Gold and Bitcoin (BTC) have been considered by investors as viable options for protection against economic uncertainty. Commodity strategist at Bloomberg Mike McGlone suggests that gold is most likely to outperform Bitcoin in upcoming months, as the precious metal is attempting to reach new highs. McGlone points out that the Bitcoin-to-gold ratio is currently at 14 per ounce, and although it cannot be held as a primary investment asset, gold still acts as a safe-off asset.

The potential of gold to rise in comparison to Bitcoin remains uncertain, and factors like the mentioned Bitcoin-to-gold ratio are taken into account. Both assets have seen an increase in their values in the past couple of months, partly due to the present banking crisis. Gold-related exchange-traded funds (ETFs) have grown by 10% in the last two months, outperforming the SPX's 3% boost in that period.

Currently, Bitcoin trades at around $26,810 with daily updates of 1.5%. Kitco data marks gold worth $2,010 per ounce. McGlone's previous assessment recalled that gold is expected to outplay Bitcoin at a time of recession and stock market crisis, based on a 100-week moving average chart.

Both gold and Bitcoin provide protection in times of economic instability. Gold is the historical safe asset, yielding a dependable store of value for centuries. On the other hand, as more people accept Bitcoin as a form of payment, its usage as a safe asset is also on the rise. Lingering needs for security, privacy and robustness of the asset are among its main attraction points, offering an alternative to fiat currency.

Whether Bitcoin can outshine gold is yet to be seen, but with its potential to disrupt the traditional finance world and the ever-increasing need for safe-off assets, it might just be closer to achievement than many believe.



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