Blog Details


The rise of digital gold: Bitcoin’s correlation to gold hits multi-year high

Bitcoin’s (BTC) correlation with gold reached a multi-year high last week and is presently above 50%, exceeding its correlation with U.S. stocks

Indeed, Bitcoin has withstood the current instability in the financial industry and mounting regulatory uncertainty very well, skyrocketing by over 70% YTD, greatly surpassing traditional asset classes as they see ‘digital gold’ as a potential store of value.

Together with on-chain statistics indicating a growing percentage of Bitcoin long-term investors, this may suggest that Bitcoin’s appeal as a haven asset is on the ascent, according to data from Kaiko published on April 3.

Gold climbs 8% since March bank crisis began

Notably, both the flagship digital asset and the precious metal suffered significant declines last year. However, gold has also seen a price increase of 8.6% since the collapse of Silvergate on March 8 brought about the banking crisis, bringing the price closer to its all-time high of $2,000, which was obtained shortly after the start of Russia’s invasion of Ukraine. 

We may use cookies or any other tracking technologies when you visit our website, including any other media form, mobile website, or mobile application related or connected to help customize the Site and improve your experience. learn more