The price of gold has reached a new record of $1,133 per ounce. This price increase is due to concerns over trade wars and extensive gold purchases by central banks. Some experts believe this rise in gold prices could pave the way for a significant increase in Bitcoin purchases. Goldman Sachs has raised its year-end gold price forecast to $3,250 to $3,520. On the other hand, Bitcoin has experienced a decline of about 23% in the first quarter of 2025. However, experts argue that this poor performance does not weaken Bitcoin’s position as ‘digital gold.’ They argue that renewed interest in gold actually strengthens the proposed value of Bitcoin, as both assets reflect macroeconomic instability, inflation concerns, and growing distrust in fiat systems.
