Useful Tips

View all
Bitcoin continues to outperform the old guard

Bitcoin VS Gold

It seems that the new preferred store of value appears in the financial arena. As the price of Bitcoin is getting closer to $59,000, its value in relation to gold is approaching new all-time highs! Measured against gold, the price of Bitcoin recently reached 34.94 ounces. It has more than doubled in the past three months and nearly sevenfold since October 2020.

The CEO of Galaxy Digital, and billionaire investor Mike Novogratz, said that he expected Bitcoin to surpass the gold market capitalization, but even he was shocked at the pace of crypto adoption. With Bitcoin up around 800% over the past year, it can certainly catch up with gold. Novogratz also said that "the US has crossed the Rubicon" in terms of the number of citizens who own bitcoins.

Although 2020 was a big year for gold, it pales in comparison with Bitcoin's 265% annual return. Some well-known analysts, such as Bloomberg's Mike McGlone, believe that gold is losing ground to Bitcoin. Recently in one of his tweets, McGlone said: “Gold will always have a place in jewelry and coin collections, but most indicators point to an accelerating pace of Bitcoin replacing the metal as a store of value in investor portfolios.” Even JPMorgan, an organization that has long criticized Bitcoin, has said that the digital currency will take a part of gold's market share.

We can definitely see that the more big firms, such as Tesla, MicroStrategy, or Morgan Stanley become interested in Bitcoin, the more winning position digital gold takes. Also, PayPal's announcement really added fuel to the fire, as a payment company said it would allow customers to make payments in cryptocurrency.

So, things are changing, and Bitcoin is definitely taking the lead, beating traditional financial assets. Let’s monitor further developments!

Published: 07.04.2021

Recently Added

mining-speed-update-for-CT-Farm-PRO

Earn More! Mining Speed Update for CT Farm PRO

We’ve heard you have plans for building a high-income farm. We also have plans — new Worker plans with increased maximum speed for CT Farm PRO on iOS. It's a match!
expand-your-farm-without-limits

Expand Your Farm without Limits!

Do not limit yourself! Say goodbye to days when you had to ask yourself whether you have enough slots for your farm or not! CT Farm PRO is here to offer you an unlimited hardware space — so you can add as many PCs and Workers as you want!
now-use-ct-farm-prop-for-free

Now Use CT Farm PRO for Free!

The biggest and most important news of the crypto farm world this year is here! Now you can discover the advanced CT Farm PRO app and start earning BTC with the most innovative farm solution — for absolutely free!