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Peter Brandt, a celebrated commodities trader with over five decades of experience, forecasts a significant ascent for Bitcoin against gold. Brandt, known for his accurate 2017 Bitcoin bull market prediction, now expects the bitcoin-to-gold ratio to soar to 100 ounces. Currently, purchasing one Bitcoin requires 29 ounces of gold, valued at $68,000. Should Brandt’s projection materialize, a single Bitcoin could be worth upwards of $234,000, marking a 230% increase.
This anticipated surge follows a potential consolidation period over the next 12 to 18 months. Brandt’s analysis, shared on social media, highlights Bitcoin’s historical performance, which has seen it gain over 375,000% against gold since its inception in 2009. This trend underscores Bitcoin’s growing appeal as a formidable alternative to traditional safe-haven assets.
The endorsement of US Bitcoin spot ETFs earlier this year further solidifies Bitcoin’s reputation as a reliable digital store of value. Brandt remains optimistic about Bitcoin’s potential, suggesting it will continue to dramatically outperform gold, drawing more institutional attention and investment into the crypto space.
