Miller Cole, a research and content analyst at Bitcoin treasury company The Smarter Web Company, said on X that one Bitcoin currently buys about 18.55 ounces of gold, up from roughly 15.3 ounces a month ago. He said Friday’s price action in Bitcoin pushed the BTC/XAU ratio back above its 50-week simple moving average, which he described as a bullish signal. Cole added that he expects the BTC/XAU ratio to reach a new high during this cycle over the next few years. The comments frame Bitcoin’s recent move in terms of its performance against gold rather than against fiat currencies, with the ratio used as a relative strength gauge between the two assets.
According to ChainCatcher, Miller Cole, a research and content analyst at Bitcoin treasury company The Smarter Web Company, said on X that one Bitcoin currently buys about 18.55 ounces of gold, compared with roughly 15.3 ounces a month ago.
He also said Friday’s move in Bitcoin pushed the BTC/XAU ratio back above its 50-week simple moving average, calling it a bullish signal. Cole said he expects the BTC/XAU ratio to set a new high in this cycle over the next few years.
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