Bitcoin-to-gold ratio hits January high as 1 BTC tops 18 ounces of gold

Bitcoin has outpaced gold, pushing the value of one BTC above 18 ounces of gold, CoinDesk reported. The ratio of BTC’s price to the price of one ounce of gold rose to 18.17, its highest level since January. CoinDesk said the gains in both BTC and gold have been supported by high debt levels in major advanced economies and concerns over fiat currency dilution. Against that backdrop, U.S. Treasury Secretary Scott Bessent said at a G20 meeting on Aug. 31 that the world is carrying massive debt and needs to grow its way out of it. In a post on X, SkyBridge Capital founder Anthony Scaramucci described the remark itself as the investment case for BTC. CoinDesk added that, unlike fiat currencies, BTC’s supply cannot be increased by policy decisions, making it more attractive when fears of currency debasement intensify.