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Sell Gold and Buy Bitcoin: Peter Brandt Said the Record Will Continue - Coin Bulletin
Legendary investor Peter Brandt believes that the gap between gold and Bitcoin will narrow over time and that BTC will continue to appreciate in value.
The Bitcoin-gold ratio, which measures the purchasing power of Bitcoin against gold, reached a historic peak as the price of BTC reached new record levels.
Experienced futures and forex trader Peter Brandt announced on December 16th on social media platform X that the Bitcoin-gold ratio has reached a new all-time high (ATH).
The Bitcoin-gold ratio is calculated by dividing the Bitcoin price by the spot gold price, showing how many ounces of gold are needed to buy 1 BTC. On December 16th, Bitcoin surpassed the $106,000 level, while spot gold (XAU) traded around $2,650. Based on this data, the Bitcoin-gold ratio set a new record of 40 ounces of gold.
Brandt, announced his next target
Peter Brandt, highlighting the new record, expressed his confidence that the Bitcoin-gold ratio will continue to grow:
This prediction aligns with the popular narrative in the cryptocurrency community, suggesting that Bitcoin could significantly capture a share of the $15 trillion market value of gold.