The price of gold, which has been setting new records for two years, today exceeded $4,800 (USD) per ounce for the first time in history. The rally intensified this week as the tariff war intensified and Japanese government bonds rose. And while many would like that, Bitcoin (BTC) doesn’t tell the same story.
Bulls claim Bitcoin is like digital gold despite its price Although recently down, this reflects behavior in line with risk assets. than in the case of precious metals. Prices have lost their psychological support of $90,000, raising concerns that they could reach even lower levels if momentum does not reverse.
For enthusiasts, Bitcoin shares important characteristics with gold in an improved way. Like precious metals, supplies are limited, but they are provided in a planned manner. This makes it predictable and able to withstand losses in purchasing power due to money creation and expansionary policies. Its rarity is fixed by code, up to 21 million BTC, and does not depend on physical or geological factors.
Bitcoin’s easily divisible, censorship-resistant, and transferable properties without intermediaries also strengthen its appeal as a store of value in a digitalized world. but, This paper is primarily built on the long term. As current trends show, in the short term, its price will continue to be driven by global liquidity and risk appetite.
Macroeconomic tensions benefit gold
Gold’s rally comes amid growing confidence in global financial stability. Mike Novogratz, former partner at Goldman Sachs and founder of cryptocurrency investment firm Galaxy Digital, said: Advances in precious metals were directly linked to the deterioration of the current monetary system.
“The price of gold shows that it is losing its status as a reserve currency at an accelerating pace,” he said, referring to the role played by the U.S. dollar. He also warned that the liquidation of long-term bonds, which CriptoNoticias has already reported, is not a good sign.
Seen from this perspective, gold acts as a thermometer to gauge fiscal and monetary imbalances in addition to geopolitical tensions. Historically, it has been positioned as a reserve of value in times of crisis.
On the other hand, Novogratz was critical of Bitcoin’s recent performance compared to gold. “BTC continues to sell, which is disappointing,” he noted.
Still, he maintained an optimistic long-term outlook. “I would like to reiterate that we need to get to $100,000-103,000 to regain the uptrend. I think that will happen over time,” he said.
Information asymmetry regarding safe assets
The fact that Bitcoin has not responded as a haven of value in the face of geopolitical escalation has been interpreted in opposite ways by various analysts. Market analyst Joe Consorti said: This difference does not invalidate the “digital gold” theory.
“Bitcoin’s collapse due to geopolitical escalation tells us how far ahead we are, not in competition with gold and silver,” he explained, amplifying his unwavering bullish voice. According to Consorti, this shows that “the largest information asymmetry in the market still exists.”
From this point of view, The market may not yet appreciate Bitcoin’s potential As a long-term store of value. “This kind of mispricing is the root of generational wealth,” the analyst said.
This argument is supported by the idea that Bitcoin still exists. In early implementation stageshort-term movements reflect more speculation than a structural assessment of fundamentals.
Bitcoin as an indicator of risk appetite
While some do not rule out that Bitcoin is better than gold as a long-term haven, others focus on Bitcoin’s performance as an indicator of risk assets.
Among them is strategist Mike McGlone. merchandise Warning from Bloomberg Can predict what will happen to the stock market. In this sense, note that although this market has fallen due to geopolitical tensions, it is still close to historical highs.
“Bitcoin as a loser to gold could lead the way,” he said. The analyst said the relationship between the two assets serves as a leading indicator of global risk appetite.
In this sense, if stock prices plummet this year, Gold’s strength against Bitcoin would have predicted the move. In another scenario, he warned, “support for Bitcoin could collapse” if the stock market reinvigorates resistance and the digital currency fails to recover against its previous store of value.
The contrast between gold at all-time highs and Bitcoin under pressure encapsulates short-term and long-term tensions. Although precious metals induce immediate risk aversion, digital currencies continue to be treated similarly to stocks by many investors.
nevertheless, The “digital gold” narrative persists among Bitcoin enthusiaststhey view each amendment as a stage within a broader adoption process. In his opinion, history is defined in years, not weeks, and if the world understands its value, it will prove to be the best refuge.
