Bitcoin is nearing a significant milestone as it approaches its all-time high against gold. After hitting $98,000, it is recognized as an all-time high in US dollars, with a market cap close to $1.94 trillion. Bitcoin has also outperformed 2021 records against major US stock indexes. In recent weeks, Bitcoin has gained 55%, eclipsing gold's 46% rise since November 2021's crypto peak. Currently, the bitcoin-to-gold ratio stands just below 36.83, with a need to reach a ratio of 37.05 to match its last all-time high. A minor increase in Bitcoin’s price to $98,500 could achieve this, especially if gold prices remain stable. The US government’s crypto stash has increased to almost $21 billion, predominantly in Bitcoin, up from under $10 billion earlier in the year. In contrast, the German state of Saxony could have gained significantly more had it held onto its crypto assets. The article highlights the potential shifts in the cryptocurrency landscape with Bitcoin nearing a new price discovery phase.

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