Odaily Planet Daily News Singapore digital asset trading company QCP Capital wrote in Monday’s report that the price ratio of BTC to gold has reached a new high, further consolidating BTC’s status as “digital gold,” gradually positioning it as “an increasingly favored store of value compared to traditional gold.”
Nevertheless, traders still tend to choose gold over BTC in uncertain times. BTC has become increasingly related to traditional markets, partially due to the approval of the US BTC ETF in January this year. According to Coinglass, the global AUM of BTC ETF has reached 119 billion USD. According to the World Gold Council, the total AUM of gold ETF was 290 billion USD as of November 2024, roughly twice that of BTC ETF assets. (Decrypt)
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