One full bitcoin now buys a little more than 18 ounces of gold, the most since January

The bitcoin-to-gold ratio, which measures bitcoin's dollar price per coin against gold's dollar price per ounce, has climbed to 18.17, the highest since January, according to TradingView data. In plain terms, one bitcoin now buys a little over 18 ounces of gold. In dollar terms, the cryptocurrency is currently priced at around $81,000 across major exchanges, according to CoinDesk.

Both assets have been rallying after lagging the AI-driven stock market boom in the U.S. and parts of Asia. Analysts have pointed to growing fears that governments, including the U.S., may lean on debasing or devaluing their currencies to inflate away their debt.

Every major advanced economy except Switzerland now carries a debt-to-GDP ratio above 100%, and the U.S. leads the pack on primary deficit, the shortfall once interest payments are stripped out, which gives a cleaner read on how much a government is actually overspending before debt-servicing costs pile on.