BTSE Launches Bitcoin-Priced Gold Futures

BTSE Launches Bitcoin-Priced Gold Futures

BTSE, a cryptocurrency exchange based in the British Virgin Islands, announced Wednesday that a gold futures contract was launched. It is priced in Bitcoin.

Traditional investors love gold, while the new generation sees the value of Bitcoin. BTSE will be the first exchange to connect the two via a derivatives contract.

This will allow derivatives traders to speculate about the Bitcoin performance versus gold and forecast the future development.

Jonathan Leong, CEO at BTSE, commented on the new offering. He said that Bitcoin is becoming a matured store value. Both retail users and institutions are fascinated by the Bitcoin vs gold performance. We are thrilled to launch a BTC-priced gold index that will allow traders to trade and speculate on both assets’ performance.

The increasing demand for alternative assets

An announcement stated that the exchange’s index price for gold is calculated from TetherGold (XAUT).

Tether Gold was created last January by stablecoin issuer Etherum as it saw growing demand for this alternative asset. Each token is one troy ounce of fine gold. It has been issued on the Tron and Etheruem blockchains.

The futures will be listed along with other futures contract of Bitcoin Ethereum Litecoin and Monero as well as major perpetual contracts.

The exchange states that traders can speculate on the market using the gold futures but can also hedge against inflation.

“The debate over whether Bitcoin or gold is a better store of value is heating-up as more institutional investors and central banks and high-net-worth individuals realize the potential to maximize profits from Bitcoin’s antiinflationary design,” BTSE stated.

BTSE has launched a cryptocurrency-fiat debit card in addition to its crypto trading products.