Commodity markets took an unexpected turn in early 2026, with silver assuming a dominant position in a value race that challenges the supremacy it had achieved so far (BTC).
In January of this year, the metal hit an all-time high of $117, before stabilizing at $112 an ounce. In January 2019, the price per ounce of silver was just $15. The increase over the past seven years is significant.
This evolution will begin in earnest in early 2026. It shows that Bitcoin is losing ground. Against silver, the current valuation is around 781 ounces of silver per 1 BTC. This fact means that digital currencies will largely lose the relative advantage they have accumulated.
What happens then is that while silver rises significantly, Bitcoin undergoes a correction. This determined the ratio of silver to Bitcoin. fall to the lowest level. And while the general trend since 2019 remains largely in Bitcoin’s favor, silver’s cumulative performance has outperformed the digital currency from early 2021 to early 2026.
The following graph shows the long-term bullish trend in which Bitcoin has increased in value versus silver, highlighting the peak reached between 2024 and the end of 2025, when BTC’s market capitalization managed to surpass the metal’s market capitalization.
The outlook looks favorable for silver in this scenario, as Bank of America analyst Michael Widmer predicts silver could reach between $135 and $309 an ounce in 2026. This is based on the historical compression of the gold-silver ratio in the bull market for precious metals.
AI increases the price of silver
Analyst and investor Victor Delgunov argues that there are several underlying factors behind the rise in silver prices.
date between two people Global supply shortage and strong demand for metalsdue to advances in industrial applications and artificial intelligence (AI). Add to this the growing demand for safe assets against a backdrop of geopolitical uncertainty and rising money supply.
Silver in particular is key to the development of artificial intelligence. It is the metal that best conducts electricity and heat.. That quality is crucial in centers where AI models are trained and executed, where signals need to be transmitted at high speed without losing energy.
This entire process requires the use of silver, which helps make electrical connectors, switches, and contact layers for cutting-edge chips and semiconductors.
Thanks to metal, signals travel faster, with less loss, and components don’t overheat as much. Without this component, next-generation chips will be unable to handle extreme AI workloads without burning out or consuming excessive power.
Therefore, with the boom in AI technology; demand for silver increases.
China also supports silver
Another factor driving market growth is the high demand for silver as a store of value.
In this regard, the Bloomberg report points out that this record rally in silver is being supported by increased physical demand, coupled with speculative interest in a relatively illiquid market. In that sense, there are signs Chinese buyers are said to be leading the charge..
Experts have drawn attention to the fact that Asian investors are turning to silver as a more accessible alternative to gold. Faced with this situation, the government implemented a policy of restricting silver exports to shore up local supplies. pressure increases At international prices.
This demand is intertwined with the needs of modern technological infrastructure, of which silver is an essential component. The market is currently at an inflection point where there is a physical shortage of silver. Directly competing with Bitcoin’s digital scarcity At the preference of big capital.
But despite this growing interest, Delgunov urges caution. “While I remain bullish on silver in the medium to long term, this rally needs a pause in the short term.”
Quantum fear slows down Bitcoin
In contrast to what is happening with silver and gold, Bitcoin currently faces challenges that limit its value. momentum In this same macro environment. As reported by CriptoNoticias, current metal demand corresponds to a decision that has not yet been applied to Bitcoin.
One of the key risks remains, according to analyst Willy Wu’s hypothesis. Advances in quantum computingthe cryptographic system that protects users’ private keys could be compromised in the future.
Analysts point out that Convincing governments and contract agencies remains difficult They buy emerging assets like Bitcoin. This challenge is further complicated by growing concerns about quantum threats and what many consider Bitcoin’s “developer inaction” in the face of this risk. Therefore, some investment institutions, including the Chinese government, are considering silver as an alternative to gold.
In this sense, Bitcoin developer James O’Byrne points out that: Bitcoin’s performance in the market may be related to its development status.
“The community is completely divided, and important discussions about improving the network have stalled,” the expert said, adding that Bitcoin does not yet have enough of a history to be recognized as a well-proven asset and that the FUD (fear, uncertainty, and doubt) associated with quantum computing is “instilling real doubt in those on the sidelines.”
Protect from fiat currencies in the age of AI
The above factors highlight the contrasts that are relevant at the beginning of 2026. On the other hand, precious metals (gold and silver) are rebounding. And on the other hand, there is Bitcoin stagnation. situation likely to meet Reconfiguring trust within the financial system.
Agustín Cassis, CEO of La Crypta, an organization dedicated to the development and education of the Bitcoin ecosystem, points out: Interest in metals stems from investor concerns over fiat currency fragility.
This phenomenon is further strengthened when central banks implement aggressive monetary expansionary policies. Capital typically evacuates in these scenarios. Assets with planned or physical shortages It cannot be manipulated by political decisions.
But Cassis maintains a critical vision of metal’s functional utility in a digital future. “It’s hard to imagine how AI will use these ancient pebbles as a store of value or a unit of account. “Bitcoin is inevitable,” he says.
Silver is leading the current push thanks to its industrial importance beyond its role as a reserve and as a key component of hardware and semiconductors, but Cassis’ paper signals a paradigm shift.
Managers argue that as the economy becomes more automated, Gold and silver could relinquish historic dominance over Bitcoin. Assets designed to integrate natively into machine and human architectures alike.
