Bitcoin is approaching a level where one coin can buy 20 ounces of gold, according to a CoinDesk report cited by ChainCatcher. The bitcoin-to-gold ratio currently stands at 19.8, meaning 1 BTC can purchase 19.8 ounces of gold at current levels. That marks a rebound from the February low of 12 ounces, though the ratio remains well below half of its historical peak, which was slightly above 40 ounces. CoinDesk said the bitcoin-to-gold ratio is down just 1% so far this year. The data referenced in the report was attributed to @btcjvs. The move highlights a recovery in bitcoin’s relative value against gold from earlier lows, while still leaving it far from the record level previously reached.
Bitcoin is nearing a point where one coin can be exchanged for 20 ounces of gold, according to a CoinDesk report cited by ChainCatcher. The bitcoin-to-gold ratio currently stands at 19.8.
At that level, 1 BTC can buy 19.8 ounces of gold. The ratio has rebounded from a February low of 12 ounces, but it is still less than half of its historical peak of slightly above 40 ounces. CoinDesk said the bitcoin-to-gold ratio is down 1% year to date. The data was reported by @btcjvs.
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