The volatile performance of Bitcoin in mid-January at one point wiped off more than 40% of its value over the month. As prices continue to see-saw, another kind of pattern seems to be emerging, according to a January 17th Bloomberg report.

HODLers are sticking fast and hoping for better things, but it is not uncommon right now for bullion dealers to be welcoming anxious new customers, trading in their Bitcoin for gold.One London gold dealerhas been taking Bitcoin for the past three months, and reports regular trades worth over £1m. In Frankfurt, another dealer has seen its sales volume quintuple in the most recent crash, selling nearly 30kg of gold on January 16th at an approximate value of $1.2m.

Embarrassed millennials are turning up with laptops packed with bitcoins they mined back when they were worth only $1, and have to store the exchanged bullion for safety in the dealer’s underground vault. Bullion dealers don\'t generally trade directly, but through a third party, taking into account all requisite precautions against money laundering.

Many in the cryptocurrency industry have wondered since the beginning whether a virtual asset can be classed as a store of value. This report suggests that the gold dealers and new gold rush investors might be providing the answer.