A Nov. 12 price comparison put Bitcoin at 18.4 troy ounces of gold, below half the 39.9-ounce reading for Dec. 17, 2024, underscoring a shift in the assets' relative prices.
That Nov. 12 calculation used a Bitcoin price of $71,343 and COMEX gold futures priced at $3,885 per troy ounce. The figure divides Bitcoin's dollar price by the quoted COMEX gold futures price per troy ounce.
At the start of 2026, the figure measured slightly less than 21 ounces. It was 12.4 ounces on Feb. 23.
A higher quotient means Bitcoin's price corresponds to a greater quantity of gold at the prices used; a lower reading means less. The comparison shows relative prices but cannot explain the forces behind either asset's moves.
