Jeffrey Gundlach, the billionaire behind DoubleLine Capital, isn’t buying into the Bitcoin hype.
Known on Wall Street as the “Bond King,” Gundlach believes the crypto market could be setting up for pain if traditional assets stumble.
Instead of positioning Bitcoin as a hedge, Gundlach argues the opposite – that the coin is vulnerable when stocks or other risk assets sell off. “Crypto isn’t immune,” he suggested, warning that both Bitcoin and Ethereum could face heavy downside if equities roll over.
Gold Over Bitcoin
One reason Gundlach is unconvinced: gold has been the better performer in 2025. While Bitcoin enthusiasts still tout the coin as “digital gold,” the actual metal has quietly outpaced BTC this year. For Gundlach, that undermines the narrative of Bitcoin as a reliable store of value. “Momentum is gone,” he said, questioning whether the asset can live up to its billing.
Dismissing Crypto Finance Fads
Gundlach also distanced himself from the growing wave of corporate and institutional crypto strategies. To him, experiments like treasury allocations to Bitcoin feel no different than short-lived financial fashions of the past. He compared them to concepts such as Portable Alpha or 130/30 strategies, labeling the trend “gimmicky” and not worth adopting.
Market Snapshot
At the time of his comments, Bitcoin was trading around $114,800 and Ethereum near $4,374. Despite their strong year-to-date gains, Gundlach remains unconvinced that digital assets are ready to rival traditional safe havens. For him, the shine belongs to gold, not Bitcoin.
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Source: https://coindoo.com/bond-king-sounds-alarm-on-bitcoins-future/