Bitcoiners refer to Bitcoin (BTC) as digital gold and this narrative is expanding. It grows rapidly retail, institutional and corporate adoption in Bitcoin. The accelerated rise in the price of gold in recent months not only reflects a market in search of refuge, but also anticipates a phenomenon that could catapult Bitcoin to new horizons. While the precious metal quotes above $ 3,300, Bitcoin (BTC), known by its defenders as the «digital gold», gains land as an asset that combines the security of a shelter with the potential of a technological revolution. In a context of economic uncertainty and global commercial tensions, both assets are capturing the attention of investors, although with different motivations. While gold has been a traditional asset for those who seek stability in uncertain times and go to the known – cautious – Bitcoin attracts those who are attentive to the opportunities of the digital era and understand that it can have a much greater appreciation over time – the awake.
Gold shines in times of uncertainty
Gold shows no signs of stopping. After reaching a historical maximum of $ 3,500 per ounce, on April 21 and a brief fall, The precious metal has resumed its ascent, now quoting above 3,300 dollars an ounce.
Gold price in the last two months. Source: TrainingView. Such rebound occurs even when the S&P 500, a key index of the American stock market, has risen 17% since its minimum of April 7. Since 2020, the Gold ETF (GLD) has exceeded S&P 500 in 35 percentage points, with a 109% yield compared to 74% of the stock market index. This performance contrasts with the 2020, when GLD had a performance lower than the S&P 500 by 10%.
Uncertainty affects markets, but benefits gold and Bitcoin
Why does gold go up while the stock market is recovered? The answer lies in uncertainty. Commercial confrontation led by the United States has intensified global tensions. In April, President Donald Trump announced a regime of reciprocal tariffs to imports from more than 60 countries, with a particular approach in China, as reported by cryptootics. The tariffs About Chinese products they reached 245%, with progressive increases from 104% initial to 145%. In retaliation, China raised its tariffs on US products to 125%. This exchange of measures has fed the perception of instability, promoting the demand for shelter assets such as gold and bitcoin. In the case of cautious investors, a tangible asset with an ancient history as a reserve of value finds in El Oro. His relative stability makes it attractive in times of crisis. In addition, capital flows support this trend. Three weeks ago, the gold investment funds registered a record of 8,000 million dollars in net tickets, with a four -week mobile average of 4,000 million dollars, the highest in history.
Gold investment funds reached a record of capital tickets. Source: The Kobeissi Letter. Central banks are also kept at historically strong levels, while foreign US treasure bond holdings have fallen to 23% of government debt, the lowest level in 22 years. In parallel, Gold holdings as a percentage of world reserves have reached 18%, the largest in 26 years. «This is probably the strongest gold market of all time,» says the financial newsletter analysts, The Kobeissi Letter.
Bitcoin, a magnet for the awake
Bitcoin, on the other hand, attracts the awake, that is, those who see in technology an opportunity to redefine the concept of value. After Trump's announcement, known as the «Day of Liberation», BTC's price shot more than 10%, moving from stability around $ 85,000 to $ 97,000 last week. Currently, it quotes around $ 94,000, 13% below its historical maximum of $ 109,300 registered on January 20, as can be seen in the following graph.
Bitcoin price from its historical maximum in January to the present. Source: TrainingView. This pause in its upward impulse reflects the caution of investors to the next decision of the Federal Reserve (FED) on interest rates, scheduled for tomorrow, May 7, 2025. The words of the president of the Fed, Jerome Powell, will be crucial to anticipate the course of monetary policy. Even so, Bitcoin not only resists, but reinforces his narrative as «digital gold.» In April, gold and Bitcoin prices began to move in parallel, according to Pearson's correlation coefficient, showing a low correlation with stock indices such as Nasdaq Composite and S&P 500.
Bitcoin's high correlation with gold indicates that its prices are going in the same direction. Source: The Block. Between April 7 and 21, gold rose 15% and Bitcoin 12%, which Kobeissi analysts interpret as a «escape towards decentralized and protected assets against inflation.» This behavior suggests that Investors see in Bitcoin a value shelter comparable to goldbut with unique characteristics that make it attractive in the digital age.
Key and potential growth differences
Gold and Bitcoin represent two different approaches to preserve value. Gold, with a market capitalization of 22,000 billion dollars, is a mature market with a constant demand in jewelry, industry and investment. Its tangibility and universal acceptance make it reliable, but its growth is slower. Bitcoin, with a much lower capitalization – around 1.8 billion dollars – has a broader growth margin. For example, Strategy's executive president Michael Saylor, considers that he will reach $ 140,000 in this upward cycle, while in the long term, Cathie Wood, the founder and executive director of the Ark Invest asset management company, predicts that Bitcoin could reach 2.4 million dollars. This is due to factors such as institutional adoption and possible role as a strategic reserve in countries like the United States. Scarcity also plays an important role. Bitcoin's supply is limited to 21 million currencies, which generates bullish pressure as demand grows. Gold, although scarce, is still extracted, and its offer can increase with new discoveries. This dynamic He suggests that Bitcoin could have a more pronounced price impulse in the futureespecially if the adoption continues and its volatility decreases, as it has occurred gradually in recent years.
A context of commercial tensions and weakening of the dollar
Commercial tensions do not show signs of decreasing. The Trump administration has intensified the pressure, but has also fed hopes of trade agreements. On Monday, Trump said Some agreements could be completed this weekhighlighting that he will personally establish the terms. India, according to Bloomberg, could be one of the first countries to announce an agreement, with zero tariff proposals on steel, car components and pharmaceutical products on a reciprocal base. These signals have promoted stock markets, which seem to accept the narrative of an imminent resolution. The Kobeissi Letter analysts point out that gold rises as if the hopes of agreements were excessive, consolidating itself as a global shelter asset. Meanwhile, The US dollar index (DXY) has fallen almost 10% From the beginning of the commercial war, reaching a minimum of 52 weeks. A weakest dollar makes gold, called in dollars, more accessible to foreign investors, which reinforces its appeal. «Gold practically serves as the main indicator for tariffs,» says The Kobeissi Letter. In this context, Bitcoin also benefits. As Cryptonoticias reported, BTC follows the way of gold as an asset of value reserve in a volatile macroeconomic context, according to an analysis of the Hashdex investment firm. This company emphasizes that «as digital assets gain global legitimacy, Bitcoin is positioned next to gold as a modern value reserve alternative.» The company suggests that The digital currency could experience strong valuation in the coming monthsdriven by the search for resilient and decentralized assets against systemic risks.
Bitcoin adoption is accelerated
The narrative of «digital gold» is not just a metaphor; It is backed by increasing adoption at all levels. Retail, institutional and corporate investors are hugging Bitcoin at an accelerated pace. In the last three weeks, Bitcoin investment funds and other digital assets have captured 5.5 billion dollarsa drastic change after nine weeks of continuous exits. Only in the last week, tickets reached 2,000 million dollars. So far from 2025, accumulated tickets total 5,600 million dollars, raising assets under management to 156,000 million dollars, the highest level since February.
Investment products in digital assets registered a third consecutive in tickets. Source: Coinshares. This rebound reflects a change in trust and a reconfiguration of strategies. Investment funds, preferred by institutions, indicate that big players are repositioning. Bitcoin, as the main beneficiary of these tickets, is at attractive prices for those who bet on their long -term potential.
Cautious and awake: an choice of perspectives
The cautious prefer gold due to their historical stability and their ability to maintain value in crisis. However, the awake see in Bitcoin an opportunity for disruptive growth. Its decentralized nature, its independence of central governments and banks, and their potential to transform finance makes it attractive to those who seek innovation. While gold appeals to those who prioritize security, Bitcoin attracts those who are willing to navigate their volatility by potentially exponential returns.
In this context, gold could have a more limited growth margin. Its market is already saturated, with a capitalization that reflects centuries of value accumulation. Bitcoin, on the other hand, is at an early stage of adoption. Both gold and Bitcoin have a prominent place in the financial panorama. Their differences make them complementary in a diversified portfolio. While gold faces a possible ceiling in its growth due to its mature market, Bitcoin could continue to rise, driven by its scarcity and adoption.