Latest news with #US100
West Australian
an hour ago
- Business
- West Australian
Market ignores tariff noise as Iluka Resources emboldened by Uncle Sam's move to fix rare earths prices
Iluka Resources has yanked guidance for one of its mineral sands exports for the next quarter blaming tariffs, but is optimistic the Pentagon's recent swoop on a major rare earths miner bodes well for its own local ambitions. The listed miner recovered from a weaker quarter by delivering 150,000 tonnes of zircon and rutile from its Cataby operations in WA and the Jacinth-Ambrosia project in South Australia, it reported on Wednesday. But citing 'ongoing uncertainty and the broad range of potential outcomes on market dynamics', Iluka told investors it would not be providing guidance in terms of expected production, or pricing, for its zircon products. The commodity is among many caught up in sweeping tariffs imposed by the US and is set to be levied at 10 per cent from August 1, though Iluka noted that about 50 per cent of Uncle Sam's zircon imports come from South Africa. 'Titanium dioxide feedstocks and rare earth oxides remain exempt from tariffs,' Iluka said. Amid geopolitical tussles to secure rare earths supplies the United States Government bought more than $600 million worth of shares in California miner MP Materials, and inked an offtake to buy its product at a set minimum price. Iluka has long been pushing for rare earths prices 'independent pricing mechanisms that are not linked to the Asian Metals Index', in a bid to break China's stranglehold on the in-demand ingredient used in magnets for high-tech applications. And it told investors the agreed price of $US100 per kilo of rare earths products set between MP and the US Department of Defense was encouraging for its own rare earths refinery build at Eneabba. 'Iluka has previously provided a range of possible scenarios for utilisation of the Eneabba refinery at long-term forecast NdPr prices of $108/kg.' The group said locking in a price floor was 'an acknowledgement by the US government that higher prices for separated rare earth oxides are essential to building a sustainable Western and like-minded supply chain.' As part of its $1.65 billion funding deal with the Australian Government, the Eneabba rare earths refinery being built near Jurien Bay has strict restrictions imposed on future output being sold to China. So far $570 million has been spent on construction, with earthworks completed and concrete contractors making 'good progress'. Equipment has also started to arrive on site. Iluka shares closed the day up 4 per cent to $5.39.
The Advertiser
13 hours ago
- Health
- The Advertiser
Fifteen die of starvation in Gaza Strip, medics say
A six-week-old infant is among 15 people who have died of starvation in the Gaza Strip in the past 24 hours, local health officials say, with malnutrition killing Palestinians faster than at any point in the 21-month war. The family of the Gaza City child, Yousef, could not find baby formula to feed him, his uncle Adham al-Safadi said. "You can't get milk anywhere, and if you do find any it's $US100 for a tub," he said, looking at his dead nephew. Three of the other Palestinians who died of hunger over the last day were also children, including 13-year-old Abdulhamid al-Ghalban, who died in a hospital in the southern city of Khan Younis. Israeli forces have killed nearly 60,000 Palestinians in air strikes, shelling and shooting since launching their assault on the Gaza Strip in response to attacks on Israel by the Hamas militant group that killed 1200 people and captured 251 hostages in October 2023. For the first time since the war began, Palestinian officials say dozens are now also dying of hunger. The Gaza Strip's food stocks have run down since Israel cut off all supplies to the territory in March and then lifted that blockade in May with new measures it says are needed to prevent aid from being diverted to militant groups. At least 101 people are known to have died of hunger during the conflict, according to Palestinian officials, including 80 children, most of them in just the last few weeks. Israel, which controls all supplies entering the strip, denies that it is responsible for shortages of food. Israel's military said that it "views the transfer of humanitarian aid into Gaza as a matter of utmost importance" and works to facilitate its entry in co-ordination with the international community. It has blamed the United Nations for failing to protect aid it says is stolen by Hamas and other militants. The fighters deny stealing it. More than 800 people have been killed in recent weeks trying to reach food, mostly in mass shootings by Israeli soldiers posted near distribution centres of a new US-backed aid organisation. The UN has rejected this system as inherently unsafe and a violation of humanitarian neutrality principles needed to ensure that distribution succeeds. United Nations Secretary-General Antonio Guterres called the situation for the 2.3 million residents of the Palestinian enclave a "horror show". "We are seeing the last gasp of a humanitarian system built on humanitarian principles," Guterres told the UN Security Council. "That system is being denied the conditions to function." The Norwegian Refugee Council, which supported hundreds of thousands of Gazans in the first year of the war, said its aid stocks were now depleted and some of its own staff were starving. "Our last tent, our last food parcel, our last relief items have been distributed. There is nothing left," its director Jan Egeland told Reuters. "Israel is not yielding. They just want to paralyse our work," he said. The head of the UN Palestinian refugee agency said on Tuesday that its staff as well as doctors and humanitarian workers were fainting on duty in the Gaza Strip due to hunger and exhaustion. European Commission President Ursula von der Leyen said on Tuesday that images of civilians killed during the distribution of aid were "unbearable" and urged Israel to deliver on pledges to improve the situation. On Tuesday, men and boys lugged sacks of flour past destroyed buildings and tarpaulins in Gaza City, grabbing what food they could from aid warehouses. "We haven't eaten for five days," said Mohammed Jundia. Israeli military statistics showed on Tuesday that an average of 146 trucks of aid per day had entered the enclave over the course of the war. The United States has said a minimum of 600 trucks per day are needed to feed the Gaza Strip's population. "Hospitals are already overwhelmed by the number of casualties from gunfire. They can't provide much more help for hunger-related symptoms because of food and medicine shortages," said Khalil al-Deqran, a spokesperson for the health ministry. Deqran said 600,000 people were suffering from malnutrition, including at least 60,000 pregnant women. Symptoms among those going hungry include dehydration and anaemia, he said. Baby formula in particular is in critically short supply, according to aid groups, doctors and residents. A six-week-old infant is among 15 people who have died of starvation in the Gaza Strip in the past 24 hours, local health officials say, with malnutrition killing Palestinians faster than at any point in the 21-month war. The family of the Gaza City child, Yousef, could not find baby formula to feed him, his uncle Adham al-Safadi said. "You can't get milk anywhere, and if you do find any it's $US100 for a tub," he said, looking at his dead nephew. Three of the other Palestinians who died of hunger over the last day were also children, including 13-year-old Abdulhamid al-Ghalban, who died in a hospital in the southern city of Khan Younis. Israeli forces have killed nearly 60,000 Palestinians in air strikes, shelling and shooting since launching their assault on the Gaza Strip in response to attacks on Israel by the Hamas militant group that killed 1200 people and captured 251 hostages in October 2023. For the first time since the war began, Palestinian officials say dozens are now also dying of hunger. The Gaza Strip's food stocks have run down since Israel cut off all supplies to the territory in March and then lifted that blockade in May with new measures it says are needed to prevent aid from being diverted to militant groups. At least 101 people are known to have died of hunger during the conflict, according to Palestinian officials, including 80 children, most of them in just the last few weeks. Israel, which controls all supplies entering the strip, denies that it is responsible for shortages of food. Israel's military said that it "views the transfer of humanitarian aid into Gaza as a matter of utmost importance" and works to facilitate its entry in co-ordination with the international community. It has blamed the United Nations for failing to protect aid it says is stolen by Hamas and other militants. The fighters deny stealing it. More than 800 people have been killed in recent weeks trying to reach food, mostly in mass shootings by Israeli soldiers posted near distribution centres of a new US-backed aid organisation. The UN has rejected this system as inherently unsafe and a violation of humanitarian neutrality principles needed to ensure that distribution succeeds. United Nations Secretary-General Antonio Guterres called the situation for the 2.3 million residents of the Palestinian enclave a "horror show". "We are seeing the last gasp of a humanitarian system built on humanitarian principles," Guterres told the UN Security Council. "That system is being denied the conditions to function." The Norwegian Refugee Council, which supported hundreds of thousands of Gazans in the first year of the war, said its aid stocks were now depleted and some of its own staff were starving. "Our last tent, our last food parcel, our last relief items have been distributed. There is nothing left," its director Jan Egeland told Reuters. "Israel is not yielding. They just want to paralyse our work," he said. The head of the UN Palestinian refugee agency said on Tuesday that its staff as well as doctors and humanitarian workers were fainting on duty in the Gaza Strip due to hunger and exhaustion. European Commission President Ursula von der Leyen said on Tuesday that images of civilians killed during the distribution of aid were "unbearable" and urged Israel to deliver on pledges to improve the situation. On Tuesday, men and boys lugged sacks of flour past destroyed buildings and tarpaulins in Gaza City, grabbing what food they could from aid warehouses. "We haven't eaten for five days," said Mohammed Jundia. Israeli military statistics showed on Tuesday that an average of 146 trucks of aid per day had entered the enclave over the course of the war. The United States has said a minimum of 600 trucks per day are needed to feed the Gaza Strip's population. "Hospitals are already overwhelmed by the number of casualties from gunfire. They can't provide much more help for hunger-related symptoms because of food and medicine shortages," said Khalil al-Deqran, a spokesperson for the health ministry. Deqran said 600,000 people were suffering from malnutrition, including at least 60,000 pregnant women. Symptoms among those going hungry include dehydration and anaemia, he said. Baby formula in particular is in critically short supply, according to aid groups, doctors and residents. A six-week-old infant is among 15 people who have died of starvation in the Gaza Strip in the past 24 hours, local health officials say, with malnutrition killing Palestinians faster than at any point in the 21-month war. The family of the Gaza City child, Yousef, could not find baby formula to feed him, his uncle Adham al-Safadi said. "You can't get milk anywhere, and if you do find any it's $US100 for a tub," he said, looking at his dead nephew. Three of the other Palestinians who died of hunger over the last day were also children, including 13-year-old Abdulhamid al-Ghalban, who died in a hospital in the southern city of Khan Younis. Israeli forces have killed nearly 60,000 Palestinians in air strikes, shelling and shooting since launching their assault on the Gaza Strip in response to attacks on Israel by the Hamas militant group that killed 1200 people and captured 251 hostages in October 2023. For the first time since the war began, Palestinian officials say dozens are now also dying of hunger. The Gaza Strip's food stocks have run down since Israel cut off all supplies to the territory in March and then lifted that blockade in May with new measures it says are needed to prevent aid from being diverted to militant groups. At least 101 people are known to have died of hunger during the conflict, according to Palestinian officials, including 80 children, most of them in just the last few weeks. Israel, which controls all supplies entering the strip, denies that it is responsible for shortages of food. Israel's military said that it "views the transfer of humanitarian aid into Gaza as a matter of utmost importance" and works to facilitate its entry in co-ordination with the international community. It has blamed the United Nations for failing to protect aid it says is stolen by Hamas and other militants. The fighters deny stealing it. More than 800 people have been killed in recent weeks trying to reach food, mostly in mass shootings by Israeli soldiers posted near distribution centres of a new US-backed aid organisation. The UN has rejected this system as inherently unsafe and a violation of humanitarian neutrality principles needed to ensure that distribution succeeds. United Nations Secretary-General Antonio Guterres called the situation for the 2.3 million residents of the Palestinian enclave a "horror show". "We are seeing the last gasp of a humanitarian system built on humanitarian principles," Guterres told the UN Security Council. "That system is being denied the conditions to function." The Norwegian Refugee Council, which supported hundreds of thousands of Gazans in the first year of the war, said its aid stocks were now depleted and some of its own staff were starving. "Our last tent, our last food parcel, our last relief items have been distributed. There is nothing left," its director Jan Egeland told Reuters. "Israel is not yielding. They just want to paralyse our work," he said. The head of the UN Palestinian refugee agency said on Tuesday that its staff as well as doctors and humanitarian workers were fainting on duty in the Gaza Strip due to hunger and exhaustion. European Commission President Ursula von der Leyen said on Tuesday that images of civilians killed during the distribution of aid were "unbearable" and urged Israel to deliver on pledges to improve the situation. On Tuesday, men and boys lugged sacks of flour past destroyed buildings and tarpaulins in Gaza City, grabbing what food they could from aid warehouses. "We haven't eaten for five days," said Mohammed Jundia. Israeli military statistics showed on Tuesday that an average of 146 trucks of aid per day had entered the enclave over the course of the war. The United States has said a minimum of 600 trucks per day are needed to feed the Gaza Strip's population. "Hospitals are already overwhelmed by the number of casualties from gunfire. They can't provide much more help for hunger-related symptoms because of food and medicine shortages," said Khalil al-Deqran, a spokesperson for the health ministry. Deqran said 600,000 people were suffering from malnutrition, including at least 60,000 pregnant women. Symptoms among those going hungry include dehydration and anaemia, he said. Baby formula in particular is in critically short supply, according to aid groups, doctors and residents. A six-week-old infant is among 15 people who have died of starvation in the Gaza Strip in the past 24 hours, local health officials say, with malnutrition killing Palestinians faster than at any point in the 21-month war. The family of the Gaza City child, Yousef, could not find baby formula to feed him, his uncle Adham al-Safadi said. "You can't get milk anywhere, and if you do find any it's $US100 for a tub," he said, looking at his dead nephew. Three of the other Palestinians who died of hunger over the last day were also children, including 13-year-old Abdulhamid al-Ghalban, who died in a hospital in the southern city of Khan Younis. Israeli forces have killed nearly 60,000 Palestinians in air strikes, shelling and shooting since launching their assault on the Gaza Strip in response to attacks on Israel by the Hamas militant group that killed 1200 people and captured 251 hostages in October 2023. For the first time since the war began, Palestinian officials say dozens are now also dying of hunger. The Gaza Strip's food stocks have run down since Israel cut off all supplies to the territory in March and then lifted that blockade in May with new measures it says are needed to prevent aid from being diverted to militant groups. At least 101 people are known to have died of hunger during the conflict, according to Palestinian officials, including 80 children, most of them in just the last few weeks. Israel, which controls all supplies entering the strip, denies that it is responsible for shortages of food. Israel's military said that it "views the transfer of humanitarian aid into Gaza as a matter of utmost importance" and works to facilitate its entry in co-ordination with the international community. It has blamed the United Nations for failing to protect aid it says is stolen by Hamas and other militants. The fighters deny stealing it. More than 800 people have been killed in recent weeks trying to reach food, mostly in mass shootings by Israeli soldiers posted near distribution centres of a new US-backed aid organisation. The UN has rejected this system as inherently unsafe and a violation of humanitarian neutrality principles needed to ensure that distribution succeeds. United Nations Secretary-General Antonio Guterres called the situation for the 2.3 million residents of the Palestinian enclave a "horror show". "We are seeing the last gasp of a humanitarian system built on humanitarian principles," Guterres told the UN Security Council. "That system is being denied the conditions to function." The Norwegian Refugee Council, which supported hundreds of thousands of Gazans in the first year of the war, said its aid stocks were now depleted and some of its own staff were starving. "Our last tent, our last food parcel, our last relief items have been distributed. There is nothing left," its director Jan Egeland told Reuters. "Israel is not yielding. They just want to paralyse our work," he said. The head of the UN Palestinian refugee agency said on Tuesday that its staff as well as doctors and humanitarian workers were fainting on duty in the Gaza Strip due to hunger and exhaustion. European Commission President Ursula von der Leyen said on Tuesday that images of civilians killed during the distribution of aid were "unbearable" and urged Israel to deliver on pledges to improve the situation. On Tuesday, men and boys lugged sacks of flour past destroyed buildings and tarpaulins in Gaza City, grabbing what food they could from aid warehouses. "We haven't eaten for five days," said Mohammed Jundia. Israeli military statistics showed on Tuesday that an average of 146 trucks of aid per day had entered the enclave over the course of the war. The United States has said a minimum of 600 trucks per day are needed to feed the Gaza Strip's population. "Hospitals are already overwhelmed by the number of casualties from gunfire. They can't provide much more help for hunger-related symptoms because of food and medicine shortages," said Khalil al-Deqran, a spokesperson for the health ministry. Deqran said 600,000 people were suffering from malnutrition, including at least 60,000 pregnant women. Symptoms among those going hungry include dehydration and anaemia, he said. Baby formula in particular is in critically short supply, according to aid groups, doctors and residents.
Perth Now
15 hours ago
- Health
- Perth Now
Fifteen die of starvation in Gaza Strip, medics say
Israel says measures are needed to prevent aid from being diverted to militants in the Gaza Strip. (AP PHOTO) Israel says measures are needed to prevent aid from being diverted to militants in the Gaza Strip. (AP PHOTO) Credit: AAP A six-week-old infant is among 15 people who have died of starvation in the Gaza Strip in the past 24 hours, local health officials say, with malnutrition killing Palestinians faster than at any point in the 21-month war. The family of the Gaza City child, Yousef, could not find baby formula to feed him, his uncle Adham al-Safadi said. "You can't get milk anywhere, and if you do find any it's $US100 for a tub," he said, looking at his dead nephew. Three of the other Palestinians who died of hunger over the last day were also children, including 13-year-old Abdulhamid al-Ghalban, who died in a hospital in the southern city of Khan Younis. Israeli forces have killed nearly 60,000 Palestinians in air strikes, shelling and shooting since launching their assault on the Gaza Strip in response to attacks on Israel by the Hamas militant group that killed 1200 people and captured 251 hostages in October 2023. For the first time since the war began, Palestinian officials say dozens are now also dying of hunger. The Gaza Strip's food stocks have run down since Israel cut off all supplies to the territory in March and then lifted that blockade in May with new measures it says are needed to prevent aid from being diverted to militant groups. At least 101 people are known to have died of hunger during the conflict, according to Palestinian officials, including 80 children, most of them in just the last few weeks. Israel, which controls all supplies entering the strip, denies that it is responsible for shortages of food. Israel's military said that it "views the transfer of humanitarian aid into Gaza as a matter of utmost importance" and works to facilitate its entry in co-ordination with the international community. It has blamed the United Nations for failing to protect aid it says is stolen by Hamas and other militants. The fighters deny stealing it. More than 800 people have been killed in recent weeks trying to reach food, mostly in mass shootings by Israeli soldiers posted near distribution centres of a new US-backed aid organisation. The UN has rejected this system as inherently unsafe and a violation of humanitarian neutrality principles needed to ensure that distribution succeeds. United Nations Secretary-General Antonio Guterres called the situation for the 2.3 million residents of the Palestinian enclave a "horror show". "We are seeing the last gasp of a humanitarian system built on humanitarian principles," Guterres told the UN Security Council. "That system is being denied the conditions to function." The Norwegian Refugee Council, which supported hundreds of thousands of Gazans in the first year of the war, said its aid stocks were now depleted and some of its own staff were starving. "Our last tent, our last food parcel, our last relief items have been distributed. There is nothing left," its director Jan Egeland told Reuters. "Israel is not yielding. They just want to paralyse our work," he said. The head of the UN Palestinian refugee agency said on Tuesday that its staff as well as doctors and humanitarian workers were fainting on duty in the Gaza Strip due to hunger and exhaustion. European Commission President Ursula von der Leyen said on Tuesday that images of civilians killed during the distribution of aid were "unbearable" and urged Israel to deliver on pledges to improve the situation. On Tuesday, men and boys lugged sacks of flour past destroyed buildings and tarpaulins in Gaza City, grabbing what food they could from aid warehouses. "We haven't eaten for five days," said Mohammed Jundia. Israeli military statistics showed on Tuesday that an average of 146 trucks of aid per day had entered the enclave over the course of the war. The United States has said a minimum of 600 trucks per day are needed to feed the Gaza Strip's population. "Hospitals are already overwhelmed by the number of casualties from gunfire. They can't provide much more help for hunger-related symptoms because of food and medicine shortages," said Khalil al-Deqran, a spokesperson for the health ministry. Deqran said 600,000 people were suffering from malnutrition, including at least 60,000 pregnant women. Symptoms among those going hungry include dehydration and anaemia, he said. Baby formula in particular is in critically short supply, according to aid groups, doctors and residents.
West Australian
a day ago
- Business
- West Australian
BHP hits year-to-date share price peak as iron ore reaches $US105/t on China's big dam build and steel cuts
China's mega-dam build helped spark an iron ore price revival that has lifted shares in Australia's largest mining company to a 2025 high, but Beijing's clampdown on steel mill cannibalisation is stoking uncertainty. Iron ore futures in Singapore jumped $US1.60 per tonne on Tuesday to trade at $US105/t ($161) after leaping over the $US100/t ($153) barrier late last week. This benchmark price has now rallied 11 per cent since touching lows of $US92/t ($141) less than a month ago — defying predictions by local and international banks that the commodity's value drop would below $US90/t ($138) this year. Iron ore's recent price spike has been attributed to China starting construction on the world's biggest hydropower dam in Tibet. The dam, once complete, will reportedly generate the same amount of energy each year as the entire United Kingdom. The $255 billion infrastructure project requires significant volumes of steel and subsequently boosts demand for steel-making ingredient iron ore. Shares in Australia's major iron ore producers have recorded strong gains over the past few trading days and continued the ascent on Tuesday. Stock in BHP, Australia's biggest miner by market value, rose 2.6 per cent to $41.51 —its highest level since December. Rio Tinto finished up 3.4 per cent at $118.32 and Fortescue lifted 3.3 per cent to $17.81. But Commonwealth Bank analyst Vivek Dhar said the Tibet dam breaking ground was 'unlikely' the sole reason iron ore has rebounded beyond $US100/t. 'We continue to attribute most of the price increase to supply‑side reform in the steel sector,' he said. 'These reforms primarily aim to curb 'involution,' whereby intense competition and overcapacity has crushed margins across several industries.' Competition between China's steel mills has eaten into profit margins, jeopardising the steady supply of steel to the Asian powerhouse's key manufacturing and property sectors. This has led Beijing to intervene with orders limiting steel output across China. How this plays out for iron ore in the longer-term is difficult to predict, according to Mr Dhar. Mandated steel output cuts mean mill owners are usually willing to pay a premium for iron ore, but lower output means an iron ore oversupply could then emerge and drag the commodity's price down. Mr Dhar believes the oversupply scenario is likely. 'It is this logic that underpins our view that the recent rally in iron ore prices is unsustainable,' he said. 'It's worth noting that it is possible for supply‑side reform in China's steel sector to result in sustainably higher iron ore prices. We would need to see outdated and unused steel capacity exit the market.' Citi analyst Paul McTaggart echoed Mr Dhar's sentiment. 'Citi remains cautious on this iron ore rebound; steel production cuts in China should favour steel pricing rather than iron ore pricing,' Mr McTaggart told clients. 'However, for now the interest seems to lie with iron ore and its exposed equities.' Mr Dhar said CBA is predicting iron ore will fall to $US95/t by year's end. Australia's biggest bank had originally expected iron ore to sink to $US80/t this year.
Perth Now
2 days ago
- Business
- Perth Now
Warning over new Bitcoin home loans
Australians have a new way of getting into the mortgage market via their Bitcoin holdings, but potential homeowners are being urged to take a deep breath before jumping into one of these products. In an Australian first launched last week, Bitcoin holders can use the asset like they would traditional money for a home loan. Mortgages Plus director and principal Chris Dodson told NewsWire that cryptocurrencies were maturing as an asset class, but he urged caution when using them for a home loan. Australians are being urged to weigh up the pros and cons of new Bitcoin-backed loans. Close-up generic Credit: istock 'I like the idea of people thinking of innovation and reassessing digital currencies as an asset class,' he said. 'But the volatility is a concern, as it wasn't too long ago Bitcoin fell below $US100 and two weeks later it's up to $US120,000, so that was a pretty wild swing.' Mr Dodson said the new launch was 'not a bad thing' but wanted to make sure everything was signed off prior to considering it for clients. 'I welcome the innovation and recognise the asset class is maturing but also we need to make sure our clients are looked after,' he said. Block Earner said it would become Australia's first Bitcoin-backed home loan provider after winning a lengthy court case with ASIC, successfully arguing it did not require a financial services licence to offer its products. In a statement, Block Earner said it would continue to work collaboratively with the regulators to bring clear benefit to Australian consumers. 'Block Earner continues to operate business-as-usual and remains fully committed to compliance, innovation, and building products that benefit Australian consumers,' it said. With the court proceedings out of the way, Block Earner is set to launch Australia's first Bitcoin-backed loan, which it says will help with Australia's housing affordability woes. They are the first in Australia. NewsWire /Joel Carrett Credit: News Corp Australia Interest rates will start at 9.50 per cent per annum with a 40 per cent loan-to-value ratio (LVR) and comparison rates of 11.93 per cent per annum with an 80 per cent LVR. The fixed rate is 11.50 per cent per annum for 12 months with 50 per cent LVR, while the comparison fixed rate is 12.17 per cent with 80 per cent LVR. But mortgage holders will still be able to hold onto their Bitcoin. This could mean they benefit from any potential upswing or owe more if the value of Bitcoin falls. 'Traditional affordability metrics, based on wage growth and Australian dollar figures, suggest a worsening housing crisis,' Block Earner said. 'But when homes are priced in inflation-resistant assets such as Bitcoin and gold, the picture shifts, and long-term holders of these assets may find their relative purchasing power has increased. 'In 2016, the average Australian home cost 627 BTC (bitcoin) or approximately 350 ounces of gold. By 2024, that had dropped to just 4.3 BTC or approximately 170 ounces of gold.' Block Earner chief executive and co-founder Charlie Karaboga said last week the launch of crypto-backed home loans was a turning point for property finance and digital assets. 'Crypto holders shouldn't have to choose between holding Bitcoin and buying a home,' he said. 'We're giving them a smarter option, a way to put their crypto to work without giving it up. 'This product isn't just innovative, it's inevitable.'
