Part 12/13:
Meanwhile, gold has hit new highs, but Bitcoin maintains its unique position. Correlation analysis shows that Bitcoin has low correlation with gold (0.23), instead aligning more closely with high-risk assets like stocks, especially tech-heavy indexes like the Nasdaq (correlation ~0.58-0.63). Gold’s divergence from Bitcoin suggests that investors see Bitcoin more as a risk asset than a safe haven.
The Gold vs. Bitcoin Debate
Critics like Peter Schiff celebrate gold’s rally, but the data indicates that Bitcoin’s behavior is more tied to risk appetite and macroeconomic signals than to traditional safe havens. The low correlation with M2 money supply and gold highlights Bitcoin’s unique position in the portfolio as a hedge against risk rather than inflation per se.