For centuries, gold has been the main landmark of financial stability, considered a true value deposit in periods marked by uncertainty. At present, however, his status is directly challenged by Bitcoin, often called “digital gold”.
For centuries, gold has been the main landmark of financial stability. Photo archive
During the month of May 2025, both assets were at historical maximums: Bitcoin fluctuated between 100,000 and 110,000 dollars, and gold exceeded $ 3,300 per ounce. In a climate marked by persistent inflation, geopolitical tensions and increasing institutional interest, the importance of the two assets is more relevant than ever, Vugar doors, operational director within Bitget, world leader in exchange for cryptocurrencies.
The recent ascension of Bitcoin was remarkable, reaching a peak of $ 111,875 before stabilizing around $ 105,000 at the end of May 2025. With about 19.87 million coins in circulation, its market capitalization approaches $ 2.1 trillion, exceeding Google and placing it in the 6th place.
In parallel, gold is also traded to historical maximums (around $ 3,300/ounce), with an estimated market assessment at 22 trillion, coming from about 208,874 tonnes. Despite the powerful rally of Bitcoin, its market size is still a fraction of that of gold.
As for volatility, the two assets are fundamentally different. According to Nydig data, in the first part of 2025, the annualized volatility of Bitcoin was about 52.2%, which makes it an extremely unpredictable asset. Gold, on the other hand, has a much more stable profile, with a volatility of about 15.5%. Bitcoin is designed for rapid and significant fluctuations, while gold offers gradual variations, which confirms its role as a stable deposit.
Gold and bitcoin, increasingly interesting for institutions
Both bitcoin and gold attract the interest of the big financial players, but through different channels. In 2024, Bitcoin obtained a new level of legitimacy with the approval of 11 ETFs Spot by the American SEC, which allowed the access of institutional and individual investors. Since then, billions of dollars have been invested in these funds, with Blackrock, Fidelity and Ark Invest among the main actors. The corporate treasury is also more and more active: Microstrategy owns over 580,000 BTC, and Japanese companies like Metaplanet constantly extend their crypto reserves, explains Vugar doors.
At the same time, gold remains the favorite of central banks. Only in 2023, they bought over 1,000 tons, and almost 29% of them intend to expand their gold reserves in 2025. However, Bitcoin gradually penetrates this area: at the beginning of 2025, the National Bank of the Czech Republic announced that it takes the allocation of 5% of its reserves of 140 billion euros, Step.
The larger macroeconomic context reinforces the position of both active as safe shelters in uncertain periods. With a persistent inflation in the US (2.3%CPI in April 2025, over 2%Fed target) and interest rates between 4.25%and 4.50%, gold registered an annual increase of 40%, while Bitcoin climbed even more powerful, being perceived as protection against the devaluation of the currency. The geopolitical instability also increase the attractiveness of both active. Gold thrives in crises, being supported by the confidence accumulated in centuries, and Bitcoin is increasingly seen as a “digital protection during crisis”, attracting capital from gold to Bitcoin instruments, as the appetite for risk evolves.
The two assets, between performance, regulation and accessibility
Regarding retrospective period 2015-2025, the performance of the two assets differs considerably. Bitcoin has increased from $ 314 to over 111,000 – a high yield, despite several market cycles. Gold, on the other hand, has evolved from about $ 1,060 to $ 3,300 per ounce, mainly driven by inflation and geopolitical tensions. Both have kept their purchasing power, but the potential difference is obvious, stresses the Bitget operating director.
Regarding the regulation, gold works in a well-established legal framework, with clear norms regarding storage, trade and taxation. Bitcoin, on the other hand, is still in defining his legal framework. Since the approval of ETFs, the debates on the regulation of cryptocurrencies have intensified. In the US, there is discussing national crypto reserves and clear fiscal directories, and in the EU, the Little Regulation advances to increase transparency. However, uncertainty persists, and legislative changes can significantly influence markets.
Bitcoin fundamentally redefines accessibility, being global 24/7, with minimal entrance barriers. Physical gold requires storage and insurance, and ETFs only work during the trading program. Both are liquid active, but Bitcoin attracts generations looking for speed, adaptability and autonomy, while gold remains the pillar of portfolios based on confidence and consecrated infrastructure.
Finally, gold remains the traditional symbol of wealth: resistant, trustworthy and loaded with history. Bitcoin, on the other hand, is the innovator in ascension: volatile, transformer and increasingly validated.
The wise approach to the next decade is not the choice of one to the detriment of the other, but to understand the unique advantages it offers. “Gold offers constant resistance, while Bitcoin brings explosive potential. Together, they can build a diversified protection strategy, anchored in tradition and latest generation. As global finances evolve, the essential question is not which is higher, but how much of each one should have a major event”shows the operational director of Bitget.
