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    Vikshita Vitthal Gujaran in Bitcoin

    06 Mar 10:34 AM


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    Bitcoin and gold broke new price records on the same day

    The new all-time highs marked the first time Bitcoin and gold hit new records simultaneously since the emergence of BTC.

    Bitcoin posted a new price record on March 5, breaking above $69,200 for the first time in history.

    The historic moment in the Bitcoin community coincided with successful developments in traditional financial markets, with gold reaching an all-time high on the same day.

    According to data from TradingView, spot gold broke its all-time high records at $2,130 at around 1:30 pm UTC on March 5, surpassing its previous highs around $2,000 set in early December.

    In less than two hours, Bitcoin also posted a historic high, reaching a $69,210 price mark at 3:00 pm UTC. Bitcoin’s new all-time high came more than two years after it surged to $69,000 on Nov. 9, 2021.

    The community quickly addressed the events as another “bad day for fiat money,” as both gold and Bitcoin are often seen as potential hedges against fiat currencies and inflation.

    Source - Coin Telegraph