Bitcoin’s explosive rise to a new high above $118,000 has reignited an old rivalry: digital assets versus precious metals.
As BTC extends its lead over gold in year-to-date performance, the ideological battle between crypto supporters and gold loyalists is once again on full display.
Gold advocate Debra Robinson recently criticized Bitcoin’s price milestone, sparking a wave of backlash from the crypto community. While some, like investor Preston Pysh, attacked the opacity of gold ETFs, others took a more strategic approach. Macro analyst Lyn Alden suggested precious metals investors diversify slightly into Bitcoin to mitigate the risk of being left behind.
Alden noted that many gold investors have already rotated into BTC, whereas Bitcoin holders rarely look back. With Bitcoin gaining over 130% this year compared to gold’s 40%, she argued the digital asset’s superior returns have made it hard to justify rebalancing in gold’s favor.
Critics of Bitcoin continue to frame it as reckless speculation. Peter Spina, a known gold maximalist, dismissed BTC as gambling wrapped in hype. Yet others, like Bloomberg’s Eric Balchunas, see the gold camp’s resistance as more emotional than rational, pointing to pride as a barrier to adaptation.
While some believe both assets can coexist, the tone online suggests the divide is only deepening as Bitcoin marches further into the mainstream.
Alexander Stefanov
Reporter at Coindoo
Alex is an experienced financial journalist and cryptocurrency enthusiast. With over 8 years of experience covering the crypto, blockchain, and fintech industries, he is well-versed in the complex and ever-evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His approach allows him to break down complex ideas into accessible and in-depth content. Follow his publications to stay up to date with the most important trends and topics.
Source: https://coindoo.com/crypto-vs-gold-tensions-flare-as-bitcoin-breaks-records/