Bitcoin's price reached new heights this week, pushing its ratio to gold to more than 37, meaning one Bitcoin now buys 37 ounces of gold. This surpasses the previous peak of over 36 from November 2021. Analysts say the milestone signals Bitcoin's growing adoption as an asset class, bolstered by institutional investments and rising ETF inflows. Despite its higher volatility than gold, Bitcoin continues to be viewed as a "digital gold" and a store of value. Global Bitcoin ETFs currently manage $119 billion, compared to gold ETFs' $290 billion.
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00:00It's Benzinga bringing Wall Street to Main Street.
00:02Bitcoin's price reached new heights this week, pushing its ratio to gold to more than 37,
00:07meaning one Bitcoin now buys 37 ounces of gold.
00:10This surpasses the previous peak of over 36 for November 2021.
00:15Analysts say the milestone signals Bitcoin's growing adoption as an asset class,
00:20bolstered by institutional investments and rising ETF inflows.
00:24Despite its higher volatility compared to gold,
00:27Bitcoin continues to be viewed as a digital gold and a store of value.
00:32Global Bitcoin ETFs currently manage $119 billion, compared to gold ETFs of $290 billion.