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For the first time ever, the price of one Bitcoin has surpassed the price of one ounce of gold.
While today’s swap can be attributed to a good day for Bitcoin (up ~3%) and a bad day for gold (down ~1.3%), the big picture is that Bitcoin has more than doubled in the last year (up ~185% from a year ago) while gold is essentially trading exactly at the price it was a year ago.
Bitcoin - Gold - Thought - Assets - Correlation
Even though Bitcoin and gold are both thought of as alternative assets, they don’t usually trade in correlation.
Still, it’s notable that Bitcoin has (at least temporally) surpassed the price of gold. Gold is quite literally the “gold standard” of alternative assets, often used by investors to hedge against potential losses in more traditional assets like real estate and the stock market.
When it was first launched, many said Bitcoin would...
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