On October 22, Matt Hougan, the chief investment officer of Bitwise, wrote that gold has risen by nearly 60% since 2025, far exceeding the performance of BTC this year. The reason is that although central bank gold purchases are an important catalyst for the rise in gold prices in 2025, such purchases have started since 2022. That is to say: central banks start buying gold in 2022, while gold prices only experience parabolic (parabolic) gains in 2025.
Bitcoin is currently in the pre-gold 2025 phase. ETFs and corporates have bought 1.39 million BTC since 2024, and Bitcoin has added less than a quarter of its network supply in the same period. However, the price of BTC has not risen higher. It is currently hovering around $110,000, as price-sensitive holders profit during this period. But as the example of the gold price shows, one day these selling forces will be exhausted. As long as the joint buying trend of ETFs and corporates continues, BTC will have its own "gold price moment in 2025". He advises patience. The skyrocketing price of gold is a foreshadowing of the future direction of Bitcoin.
Bitwise: Be patient BTC will usher in its own "gold price moment in 2025"
2025-10-22 02:07:23
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