Gold vs bitcoin: one bitcoin now buys only about 18 ounces of gold

Gold and bitcoin are both seen as a hedge against currency debasement, yet the balance of power between them has more than halved within a year. On Thursday, November 12, one bitcoin cost about $71,300 and a troy ounce of gold $3,885. One bitcoin was therefore worth 18.4 ounces of gold. In December 2024 the figure was almost 40 ounces. By Friday afternoon it had slipped further to around 17.7 ounces, because bitcoin fell more sharply than the metal.