Gold hits a new high vs. Bitcoin rebounds, the battle for safe-haven assets enters a white-hot stage
Yesterday, the price of gold set a new record, soaring nearly $3,430 per ounce. This strong trend is mainly due to investors' dual concerns about the continued escalation of the Sino-US trade war and the weakness of the US dollar.
Peter Schiff, a well-known gold bull, recently spoke out, predicting that if the Federal Reserve cuts interest rates sharply, the price of gold is expected to break through $3,500. He also issued a severe warning that the United States may face the "worst recession since the Great Depression", and even a 50% stock market crash may not bottom out. These remarks have driven more funds into the gold market, strengthening its traditional safe-haven status.
Just as gold was shining, Bitcoin also quietly rebounded to $94,392 today, hitting a four-week high. However, Schiff scoffed at this. He brought out volatility data for comparison, saying that gold's annual volatility is usually 10%-20%, while Bitcoin often exceeds 50%, "not suitable as a reserve asset at all."
But the counterattack from the cryptocurrency supporters was even more sharp. For example, Samson Mow, CEO of Jan3, believes that the price of Bitcoin may reach $1 million sooner than his previous prediction of 2031. Strategy, led by Michael Saylor, recently spent another $555 million to increase its holdings by 6,556 BTC. Even Robert Kiyosaki, author of Rich Dad Poor Dad, predicts that Bitcoin may reach $180,000 to $200,000 this year.
In summary, the competition between gold and Bitcoin as safe-haven assets is a reflection of investors' re-recognition of the traditional financial system. Gold has been firmly in the safe-haven throne with a thousand-year consensus, while Bitcoin has made a strong challenge with fixed supply and institutional endorsement. The struggle between the two is not only a battle of assets, but also a transfer and reshaping of market trust.
At the same time, some investors have begun to adopt a "dual-track parallel" strategy, allocating gold and Bitcoin at the same time to hedge different types of risks. This strategy reflects the market's general concern about the uncertainty of the traditional financial system and the pursuit of diversified asset allocation.
Which investment option do you prefer? Welcome to leave your opinions and investment logic in the comment area!
