The value of a ton of gold reaches a record 2,000 Bitcoins for the first time

Bitcoin’s relationship to gold is one of the key points for the consistency of the greatest cryptomon currency.

The Bitcoin community on Twitter is celebrating a new milestone for cryptomoney this Tuesday, January 5: For the first time, a ton of gold has reached the mark of only 2,000 BTC.

The first Twitter profile to launch the new milestone was @VersusBTC, which compares the Crypto Trader and gold markets. The profile was published:

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On January 2, Bitcoin’s market value reached 5% of the gold capitalization for the first time in history, as published on Twitter:

At the moment, gold is trading at about $1,264, while Bitcoin has one day of recovery, surpassing $33,125 in early afternoon, according to Cointelegraph Markets.

The correlation between Bitcoin and gold has been closely followed by the cryptomarket, as the properties of gold reserves are often compared to those of Bitcoin, for many a type of „digital gold“.

Bitcoin’s price could reach $146,000 in the long term if it succeeds in displacing gold, says JPMorgan

Throughout 2020, the two assets maintained a certain degree of correlation and were pointed out by experts as two economic protection assets during the global economic crisis. The correlation would only be broken by the exponential rise of Bitcoin in September last year.

As Cointelegraph Brazil reported on Tuesday, the relationship between gold and Bitcoin is also fundamental to sustain Bitcoin’s rise, as JPMorgan researchers pointed out. In a study revealed by Bloomberg, it was mentioned:

„Bitcoin’s market capitalization of about $575 billion would have to increase 4.6 times – based on a theoretical price of $146,000 – to correspond to total private-sector investment in gold through listed funds or bars and coins,“ wrote strategists led by Nikolaos Panigirtzoglou in an article. But that prospect depends on Bitcoin converging with the volatility of gold to encourage greater institutional investment, a process that will take time, they argued.

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