proponents have long pitched it as a global store of value, assuring investors guaranteed returns over some time, irrespective of the state of the broader financial market.The Bitcoin to Gold ratio has risen sharply since the start of the year, and was moving closer to the all-time high clocked during the peak 2021 bull market, according to crypto market data provider
The ratio, which measures the relative performance of the two assets, underlined that the “Digital Gold” outperformed its real-world counterpart.The world’s largest cryptocurrency has been bolstered by the launch of spot exchange-traded funds in the U.S. this year.The soaring demand sent Bitcoin past its ATH earlier this month, and more than 50% higher since the start of the year.The 60-day BTC/Gold correlation oscillated between a positive 0.15 and a negative 0.15 for most of the last decade.
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