Bitcoin to Gold Ratio
Bitcoin is at $81,679 and gold at $4,057 an ounce, so one bitcoin buys 20.1 ounces of gold. That is higher than on 74% of days since 2014. The ratio's highest close was 39.9 oz on December 17, 2024 (98% above today), and its lowest 0.144 oz on January 14, 2015.
Live: bitcoin and spot gold, Oct 22, 2026, 13:57 UTC
Bitcoin price ÷ gold price
Turning points
| Moment | Date | Ratio (oz) | Bitcoin | Gold |
|---|---|---|---|---|
| Start of the data | Sep 17, 2014 | 0.370 | $457.33 | $1,234 |
| 2017 bull market peak | Dec 16, 2017 | 15.5 | $19,497 | $1,254 |
| 2018 bear market low | Feb 7, 2019 | 2.60 | $3,399 | $1,309 |
| March 2020 crash | Mar 12, 2020 | 3.13 | $4,971 | $1,589 |
| 2021 bull market peak | Oct 20, 2021 | 37.0 | $65,993 | $1,785 |
| 2022 bear market low | Jan 3, 2023 | 9.04 | $16,680 | $1,846 |
| Highest ratio | Dec 17, 2024 | 39.9 | $106,141 | $2,662 |
Highest or lowest daily ratio within each episode, computed from the data.
How to read it
When the ratio rises, bitcoin is outperforming gold; when it falls, gold is doing better. Because both are priced in dollars, the ratio compares them directly and largely removes the effect of inflation and of swings in the dollar.
Bitcoin and gold are often compared as alternatives to holding cash, but they behave very differently: gold moves a few per cent in a typical month, bitcoin often ten times that. Neither pays income.
See how both compare with stocks on the bitcoin charts, chart other pairs in the market history chart builder, or check the live gold price.
The Bitcoin/Gold Ratio by Year
Ounces of gold per bitcoin at the last close of each year (current year: latest), with the year's highest and lowest daily ratio.
| Year | Year-end ratio | Change | Bitcoin | Gold | High | Low |
|---|---|---|---|---|---|---|
| 2026 YTD | 20.1 | 0% | $82,717 | $4,112 | 21.1 Jan 4 | 12.4 Feb 23 |
| 2025 | 20.2 | −43% | $87,509 | $4,341 | 38.6 Jan 6 | 19.2 Dec 26 |
| 2024 | 35.4 | +73% | $93,429 | $2,641 | 39.9 Dec 17 | 19.5 Jan 22 |
| 2023 | 20.4 | +125% | $42,265 | $2,072 | 21.9 Dec 8 | 9.04 Jan 3 |
| 2022 | 9.06 | −64% | $16,547 | $1,826 | 26.1 Jan 1 | 9.06 Dec 31 |
| 2021 | 25.3 | +65% | $46,306 | $1,829 | 37.0 Oct 20 | 15.5 Jan 1 |
| 2020 | 15.3 | +223% | $29,002 | $1,895 | 15.3 Dec 31 | 3.13 Mar 12 |
| 2019 | 4.73 | +62% | $7,194 | $1,520 | 9.22 Jun 26 | 2.60 Feb 7 |
| 2018 | 2.93 | −73% | $3,743 | $1,278 | 13.3 Jan 6 | 2.62 Dec 15 |
| 2017 | 10.8 | +1,193% | $14,156 | $1,306 | 15.5 Dec 16 | 0.651 Jan 11 |
| 2016 | 0.838 | +106% | $963.74 | $1,150 | 0.857 Dec 28 | 0.304 Feb 11 |
| 2015 | 0.406 | +50% | $430.57 | $1,060 | 0.438 Dec 15 | 0.144 Jan 14 |
| 2014 from Sep 17 | 0.270 | n/a | $320.19 | $1,184 | 0.370 Sep 17 | 0.259 Dec 30 |
Bitcoin/Gold Ratio FAQ
What is the bitcoin/gold ratio?
The price of one bitcoin divided by the price of one troy ounce of gold, both in US dollars. It shows how many ounces of gold one bitcoin buys, which compares the two directly without the dollar — so inflation largely cancels out.
What is the highest the bitcoin/gold ratio has been?
The highest daily close in our data is 39.9 ounces of gold per bitcoin, on December 17, 2024. Today it is 20.1.
What is the lowest?
About 0.144 ounces on January 14, 2015, when bitcoin closed at $178 and gold at $1,234. Since then the ratio has risen many times over, with deep falls in each bitcoin bear market — in 2022 it fell 64%.
Why use daily closes at 00:00 UTC?
Bitcoin trades around the clock, every day, while gold futures trade on weekdays. This page divides bitcoin's 00:00 UTC daily close by the latest COMEX gold close; on weekends and holidays the previous gold close is used.
Does a high or low ratio predict anything?
Some people watch it to judge whether bitcoin is "cheap" or "expensive" against gold, but the ratio has often more than halved or doubled within a single year, and past turning points were only clear in hindsight. It is a way of looking at history, not a forecast or investment advice.