Yigit Taha OZTURK 
On December 16, 2024, Bitcoin surged past $106,000, marking a new record high. This price increase pushed the Bitcoin/Gold Ratio to an all-time high of 40 ounces of gold per Bitcoin. At the time, spot gold was trading at around $2,650, highlighting the impressive rise in Bitcoin’s value.
Peter Brandt, a seasoned trader, announced the new milestone on X and suggested that the next target for the ratio could be 89 ounces of gold per Bitcoin, implying Bitcoin will continue to outperform gold.
Bitcoin vs Gold: Market Capitalization Discrepancy
Currently, Bitcoin’s market capitalization stands at about $2.1 trillion, while gold’s market cap is approximately $15 trillion. This disparity points to the potential for further growth in Bitcoin, with some analysts suggesting that Bitcoin could eventually close this gap. Cathie Wood, founder of ARK Invest, also commented earlier in December that Bitcoin is positioned to solidify its status as digital gold by bridging this market cap difference.
Mining Difficulty and Record-Breaking Achievements
Bitcoin’s price surge comes amid a record-high mining difficulty. On December 15, the Bitcoin mining difficulty surpassed 105 trillion, setting a new record. The mining difficulty adjusts every 14 days (every 2016 blocks), and the next adjustment is expected on January 1, 2025.
Bitcoin’s growing value and its increasing dominance over gold are catching the attention of investors, further solidifying Bitcoin’s role as a store of value in the long term.
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