The flagship cryptocurrency to gold ratio, which shows how many ounces of the precious metal can be bought for one Bitcoin , reached an all-time high. This figure is calculated by dividing the price of BTC by the spot price of an ounce of gold.
After Bitcoin surpassed the $107,000 mark, bringing the ratio to a record high of 37,3, meaning one coin can buy about 37 ounces of gold.
The BTC/Gold ratio has reached a record high, solidifying Bitcoin's status as "digital gold" and cementing its position as an increasingly preferred store of value over traditional gold, analysts at Singapore-based exchange QCP Capital said.
According to experts, MicroStrategy's inclusion in the Nasdaq 100 index has further strengthened optimistic sentiment in the cryptocurrency market. Especially since the company's founder, Michael Saylor, said that he will continue to buy Bitcoin , despite the fact that the asset price exceeded $100,000.
MicroStrategy's consistency has inspired other companies to invest in Bitcoin . For example, Nasdaq-listed battery maker Solidion recently announced that it would allocate 60% of its cash reserves to buying BTC. Japanese investment firm Metaplanet has also followed Michael Saylor’s lead and used its flagship asset as a strategic reserve to cope with high inflation in the country.
