Which will outperform in 2026?

So far in 2025, gold has outpaced Bitcoin with a nearly 37% year-to-date gain, compared with Bitcoins 22% rise.

Accordingly, Goldman Sachs suggested that the precious metal could climb to $5,000 per ounce if the Federal Reserves independence is undermined.

said analyst Samantha Dart in a note reported by .

The same scenario would likely see Bitcoin surge past all expectations as well, given its status as a leading digital hedge and the ongoing shifts in its market. Earlier this summer, Matt Hougan, the Chief Investment Officer at Bitwise, suggested the crypto could match gold in terms of valuation, predicting 1 BTC would be worth $1.2 million by that time.

Indeed, the aforementioned Bitcoin ETFs have drawn large-scale institutional flows, boosting the assets liquidity and bringing it into a closer relationship with the equity market.

Of course, gold funds have not been idle either. For instance, SPDR Gold Trust, the worlds largest ETF of its kind, saw its holdings rise 1.01% on Friday, reaching 977.68 tons, the highest in three years.

Accordingly, the complex dynamics between the two investments will necessitate a layered hedging approach. That is, while gold is likely to continue offering reliable protection against equity volatility, Bitcoin may serve as a counterbalance during periods of bond market stress.