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Bitcoin is The New Gold: Trading Volume Surpasses Volume of OTC Gold Trade

Bitcoin Vs Gold
Financial Specialist Nick Carter found that over the past months of 2018 the volume of BTC trade was $ 1.38 trillion, while the total volume of OTC gold transactions over the same time period is $ 446 billion.

Carter used data on gold clearing from the London Precious Metals Market (LBMA), which includes HSBC, ICBC Standard Bank, JP Morgan, Scotiabank and UBS. According to the information received, the monthly over-the-counter gold trade volumes are less than $ 30 billion, and silver is less than $ 5 billion. For comparison, the bitcoin trade volumes for the past month exceeded $ 136 billion, and this figure does not include trading volumes with stock exchanges, like BitMEX.

Volumes of over-the-counter gold trade reflect the true volumes of physical trade in precious metal, and bitcoin significantly exceeds them. This suggests that bitcoin is in high demand and attracts more market activity than physical gold (of course, the volume of trade in “paper gold” can be much larger).

Bitcoin has a number of advantages over gold, primarily due to a higher level of liquidity and security. Thus, BTC is better suited for international commerce and finance, and it seems that the market agrees with this.

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