B2C2 Launches New Gold By-product Priced and Settled in Bitcoin
Macro gamers eye new BTC gold product
Chatting with trade information outlet The Block on Oct. 10, the corporate’s CEO Max Boonen said that the transfer comes on the again of accelerating demand from large-volume merchants.
“Shoppers commerce an oz. of gold priced in bitcoin, and the spinoff is settled in bitcoin,” he defined, including that one ounce (roughly $1,507) is the minimal attainable commerce amount.
Boonen additionally identified the market’s need for a Bitcoin-based gold spinoff:
“The purchasers we’re seeing demand from are those that have their very own consumer base of merchants and macro hedge funds.”
Highlight on Bitcoin contracts
As Cointelegraph reported beforehand, gold has seen a renaissance this yr as cryptocurrencies equivalent to Bitcoin additionally confirmed growing energy. A heated debate subsequently ensued, with gold proponent Peter Schiff claiming that the dear metallic would finally outperform Bitcoin.
In the meantime, B2C2’s product is conspicuous for utilizing Bitcoin because the settlement asset. Final month, that development continued with the launch of Bakkt’s bodily Bitcoin futures, payouts for which is able to likewise happen completely in BTC.