B2C2 is a London company and has grown by helping cryptocurrency companies with their liquidity. They also offer over-the-counter (OTC) trading. Today B2C2 has announced that their new product will focus on gold derivatives, priced and traded against bitcoin.
First on the market
They claim to be the first to offer this on the cryptomarket. The new product enables institutional customers to trade gold through the B2C2 OTC service. These customers can rely on the opinion of the Financial Conduct Authority (type AFM of the UK), as they have approved the service.
Max Boonen, founder of B2C2, says in the press release: “We are delighted to launch the first gold / bitcoin product. The current macro environment, with all its uncertainties about economic growth and inflation, is forcing central banks to evaluate monetary policy. Consider how they handle interest rates. ”
“Contradictory stories abound, fueling market activity, and we expect demand for deflationary assets such as gold and bitcoin to grow.”
No gold in your hands
Customers trade at least one troy ounce of gold priced in bitcoin, and the derivatives are then settled in bitcoin.
In short: you can go long or short on the price of gold, without actually having gold in your hands. You earn or lose bitcoin with this.
Bitcoin and gold prices perform well
Gold and bitcoin both have a good year. At the beginning of this year, bitcoin was still worth 3,300 euros. At the moment that is 7,800 euros. A growth of no less than 136 percent.
The price of gold is a bit more conservative compared to bitcoin, but for gold what happens this year is fireworks. At the start of 2019, a troy ounce of gold was 1,115 euros. The value has risen by 22.6 percent to 1,367 now.
Keep an eye on the current rate yourself
Do you want to keep an eye on the bitcoin course? That is possible on our course page. Here you can find useful tools such as historical price overviews, an interactive chart and you can view return on investment.
But we also have a free app called BLOX. This is available for iOS and Android. In BLOX you will not only find the rate of bitcoin, but also that of all other popular cryptocurrency.
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