Bitcoin Gold is the cryptocurrency that split of the Bitcoin's blockchain in a hard fork on October 24 at approximately am GMT. As a result, Bitcoin (BTC) holders were credited the equivalent amount of Bitcoin Gold (BTG) on a basis i.e. 1 BTC held during the snapshot got you 1 BTG. Storing your BTC on a compatible platform before block , was crucial in order to claim Bitcoin Gold. Bitcoin Gold price today is $ USD with a hour trading volume of $13,, USD. Bitcoin Gold is down % in the last 24 hours. The current CoinMarketCap ranking is #85, with a market cap of $,, USD. It has a circulating supply of 17,, BTG coins . Dec 18, · In fact, saw both Bitcoin and Gold reach a new all-time high. In July, Gold soared past its last all-time high of $1, per ounce, set in August On December 16th, BTC broke past the $20, mark, exceeding its previous high last recorded in
Coin market bitcoin goldBitcoin Gold Price, Live BTG Price Chart & Market Cap | CoinCodex
Each subsequent week has started with even more encouraging results from other vaccine trials, and the trends show falling gold and rising bitcoin. That difference could be evident should another crisis befall us in the near term. Major alternative cryptocurrencies have picked up a bid over the past few days and have outperformed bitcoin in the past 24 hours.
In traditional markets, optimism over potential coronavirus vaccines continues to power gains in risk assets. Subscribe to First Mover , our daily newsletter about markets. As it is still , anything can happen. The latest on the economy and traditional finance. Dollar under pressure as risk appetite stages a comeback Reuters The dollar nursed losses on Wednesday as progress in developing a novel coronavirus vaccine and expectations for a fiscal boost from a new U.
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Recent events are likely to have weakened this trust even further, at a time when the savings rate of those millennials and Gen Z-ers fortunate enough to have kept their jobs through the pandemic is increasing. A New York Times article from earlier this year presented the millennial generation as focused on early retirement, which will concentrate their attention on long-term value that cannot be inflated away.
All this makes young people more likely to invest in inflation-resistant assets, yet less likely to invest in gold.
For one thing, it is difficult for retail investors to actually hold gold. Sure, they can buy shares in a gold ETF, but that implies more centralized control and institutional vulnerability than a self-custodied bitcoin investment.
And in an environment of weakened trust in the current system, self-custody of bitcoin is a much easier solution than is self-custody of gold. So we are likely to have significant new demand for bitcoin as a portfolio investment coming in from younger retail investors, at a time professional investors are also taking notice. Many professional investors will be interested in bitcoin investment precisely because of this potential growth narrative — other people wanting bitcoin is enough to make them want bitcoin.
And, unlike gold, growth in demand for bitcoin does not affect its supply, which feeds the narrative loop even more. Throw in the dwindling rate of new bitcoins entering the system, and the demand-supply dynamics could entice even traditional investors to take an interest. This does not mean that gold investment is over. But a new generation of investors is starting to rewrite the rulebook.
For now, the impact on gold flows is negligible, and we will see funds rush into industry ETFs when markets get wobbly and the commodity price starts to move up again. But demographics and sentiment are two powerful forces that, working in tandem, can move mountains — even those made of gold. In my opinion, possibly both. Bitcoin is a relatively volatile asset, and corporate treasury is not the place to take risks.
But bitcoin is actually a potentially excellent corporate treasury asset. Ria and Tess list several ways in which bitcoin can mitigate typical corporate treasury risks. For instance, balance sheets are often exposed to liquidity risk, in which a company does not have enough liquid assets to meet debt payments and so has to sell less-liquid assets at unfavorable prices. Holding bitcoin instead of these less-liquid assets frees up cash in order to satisfy obligations, as bitcoin can be used as collateral on many lending platforms.
Jeff points out that holding cash on the balance sheet for large corporations is onerous, usually requiring several accounts, limited banking hours, wire fees as well as the need to earn a yield on cash holdings. He also hinted, and this could be fun, that activist investors could soon start pressuring companies to diversify treasury holdings with bitcoin. Ria and Tess touched on this, but I think it could go even further, eventually giving rise to a new type of repo market.
As the specter of no deal on Brexit looms ever closer, and stimulus talks in the U. The year-to-date performance is still higher than more traditional alternatives, institutions continue to demonstrate interest and infrastructure development continues apace. Fidelity Digital Assets is entering the crypto lending business , albeit indirectly, allowing its institutional customers to pledge bitcoin as collateral against cash loans in a partnership with crypto lending firm BlockFi.
TAKEAWAY: The growth of the lending business is worth keeping an eye on, as it represents a maturation of the market as well as a sign that liquidity will continue to improve. More than that, the growing awareness of the advantages of bitcoin as a collateral asset is likely to lead to new types of infrastructure emerging, as well as new use cases for bitcoin and other cryptocurrencies.
These services will include trading and custody. We are a technology company. If BBVA launches crypto trading and custody for its clients, other banks are sure to follow. It also signals that investors increasingly grasp that the ecosystem is about so much more than seizure-resistant hard supply assets, and that native assets are in themselves technologies, each with its own strengths and potential. It will be interesting to see whether these investors remain exclusively focused on ether, or whether it will itself become an on-ramp for investments in Ethereum-based tokens and perhaps other protocols.
TAKEAWAY: The entrance of legacy financial institutions into the crypto asset services business is no longer in doubt, and next year we will most likely see at least a handful offer these services to their clients. This will significantly move the needle on mainstream trust in crypto assets — if banks are offering these services, it must be legit, right? For some banks it will be a question of rapidly consolidating position and building ancillary services, for others it will be to try to catch up.
BitGo has added capital introduction services to its suite of white-glove crypto brokerage services. Capital introduction in crypto markets will serve more than merely to introduce institutional funds to fund managers; it will also be an opportunity to educate more institutional investors about crypto assets. A higher number of large holders does also introduce some centralization through concentration of wealth, and the risk that any one of these holders could sell, pushing the market down.