- Scientists recently produced synthetic gold after successfully crashing beams of lead ions into each other; analysts say this could be a win for Bitcoin (BTC).
- An analyst has pointed out that the value of gold could plummet, just like what happened after diamond was produced in the lab.
Bitcoin (BTC) has been tipped to become the world’s most valuable asset after researchers at the world’s highest particle energy accelerator, CERN’s Large Hadron Collider (LHC), supervised the transmutation of lead into gold. According to crypto analyst Ran Neuner, this groundbreaking experiment could negatively affect the value of gold and position Bitcoin as a dominant safe haven.
The Details
In explaining how modern scientists were able to achieve a milestone that could only be dreamt of by medieval alchemists, it was disclosed that the difference between lead and gold was scientifically acknowledged and taken advantage of. According to modern knowledge, the difference between an atom of lead and an atom of gold is just three more protons contained in the lead.
To attain this significant breakthrough, the world’s largest particle accelerator was used to crash beams of lead ions into each other. Fascinatingly, this was done at nearly the speed of light. Our research shows that while some of the ions collided, others did not. According to the scientists, some lead atoms successfully lost three of their protons, transmuting them into gold.
Specifically, colliders were reported to have created 86 billion gold nuclei (29 trillion grams). However, most of them lasted for only about a microsecond.
Bitcoin (BTC) Could be the Winner
While the latest development underscores the growing commitment and effort to synthetically produce gold, it is also reported to undermine its value by offsetting the scarcity aspect of the precious metal.
Explaining how this could affect the value, Neuner posted a diamond chart to highlight how the value has plummeted since scientists created lab-grown diamonds.
In the chart, it can be seen that the value of diamonds has significantly declined from the highest point in the first week of January 2022 to a very low level in the first week of January 2024. According to Neuner, the synthetic diamond cannot be differentiated from the original using the human eye or a magnifying glass. Above all, the cost is about 1% of the original.
Multiple analysts have highlighted Bitcoin’s potential to outshine gold in the past. As indicated in our recent blog post, MicroStrategy’s Michael Saylor has predicted that Bitcoin’s market cap could break the $280 trillion mark, establishing a new position as the global powerhouse. Speaking on this at the recently held Strategy’s Bitcoin for Corporations Conference, Saylor explained that this could be witnessed in the next 20 years.
Currently, Bitcoin has a market cap of $2.03 trillion, with a market share of 63%. Also, the price is still hovering above the support level at $103k, after declining by 0.3% in the last 24 hours and 2.75% in the last seven days.
According to our recent analysis, the asset may break down below the $99k level if buyers fail to hold their grip. However, holding above the current level could send the price to a new all-time high. As also mentioned in our previous news brief, Bitcoin could take advantage of the US’s rating downgrade to reach an unprecedented level.
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