Why Bitcoin has the Upper Hand Against Gold, According to this Investor

Key Points

• Bitcoin (BTC) has underperformed compared to gold amid tariff uncertainty, but could potentially outperform in the long run.
• Gold has a history of leading rallies, with BTC often catching up and running harder.

Anthony Pompliano, a Bitcoin investor, recently shared his perspective on CNBC about the potential of BTC to outperform gold in the future. Despite the current economic uncertainty, Pompliano believes that gold’s lead in the market is often followed by a strong BTC rally.

Bitcoin vs. Gold

Historically, there has been a positive correlation between BTC and gold after periods of decoupling. However, as of 2025, gold has outperformed BTC by 37%. Despite this, there is still potential for BTC to regain its lost ground against gold.

Recently, BTC has been consolidating between $83K and $85K, while U.S. equities have seen a downward trend. Bloomberg ETF analyst Eric Balchunas commented on this resilience, stating that BTC’s performance shows toughness and counters the notion that it’s just a high beta version of tech.

Despite the resilience of BTC, overall demand and bullish conditions for the cryptocurrency remain elusive. The Bitcoin Bull Score Index by CryptoQuant indicates a ‘Bull Off’ season in the past 60 days, mirroring the weak conditions seen during the 2022 crypto winter.

Market Sentiment and Future Predictions

The overall market sentiment has been one of ‘fear’ since February. The end of ongoing tariff uncertainty could potentially determine a decisive rebound. However, until then, the uncertainty could tip gold to extend its winning streak against BTC.