Bitcoin seems to be emerging from its lethargy by recently crossing the $65,000 mark. Despite this feat, he is still struggling to return to his former peaks. Meanwhile, gold, true to its reputation, repeatedly hits record highs. Between the status of a safe haven for one and the rise of investment funds for the other, the rivalry is becoming more and more intense. Let’s dive into the figures and trends of this economic duel.
Bitcoin vs Gold: Two worlds, two dynamics
In the ring of records, gold leads the fight with 30 peaks reached this year – including one in August after crossing the $2,500 mark, against only five for Bitcoin. However, it is not a question of popularity, but of financial flows. Bitcoin-Linked ETFs Have Raised $19 Billion Since Launchwhile gold-backed funds attracted only $1.4 billion, a stark contrast.
In terms of dynamism, Bitcoin seduces with its rapid and marked price movementswhere gold stays in a more predictable pattern.
- 30 records reached for gold in 2023;
- 5 records for Bitcoin (BTC);
- 19 billion dollars invested in Bitcoin ETFs, compared to 1.4 billion for gold.
Periods of economic uncertainty and inflation have always favored goldthe old safe haven. But the massive flows into Bitcoin ETFs reflect un change of state of mind among investors, who are increasingly inclined to favor volatility and the potential for quick gains.
ETF BTC: An ever stronger attraction
Recent ETF figures show record enthusiasm: more than 555 million dollars flowed in in one day towards Bitcoin investment funds in the United States, a first since June.
The big players are not left out, with funds like Fidelity Wise Bitcoin Origin Fund, which captured $239.3 millionand the Bitwise Bitcoin ETF with just over 100 million.
“ Ridiculous, this exceeds all expectations “, summarizes analyst Nate Geraci, noting the growing adoption by financial advisors and institutional investors.
Despite this enthusiasm, Ethereum-related products have not followed the same pathcausing BlackRock's disappointment: very few entries, or even net exits for certain offers, suggest a focused interest in Bitcoin.
Some analysts are wondering: faced with growing tensions in the Middle East and geopolitical uncertainties, will Bitcoin be able to survive against gold?
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