Gold has dominated the world by acting as a safe-haven asset for many investors for as long as one can remember. However, with the US treasury recently touting Bitcoin as “digital gold,” a new paradigm shift is upon us to take note of. Bitcoin’s meteoric rise to $110K was momentous in many ways, challenging the decades-long legacy of gold as a potential safe haven asset. This brings investors to question the inevitable, enquiring whether Gold is truly losing its footing in the financial realm.

Also Read: Ripple: AI Predicts XRPs Price For January 1st 2025

Is Bitcoin The New Gold?

Bitcoin wearing a crown ,attacking gold bricks
Image Source: Watcher Guru

As the end of 2024 approaches hard and fast, the lingering questions related to which asset is more lucrative remain unchanged. The fight between Bitcoin and Gold has now become fierce as new changing paradigms are shifting gears, turning both assets into the next generation of safe-haven investments to keep an eye on.

However, between the two of them, Bitcoin seems to be the winning bet, taking the market by storm as of late. Bitcoin’s meteoric rise to $107K was nothing short of an inspiration. In terms of ETFs, it took several years for gold ETFs to hit new highs while Bitcoin ETFs managed to outpace gold ETFs in a go, with the BlackRock BTC ETFs, in particular, hitting $33.2B in assets in about 10 months.

At the same time, BTC’s historic price hike also gave birth to a new use case, with the US Reserve touting Bitcoin as “digital gold.” In addition to this, Jerome Powell, the head of the US SEC chair, also referred to Bitcoin’s use case as similar to that of gold, adding a new demand perspective for the token to enjoy and bask in.

Also Read: Cardano: Should You Buy ADA In 2025? Expert Boldly Claims Yes

Can The Precious Yellow Metal Ever Lose Its Sparkle?

Despite Bitcoin’s massive price popularity, the precious yellow metal is also giving stiff competition to other assets as new geopolitical narratives continue to fluctuate and show volatility. This development shows how gold will always prove to be a lucrative asset choice for investors, irrespective of the competition that it continues to receive as of late.

Per Rashad Hajiyev, AUX is eyeing a new price high of $3400 and has already commenced its track to claim the aforementioned price mark.

Also Read: El Salvador’s Bitcoin Stash Tops 6,000 BTC: A Model for National Crypto Investment?

“Another option for gold is a short-term breakdown of the rising trendline before gold breaks out higher towards the $3,400 target…”

  • bitcoin
  • GOLD
  • gold price