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Bitcoin

<a href="https://yellow.com/asset/btc">Bitcoin</a> has achieved a remarkable milestone by reaching a new all-time high (ATH) against gold, underscoring the cryptocurrency's growing prominence as a store of value. This development was shared by veteran trader Peter Brandt via a recent post, where he also noted the potential for further appreciation of Bitcoin relative to gold. 
Brandt's analysis <a href="https://www.newsbtc.com/bitcoin-news/bitcoin-hits-record-high-against-gold-what-it-means-for-btc-price/">indicated</a> that the BTC-to-gold ratio has ascended to a new peak of 32.19 ounces of gold per Bitcoin. This metric, pivotal for assessing Bitcoin's relative performance to gold, highlights the ongoing shift toward Bitcoin's favor in the broader financial landscape. In a subtle nod to Bitcoin critic and gold enthusiast Peter Schiff, Brandt underscored Bitcoin's increasing value proposition. 
The seasoned trader projected a future target of 89 ounces of gold per Bitcoin, suggesting considerable room for growth. 
This aligns with the prevalent narrative in the cryptocurrency industry that Bitcoin is destined to rival gold’s market capitalization of $15 trillion. Brandt has previously forecasted that Bitcoin could rise 400% relative to gold by 2025, with expectations reaching as high as 123 ounces of gold per Bitcoin, influenced by historical market trends. 
Supporting this argument, a report from trading firm Bernstein anticipates that Bitcoin may supplant gold as the predominant safe-haven asset in the coming decade. Presently, Bitcoin's market cap of $2.11 trillion positions it to steadily erode gold's leading status. Echoing this outlook, Eric Voorhees, a pioneering Bitcoin advocate and CEO of ShapeShift, has asserted that Bitcoin's pre-programmed supply scarcity could propel its price markedly higher, diverging from traditional assets like gold and oil. 
Additionally, insights from Nate Geraci, President of the ETF Store, suggest that BTC-based ETFs might surpass gold ETFs in asset management within two years. Supporting this forecast, SoSoValue data shows cumulative net inflows of $35.6 billion into all spot BTC ETFs, compared to $55 billion for gold ETFs. 
As Bitcoin surpasses the significant $100,000 mark, speculation about President-elect Donald Trump's stance on digital assets intensifies. Industry analysts posit that Trump could prioritize Bitcoin adoption in his upcoming term, potentially accelerating BTC's value. 
Crypto analyst Ali Martinez's findings bolster this optimism, revealing a surge in "BTC whales" – wallet addresses possessing over 1,000 BTC – post-Trump's electoral victory. This trend is coupled with speculation about a potential US strategic Bitcoin reserve, with financial experts advocating for its establishment. They argue that such a reserve could prompt similar initiatives among global competitors like China, ensuring geopolitical competitiveness. 
Currently, Bitcoin trades at $106,909, reflecting a 3.7% increase over the past 24 hours. This price action suggests a continuing upward momentum, fueled by both domestic and international economic developments.

Bitcoin Sets New Record Against Gold: Analysts Weigh Future Price Trajectory

Yellow News

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