Bitcoin Tops 18 Ounces of Gold, Highest Since January
Bitcoin and gold are widely treated as hard assets because their supply is constrained, making them potential stores of value when investors worry about currency debasement. Those concerns have intensified as governments carry heavy debt loads and markets consider whether policymakers may tolerate higher inflation to reduce those obligations in real terms. The bitcoin-to-gold ratio offers a gauge of the cryptocurrency’s performance against the traditional haven, rather than against the dollar alone.
In early September 2026, one full bitcoin bought slightly more than 18 ounces of gold, the highest level since January. Both assets have advanced as debt and inflation concerns supported demand for scarce alternatives to sovereign currencies, but bitcoin has risen substantially faster. The move above the 18-ounce threshold shows that the cryptocurrency has gained relative strength even as gold itself has climbed, signaling a more aggressive investor preference for bitcoin within the hard-asset trade.
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The history behind this eventBitcoin Seen as Monetary Asset, Undervalued 26% Relative to Gold
WisdomTree’s digital asset research argues that Bitcoin is evolving from a highly volatile risk asset into a monetary asset capable of competing with gold. Both have scarce supplies, are politically neutral and can serve as stores of value, making their relative valuations increasingly relevant to macro asset allocation.
As of July 20, 2026, WisdomTree’s analysis indicated that Bitcoin was about 26% undervalued relative to gold, suggesting its status as a monetary asset was not yet fully reflected in its price. The report provided no specific transaction value or research publication date, focusing instead on the valuation gap between the two assets.
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