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)