Despite its 70% Price Drop, Bitcoin Surpassed Gold in Settlement Volume

Nic Carter, a well respected cryptocurrency researcher, has said that Bitcoin has surpassed the OTC gold market in settlement volumes, even amidst a 70 percent drop in its price. Bitcoin as a Better Medium of Exchange According to the clearing statistics of the London bullion market (LBMA), five major clearing members of the LPMCL including HSBC, ICBC Standard Bank, JP Morgan, Scotiabank and UBS, the global gold over-the-counter (OTC) market is on track to settle $446 billion in 2018, having settled less than $30 billion on a monthly basis since January. In contrast, based on the data provided by Coin … Continue reading Despite its 70% Price Drop, Bitcoin Surpassed Gold in Settlement Volume