{"id":180466,"date":"2021-02-17T16:00:00","date_gmt":"2021-02-17T13:00:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bitcoin-buys-more-gold-than-ever-with-one-ounce-now-costing-under-0-035-btc\/"},"modified":"2021-02-17T16:00:00","modified_gmt":"2021-02-17T13:00:00","slug":"bitcoin-buys-more-gold-than-ever-with-one-ounce-now-costing-under-0-035-btc","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bitcoin-buys-more-gold-than-ever-with-one-ounce-now-costing-under-0-035-btc\/","title":{"rendered":"# Bitcoin buys more gold than ever with one ounce now costing under 0.035 BTC"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a41887b969fb\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a41887b969fb\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-buys-more-gold-than-ever-with-one-ounce-now-costing-under-0-035-btc\/#XAUBTC_plumbs_new_depths\" >XAU\/BTC plumbs new depths<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-buys-more-gold-than-ever-with-one-ounce-now-costing-under-0-035-btc\/#Schiff_holds_out_against_a_deluge_of_Bitcoin_gains\" >Schiff holds out against a deluge of Bitcoin gains<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># Bitcoin buys more gold than ever with one ounce now costing under 0.035 BTC <\/strong>&#8221;<\/p>\n<div class=\"post-content\" data-v-5a136f3a>Bitcoin (BTC) is now worth more in gold than at any time in its history as the largest cryptocurrency passes $50,000.<\/p>\n<p><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/Schuldensuehner\/status\/1361953956465963009\">Data<\/a> noted by markets commentator Holger Zschaepitz on Feb. 17 confirms that one ounce of gold now buys just 0.0352 BTC.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"XAUBTC_plumbs_new_depths\"><\/span>XAU\/BTC plumbs new depths<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Since hitting new all-time highs on Wednesday, the price of gold in Bitcoin terms became even cheaper, with one ounce costing $1,794 or 0.0349 BTC at the time of writing.<\/p>\n<p>&#8220;Bitcoin is eating gold in one chart!&#8221; Zschaepitz declared in comments.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-02\/8e701bb6-39f9-479f-9e36-bdccf91dcafa.png\" alt=\"\" title=\"\"><figcaption style=\"text-align: center;\"><em>Gold priced in Bitcoin. Source: Holger Zschaepitz\/ <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a>\/ Bloomberg<\/em><\/figcaption><\/figure>\n<p>Responding, analytics account Ecoinometrics added that gold&#8217;s underperformance versus Bitcoin simply increases if longer timeframes are taken into account.<\/p>\n<p>Bitcoin&#8217;s one-year risk-adjusted returns had topped 270%, compared to 24% for gold as of Dec. 28, 2020. Four-year returns contain an even starker contrast, with 2,675% versus 64% for Bitcoin and gold, respectively.\u00a0<\/p>\n<p>&#8220;When looking at Bitcoin vs. gold don&#8217;t zoom out too much or gold will turn into the horizontal axis,&#8221; Ecoinometrics commented presenting accompanying charts.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-02\/dec5b18d-3965-474a-8edd-8a14c862a003.jpeg\"><figcaption style=\"text-align: center;\"><em>Bitcoin vs. gold risk-adjust returns comparison. Source: Ecoinometrics\/ Twitter<\/em><\/figcaption><\/figure>\n<h2><span class=\"ez-toc-section\" id=\"Schiff_holds_out_against_a_deluge_of_Bitcoin_gains\"><\/span>Schiff holds out against a deluge of Bitcoin gains<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Despite the figures, gold bugs continue to pit Bitcoin against the precious metal and predict disastrous consequences for those holding BTC as the correlation between the two assets has noticeably decreased since September 2020.\u00a0<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-02\/db9cedd3-28c8-401d-a50f-531da86f8139.png\"><figcaption style=\"text-align: center;\"><em>Bitcoin rolling 90-day correlation vs. Gold, VIX, USD, S&amp;P500. Source: Digital Assets Data<\/em><\/figcaption><\/figure>\n<p>Among them is Peter Schiff, who in his latest Twitter spat with proponents including his son, Bitcoin hodler Spencer Schiff, maintained that BTC\/USD is <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/PeterSchiff\/status\/1361717952102469634\">destined<\/a> to go to zero.<\/p>\n<p>When asked whether the process would take thousands of years or longer by Bitcoin Foundation founder Charlie Shrem, Schiff replied that it should be a lot sooner.<\/p>\n<p>&#8220;Serious answer &#8211; I doubt it will take anywhere near that long,&#8221; he claimed.<\/p>\n<blockquote><p>&#8220;But there may still be a bid in #Bitcoin for years after it collapses to near zero so who knows how many more it will take before that bid dis<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>ears completely.&#8221;<\/p><\/blockquote>\n<p>A $1 million Bitcoin, he added, was &#8220;highly unlikely.&#8221;<\/p>\n<p>Spencer subsequently reminded him of a prediction he made in June last year, in which Schiff claimed that Bitcoin was &#8220;highly unlikely&#8221; to hit $50,000.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/bitcoin-buys-more-gold-than-ever-with-one-ounce-now-costing-under-0-035-btc\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Bitcoin buys more gold than ever with one ounce now costing under 0.035 BTC &#8221; Bitcoin (BTC) is now worth more in gold than at any time in its history as the largest cryptocurrency passes $50,000. Data noted by markets commentator Holger Zschaepitz on Feb. 17 confirms that one ounce of gold now buys&#8230;<\/p>\n","protected":false},"author":1,"featured_media":180467,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDIvNTIwNDQxZjctNTU0Ni00NGNlLWFiYmYtOGNkNDBlZGE1MmZmLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74937,71835,73785],"class_list":["post-180466","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-bitcoin-price","tag-gold","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/180466","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=180466"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/180466\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/180467"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=180466"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=180466"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=180466"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}