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The Morning Brew is a finance news outlet with a strength of 160.1K followers. The news outlet publishes updates from likes of Wall Street, Silicon Valley, and similar other financial giants. A recent tweet from @MorningBrew informed its followers that the ticker for gold had been replaced by Bitcoin. This tweet is pinned on the profile to get maximum interaction.
The contents of the tweet follow along the lines where followers of this account learned about the surprising head butt between the precious metal and flagship cryptocurrency. According to the digital news outlet, the ticker represents a flex spot. It means that the assets that are most trending on social media are awarded this position. For the most part, this ticker had been hogged by gold and petroleum.
Is BTC Trashing Gold and how it is Happening?
Bitcoin has already ended the bull run of gold that was in effect since 2020. Many financial analysts were thinking that Bitcoin and Gold would make it to the end of the decade showing side by side strength. However, the current trends are painting a different picture altogether. The ongoing stronghold of Bitcoin has started to assert its dominance on gold after reaching the $1 trillion market cap threshold.
At one end, Bitcoin has started to move into mainstream media and coffee conversations. On the other hand, it has continued the rising recruitment of institutional investors. It is expected that the steady rise of Bitcoin would keep pushing back gold and eventually take over its $10 trillion market cap. Morning brew has over 2.5 million subscribers, and this transition from gold to BTC is going to make big waves and start an intense dialogue.
Bitcoin Keeps on Rising and Conquering New Turfs
The ticker transition on the daily email newsletter is not just based on impulsive trending assets online. It is a mark for a celebratory vision for the upcoming landmarks for the flagship cryptocurrency. A few weeks ago, it seemed that gold would start to enter another peak. However, the outflows from the hedge funds were invested in BTC to create a new crypto scarcity.
For the time being, gold is redirected on its downtrend path against Bitcoin. The fiat currencies are not showing any signs of resistance against the visible dominance of Bitcoin, and the precious metal also seems to be preparing for an eventual submission. At the moment, Bitcoin is sharing a highlight ticker position with major stock indices like Dow, JP Morgan, NASDAQ, S&P 500, and 10 years Treasury-yield.
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