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In recent months, especially in the lead-up to Bitcoin’s all-time high of $126,000, you would have likely seen many posts comparing the price of an iPhone (or a median US house price) in 2009 to now, versus BTC. 
 
Now that gold (XAU) has doubled down on its blistering performance over the past five years by smashing through the $3,500 and $4,000 per ounce price targets in less than four months, some might start questioning the likelihood of Bitcoin overtaking the world’s largest asset by market cap. 
 
According to CompaniesMarketCap (no relation to CoinMarketCap), gold is sitting at a $28.55 trillion circulating market cap, whereas Bitcoin’s at $2.16 trillion. 
 
Despite its recent surge, which is causing lots of chatter once again on the interwebs, especially between gold bugs and Bitcoin enthusiasts, Bitcoin has still been a much more profitable investment, as shown in the following interactive. 

Having been portrayed as a dunce for his anti-Bitcoin tweets and X posts over the years, Peter Schiff is clapping back. Gold has outperformed Bitcoin since August, leading to a strong BTC/XAU trend reversal as shown in the TradingView chart below.
 
One of Peter Schiff’s most memorable posts is from November 2019, when he said this:

He’s now doubled down on his failed prediction, claiming that: 

“Gold is more likely to hit $1 million than Bitcoin.”
 
X post on Oct. 17, 2025

Between Trump at the helm, arguments among Bitcoin and Ethereum/altcoin maxis, gold bugs and those who hate BTC and crypto in general, there’s never a dull moment in this space.

PTSD after another crypto market shakeout 

 
While gold’s price has dipped over the past few days (still holding $4,000 per ounce, for now), Bitcoin has also struggled to consistently remain above $110,000, but has remained $100K even with the market-wide collapse nearly two weeks ago.
 
Despite BTC going through this relatively unscathed, it has definitely spooked many retail investors who fail to distinguish between BTC and altcoins, let alone nuances in this market, such as Bitcoin’s fundamentals, cycles, macroeconomics and geopolitics, Google Trends data and the Crypto Fear and Greed Index. 
 
As such, Bitcoin and the crypto market will likely take longer than usual to recover. Risk-averse investors might be even more hesitant to inject significant liquidity in this asset class due to repeated warnings of the “AI bubble” bursting in 2025, which will likely have massive ramifications for tech stocks and, to a certain extent, digital assets.

Between the Terra Luna, FTX, 3AC, Celsius, and other collapses, along with COVID-19 market drops, previous bear markets, unfavourable regulatory periods, repeated and profound flush-outs, and escalations of a US-China tariff war, many everyday investors struggle to cope with the rollercoaster ride. 

Additional thoughts

Eventually, Bitcoin will overtake gold as the largest asset by market cap. 
 
A bold claim, considering that gold’s still $22 trillion ahead of Bitcoin, but hear me out. 
 
For starters, many Gen Y, Z and the newest kids on the block, Alpha, currently or will likely gravitate towards BTC rather than gold. 
 
Over time, these digital natives will start inheriting money and making it through work and various investments, some of which will go into BTC, more than gold. 
 
If it’s not Bitcoin, then it will be an altcoin with very high decentralisation and robust network security that emerges as an alternative store of digital value, but I doubt this will happen. 
 
Also, good luck directly paying with, transporting and sending millions of dollars’ worth of gold as opposed to BTC. 

The only other plausible workaround is that there will be widespread adoption of tokenised gold, probably Tether Gold (XAUT), a token, whose price is pegged to and backed by one fine troy ounce of gold. 
 
I believe BTC and gold-pegged tokens will be widely adopted as payment methods, each serving their own purpose and appealing to different types of people. 
 
With fiat currencies like the Lebanese pound, the Turkish lira, the Argentine peso, and the Venezuelan bolívar being debased like there’s no tomorrow, it’s no surprise that many people in these countries, let alone across the world, have turned to gold and BTC.

Bitcoin’s price compared to the Argentine peso (BTC/ARS), as of October 23, 2025. Source: CoinGecko. Go to TradingView for a direct link to the trading pair. 
 
 Don’t assume it’s all hunky dory in the USA and other highly-developed economies. The USD has lost 93% of its value since 1950. It’s just as bad, if not worse, for the GBP, CAD, EUR, AUD* and other currencies. 
 
*Introduced in February 1966.
 
I also expect Bitcoin’s scalability to consistently improve within 10 years. I am using this timeframe because it will take a long time to implement a major improvement on its network, considering how much money is at stake. 
 
Even if it doesn’t emerge as a reliable option for processing hundreds or thousands of payments per second, many will still be drawn to this as a form of “digital gold”. 
 
Mind you, some risk-averse investors would be more inclined to support a literal iteration of digital gold such as XAUT, considering its long-standing reputation as a safe-haven asset. 
 
Still, mock Bitcoin as much as you want, but to reiterate, it’s been a far better investment than gold over the past 5, 10 or even 15 years. 
 
When in doubt, zoom out.
 
Did you know? There is more gold in a ton of e-waste than in gold ore? 

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Disclaimers

• This blog post is for informational purposes only. It is not financial, legal, or investment advice. You are ultimately responsible for your decisions.

• My opinions in this piece may not reflect those of any news outlet, person, organisation, or entity listed here.

•Please do sufficient research before investing in any cryptocurrency assets, staking, NFTs, or other products associated with this space.

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