Ounces of Gold to Buy 1 Bitcoin

JC Parets
June 25, 2024

Just a few months ago in March, it took an investor 34 ounces of Gold in order to purchase 1 Bitcoin.

By last night, that number was all the way down to only 25 ounces of Gold necessary to buy 1 Bitcoin.

Here's what the ratio looks over time. In other words, here's how much "Real Gold" it costs to buy "Digital Gold":

Look at the price of Bitcoin consolidating over the past few months.

BTC is now near the lower end of this range.

But this is just 1 token.

There are over 170 other Crypto Currencies that are valued at more than $300 Million in Market-cap, which is what would be considered a "Small-cap Stock" to be included in the Russell2000.

There are opportunities from the long side in some of these tokens, just like there are in the stock market.

Relative strength is a big input here, as the strongest names rise to the top.

To be clear, Bitcoin is NOT on the list of the names that are showing relative strength.

But if you're interested in regular updates and trade alerts from the best names in the space, make sure you're added ASC Crypto to your account.

Also, if you've never traded Crypto and/or are looking to learn more about Crypto Currencies, then this is a great way to get up to speed.

Join ASC Crypto RISK FREE.

JC

 

 

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