Bitcoin (BTC) and gold have been major assets that investors turn to in times of uncertainty. In recent years, gold has outperformed Bitcoin due to tariff uncertainty and a weak sentiment surrounding BTC. Gold has seen a significant increase in value, while Bitcoin has experienced a drop in price. However, Anthony Pompliano, a BTC investor, and founder of Professional Capital Investments, believes that BTC could outperform gold in the long run.
Pompliano stated in a recent CNBC interview that when gold rallies, Bitcoin tends to follow suit, but with more intensity. The correlation between BTC and gold has been evident in the past, with periods of decoupling followed by positive correlation. Despite this historical connection, gold has outperformed BTC by 37% in 2025 based on the BTC/gold ratio. It remains to be seen if BTC can regain its lost ground against gold in the future.
BTC has shown resilience in the face of recent market fluctuations, consolidating between $83K and $85K. This stability has surprised some analysts, such as Bloomberg ETF analyst Eric Balchunas, who noted the strength of Bitcoin in comparison to U.S. equities. Balchunas mentioned that the significant purchases of BTC by entities like Michael Saylor and ETFs have strengthened the base of the cryptocurrency in the current market conditions.
However, despite these positive signs, the overall demand and bullish conditions for BTC have been lacking. The CryptoQuant Bitcoin Bull Score Index indicates a period of ‘Bull Off’ season in the past 60 days, reminiscent of the weak conditions seen during the 2022 crypto winter. The prevailing market sentiment has been one of ‘fear’ since February, with ongoing tariff uncertainty adding to the bearish outlook for BTC.
In the short term, gold could continue to outperform BTC due to the prevailing market conditions. However, Pompliano believes that BTC has the potential to outshine gold in the long run. As both assets continue to navigate through uncertain economic times, investors will be keeping a close eye on their performance and potential for growth. Only time will tell if BTC can reclaim its position as a leading asset in the market.
