Bitcoin and Gold Achieve New All-Time Highs
- Bitcoin reached a new all-time high of $126,000 on October 6.
- Gold hit a record high of $4,070 just two days after Bitcoin’s peak.
- Year-to-date, gold has increased by 52%, while Bitcoin has risen by only 32%.
- Bitcoin’s market cap is $2.6 trillion compared to gold’s $27 trillion.
- Luxembourg’s sovereign wealth fund invested in Bitcoin ETFs, allocating about one percent of its assets.
Both Bitcoin and gold have reached new all-time highs this month, driven by different market factors such as ETF inflows for Bitcoin and central bank purchases for gold. Despite the significant gains in both assets, gold continues to dominate with a much larger market capitalization.
The substantial growth in both assets highlights their roles as hedges against economic uncertainty, but gold remains significantly larger than Bitcoin in terms of market cap. (Source)
