Bitcoin vs. Gold: The Battle for Global Currency! | Jamen Mendes | Coins | April 2024

teaDue to the Middle East conflict between Israel and Iran sudden drop As the price of Bitcoin fell on April 14, BTC plummeted from $67,900 to $60,050. Meanwhile, the price gold immediately shut up It hit an all-time high of $2,430 per troy ounce!

This was an important test for both Bitcoin and gold. For now, it looks like Gold has won the contest. In fact, there are reports that major central banks around the world have been increasing their gold reserves as they move away from the US dollar.

The price of gold has been rising since it last fell on February 14, 2024, at around $1,990. Like Bitcoin, gold has also been on a steady rise, up a whopping 21% over the past 60 days. That is, Bitcoin rose from $51,350 to $73,700, or a 43% gain, before falling last weekend to its current price range of $63,400, or an adjusted 23% gain.

Gold vs Bitcoin
Although global investors appear to prefer gold over Bitcoin as an inflation hedge, Bitcoin has completely outperformed gold. Bitcoin has risen more than 105,000% to $73,800 per coin in just 15 years, while gold has risen from $854 on January 9, 2009, the official launch date of Bitcoin, to its current price of $2,400. ; It only increased by 281%.