Bitcoin (BTC) has recently surged to a new All-Time-High (ATH), sparking a new wave of macro discussions on social media. Gold and cryptocurrency supporters once again find themselves at odds.
The pioneering role of cryptocurrency in mainstream finance continues to develop, threatening gold's status as a safe-haven asset.
Bitcoin Reaching a New All-Time-High Challenges Gold Supporters, No Conversion
The debate erupted after a sarcastic comment from gold enthusiast Debra Robinson, who emphasized Bitcoin crossing the $118,000 threshold.
Although intended to criticize Bitcoin's artificial nature, this comment received sharp rebuttals from some of the most respected macro thinkers in the cryptocurrency field, with investor Preston Pysh quickly responding.
"Imagine paying for artificial numbers on GLD that you can't even audit to see if they're real," the investor wrote.
Macro strategist Lyn Alden offered a more moderate perspective, suggesting gold holders adopt a combined strategy.
"Precious metal enthusiasts can buy a Bitcoin position around 5% of their metal position," Alden wrote.
According to Alden, this would help mitigate the risk of Bitcoin gradually gaining market share. The macro strategist, who has long emphasized balanced risk investment portfolios, also responded to a series of skeptics questioning the logic of diversifying into Bitcoin.
Meanwhile, other users argued that most gold holders have already owned Bitcoin, but not vice versa. Alden suggests that the strong shift of Bitcoin holders focusing on BTC is due to its significant superiority over gold.
"With Bitcoin's significant superiority over gold, it's difficult to convince someone to dilute/diversify in that direction," she added.
As the pioneering cryptocurrency continues to surpass traditional hedges like gold, the philosophical divide between "savers" and "speculators" seems to be growing.
Peter Spina, a precious metal maximalist, argues that Bitcoin supporters are promoting risks more akin to gambling than the conservative spirit of precious metals.
However, cryptocurrency observers view this resistance as part of a deeper emotional barrier, with Bloomberg ETF analyst Eric Balchunas calling for a change in mindset.
"Pride is a powerful drug. You see that a lot here—people sometimes can't accept failure," he added.
Balchunas's comment resonated with many in the Bitcoin community, who see gold maximalism as increasingly irrational in the face of market performance.
Bitcoin has risen nearly 140% YTD, while gold has only increased by over 40%.
Bitcoin (BTC) price performance compared to gold. Source: TradingViewAlthough some see room for both assets to coexist, the online tone suggests the competition remains fierce. As the Bitcoin story matures, its price continues to climb into uncharted territories.
