PlanB on the digital Gold and Bitcoin ETFs

Well 11 years after the Launch of the oldest crypto-currency, it seems that the Bitcoin has developed a kind of digital Gold. And if you look closely, then you find that the Bitcoin price has hit the price development of gold in order to lengths. The crypto-Analyst PlanB has now more intense with the comparison of Bitcoin and Gold.

Despite the high volatility of the Bitcoin is regarded as a good investment opportunity

So PlanB posted recently on Twitter : “#Bitcoin, in Gold, USD, rating … out of the equation.”

#Bitcoin priced in Gold .. USD out of the equation pic.twitter.com/ZUkTj0hY8J

— PlanB 🔴 (@100trillionUSD) June 5, 2020

In the inserted Chart is to see that you receive today in comparison to the values of seven years ago, about a hundred times the amount of Gold for a Bitcoin. Finally, it receives almost 10 ounces for a Coin, while in 2013, only 0.1 ounces. The development goes on and on, you could secure in a few years, even 100 ounces per virtual coin.

What are the ETFs have to do with the Bitcoin price?

Furthermore, the crypto-expert asks the Community, what time it was because time for the first Bitcoin ETF. The first Gold ETF, it was only in the year 2003, even though Gold object is, of course, is already longer than investment. Since the introduction of the price for Gold has developed positive of US $ 400 to 1,900 US dollars.

2003 .. first Gold ETF. When #bitcoin ETF? pic.twitter.com/v5NSi7B7LA

— PlanB 🔴 (@100trillionUSD) June 4, 2020

If it should so soon be a Bitcoin ETF, this could miss the price of the digital currency, a associated push.

Image source: Photo of btckeychain