Recent achievements of Bitcoin that surpassed the price of one kilogram of pure gold highlight its growing importance in the financial market.
Bitcoin as 'Digital Gold'
Tracy Jin, COO of MEXC, stated that this achievement strengthens Bitcoin's image as 'digital gold,' confirming its growing role in global finance. She noted that Bitcoin is becoming a vital store of value and a key part of diversified investment portfolios worldwide. 'Bitcoin is no longer just powering the crypto ecosystem. It is now actively shaping modern portfolio strategy,' she said.
Current Market Situation and Predictions
Bitcoin's recent growth, which lasted for six consecutive weeks, allowed it to close near $106,500. Jin pointed out that the $105,800 level is a key resistance zone. If Bitcoin breaks through this mark, it could reach $109,000, with optimistic projections of $130,000 in the third quarter and possibly $150,000 by year-end. However, she warned that volatility remains a significant factor. 'If it fails, a deeper correction to $91,000 may precede any continuation of the broader uptrend,' she added.
Comparison with Gold
Although gold has a much larger market cap than Bitcoin, Jin noted that the cryptocurrency still has advantages based on its fixed supply, full transparency, and programmable infrastructure which offer a new hedge against risks associated with fiat money and government debt. JPMorgan analysts also backed this view in a recent report, noting that Bitcoin is beginning to take market share from gold due to its rising corporate interest and support from the United States.
Bitcoin's achievement of surpassing gold in price highlights its changing role on the financial stage and the growing interest from investors and institutions.
