate away their debt rather than by bond yields, but Bitcoin is pulling ahead of gold.
This article was originally published by Bit.Fan. For more cryptocurrency news and market insights, visit www.bit.fan. Disclaimer:
The market information, project data, and third-party content displayed on this platform are for industry information sharing only and do not constitute any form of investment advice or return commitment.
Cryptocurrency trading carries high risks. Users should fully assess their risk tolerance and make independent decisions. All profits, losses, and legal responsibilities are borne by the users themselves.
