As gold continues to hit new highs, Bitcoin is quietly building its case to take over as the ultimate store of value. Prominent figures like Michael Saylor, co-founder of MicroStrategy, and Changpeng Zhao (CZ), Founder of Binance, have weighed in on the Bitcoin vs Gold debate, predicting a revolutionary shift in the financial economy.
Bitcoin vs Gold Debate Strengthens: What to Expect?
The XAU price is on a massive rally, overpowering other asset classes. As previously written by CoinGabbar, the yellow metal has become the first asset to surpass the $30 million market cap mark. This development has once again caught the attention on the prolonged Bitcoin vs Gold debate.
As of press time, the metal is valued at $4,324.32, marking a marginal dip of 0.41% over the past 24 hours. However, it is still up by 16% and 27% over the past month and six months, respectively. At the same time, BTC is valued at $108,042 down 2.79%. Over the past week and month, the digital asset has fallen by 3.95% and 6.9%, respectively.
In an X post, a prominent voice known as Colin Talks Crypto suggested that the precious mineral tends to lead the crypto’s moves, and if this pattern holds, the crypto could see a significant surge in November and December. It could potentially peak in late December or January.
BTC to Surge, Says CZ
Recently, Binance founder Changpeng Zhao, affectionately known as CZ, has commented on the matter, siding the cryptocurrency. In an X post, CZ predicted, “Bitcoin will flip gold.” He added,
“I don’t know exactly when. Might take some time, but it will happen. Save the tweet.”
Strategy Buy Sparks Hope
Amid the crypto market crash, Michael Saylor’s Strategy, formerly known as MicroStrategy, made another BTC purchase, further boosting its treasury. In a recent post on X, Saylor announced that the company acquired 168 coins for approximately $18.8 million at around $112,051 per coin. This also resulted in a BTC yield of 26.0% year-to-date.
In addition, Bitwise’s notion of capital rotation have further bolstered bullish beliefs on the cryptocurrency. According to Bitwise, a mere 3-4% shift of capital from mineral to crypto could potentially double the value of BTC from its current levels, signaling a significant bullish outlook for the cryptocurrency.
