Bitcoin vs Gold (11/30)

Friends, in celebration of the Chicago Mercantile Exchange’s (CME) launch of two new bitcoin indexes (BRR & BRTI), is going to compare the price of bitcoin and gold on a daily basis. We at FintekNews have written (and are on record) of saying that bitcoin will outperform gold in the future.**   Bitcoin IS the new gold.

Trading thought (11/30):  We fully realize that a ‘pure’ bitcoin/gold comparison is not a level playing field. First, the capitalization of bitcoin is minuscule compared to gold (for now), gold has many more applications (do not bring your significant other a bitcoin necklace for a gift) such as jewelry and gold is……well, prettier. We are using this comparison to make a case that bitcoin is the new gold as a safe haven, flight to safety. It is.

 

We wrote an article (8/17) going on the record saying bitcoin will outperform gold throughout the future. Should you have done that (long bitcoin, short gold) you would be up $314.87 or 41.8% (see chart above). No reason to change, bitcoin has re[laced gold as a safe haven.


Bitcoin vs. Gold Daily Pricing Chart

Date

Bitcoin Close

Daily Points +/- Since Inception +/- Gold Close Daily Points +/- Since
Inception
+/-
8/17 $575 N/A N/A $1350 N/A N/A
11/29 $732.88 +1.13  +27.5% $1191.00 -3.0 -11.8%
11/30 $740.87 +7.99  +28.8% $1174.00 -16.0

 -13.0%

 

 *CME CF Bitcoin Reference Rate & CME CF Bitcoin Real Time Index

 


** Please see FintekNews.com articles for reference on pricing below”

BITCOIN-GOLD UPDATE (Published 10/26/16)

BITCOIN-GOLD: $2K $3K? Published 8/17/16)