Bitcoin breakout against gold: Can Bitcoin more than double its gold ounces from 20 to 41 and make an all-time high?

The Bitcoin-to-gold spread hit an all-time high of 41 ounces of gold per BTC in December 2024, then fell to nearly 12 ounces in March 2026. After reaching a local high of 20 ounces this week, the spread could be heading back toward 41 ounces, potentially signaling a new all-time high for Bitcoin.