The comparison of Bitcoin to gold is partly due to its relative scarcity. Like the limited supply of the precious metal, the Bitcoin blockchain is designed to automatically slow the pace of new coin creation through approximately four-year cycles, or the so-called halving. As a result, there will only be 21 million BTC in circulation.

With the arrival of the new administration in the U.S. and after Donald Trump took office as president, not only cryptocurrency experts began to note the similarity of Bitcoin to gold, but also officials. For example, Fed Chairman Jerome Powell stated that people use Bitcoin as virtual, digital gold, and do not use it as a payment method or a means of saving, noting that the leading cryptocurrency is "not a competitor to the dollar, it is a true competitor to gold." In the decree by U.S. President Donald Trump on March 6, describing the intention to create a government reserve of Bitcoin and other cryptocurrencies, it is also noted that "due to its rarity and security, Bitcoin is often referred to as 'digital gold.'"