BVI – 10 JUN 2020 – BTSE, the leading financial technology company utilizing Bitcoin and cryptocurrency technologies to develop real-world financial products and services, has announced a new tool that enables traders to speculate on the performance of Bitcoin versus gold and predict the future development of the in-demand assets.
BTSE is the first exchange to launch Bitcoin-priced gold futures at a time when Bitcoin, an asset just over a decade old, is increasingly compared to the thousand-year-old store of value, gold. Instead of viewing the gold price in USD, users can see and predict the price per troy ounce of London fine gold in BTC. BTSE’s gold index price is derived from Tether Gold (XAUt).
BTSE’s Bitcoin-priced gold futures are in line with Bitcoin’s evolution into a globally recognized asset that continues to gain more attention not only as a speculative investment, but also as a hedge against inflation.
“Bitcoin is evolving into a matured store of value. The performance of gold versus Bitcoin fascinates both institutions and retail users, so we are excited to help traders directly trade and speculate on the performance of both assets in comparison with each other by launching a gold index that is priced in BTC,” said Jonathan Leong, CEO of BTSE.
Geopolitical events of 2020 have led more traders to look back to gold’s long-lasting level of reliability as country-to-country market volatility continues across the globe. Evidence shows that governments, institutions and traders are seeking new opportunities in alternative stable investments, in the form of Bitcoin.
The debate of whether gold or Bitcoin is a more reliable store of value is heating up as more institutional investors, central banks and high net-worth individuals recognize the potential to maximize profits on Bitcoin’s anti-inflationary design.
BTSE has recognized the growing interest in gold and Bitcoin as competing stores of value and officially launched the new futures product to enable users to directly speculate on the developments.
BTSE is a financial technology company that utilizes Bitcoin and cryptocurrency technologies to develop solutions that empower you to take control of your financial freedom. As part of a suite of financial services designed to introduce innovative digital assets to the traditional finance landscape, BTSE’s developments include spot and derivatives trading, OTC, and lending services.