Matrixport released a daily chart analysis saying that the price of gold has repeatedly reached new highs, achieving nearly 80% excess returns over bitcoin in the past year, and the stage performance is quite outstanding.
In this round of the market, excess returns are more concentrated in traditional hedging assets such as gold, corresponding to falling interest rates, lower inflation, and market expectations that the Federal Reserve will turn more dovish in 2026.
While BlackRock has been reinforcing the "digital gold" narrative of bitcoin in recent years, central banks are still predominantly allocating reserves to gold, which is difficult to include in official reserves on a large scale due to its volatility, high visibility and political sensitivities.
In the medium to long term, the direction of US policy remains the most critical uncertainty: the Trump administration could theoretically choose to revalue the price of gold, sell some of its reserves, or diversify some of its reserves marginally into bitcoin.
Matrixport: Gold prevails in this safe-haven cycle, and bitcoin is currently difficult to be included in official reserve assets on a large scale
2025-12-23 03:10:14
Disclaimer:
1. The information provided does not constitute investment advice. Investors should make independent decisions and bear all risks themselves.
2. The copyright of this content belongs to the original author. The views expressed herein are solely those of the author and do not represent the stance or position of this website.
