Gold price to record $4,500 – what does this mean for Bitcoin?

The gold price has risen to a record of almost 4,500 dollars per ounce. That peak once again raises the question of what role Bitcoin (BTC) plays as an alternative to gold. Will the digital currency benefit from this, or will investors mainly opt for certainty for the time being?

Gold prices rise to record levels

The gold price reached a peak of $4,497 per ounce earlier today. The price has now fallen slightly to $4,483, but remains exceptionally high. Since the beginning of this year, the gold price has risen by no less than 71 percent, making 2025 the strongest year since 1979.

There are several causes behind the gold rally. Investors anticipate interest rate cuts by the US central bank, while geopolitical tensions and Donald Trump’s trade policy create additional uncertainty. As a result, the flight to safe havens such as gold is increasing.

The high demand for gold from central banks is also striking. They buy the precious metal to be less dependent on the US dollar and to protect themselves against economic shocks.

China plays a key role in this. Official figures from the International Monetary Fund (IMF) show only limited purchases, but trade data suggests the country has actually bought much more gold. It is estimated to be more than 250 tons. Other countries are also making big gains. For example, Poland bought more than 83 tons of gold this year.

Bitcoin is lagging behind, for now

The strong gold rally begs the question why Bitcoin is lagging behind. While gold is breaking new records, BTC is still 30.6 percent below its all-time high.

According to market analyst Mike S, this is easily explained. In a post on

According to him, this does not alter the theory of Bitcoin as digital gold. “When capital looks for protection, gold is the first to move. Bitcoin will follow suit once investors start looking for returns again.”

That analysis is endorsed by Dutch analyst Michaël van de Poppe, who states: “The higher gold rises, the higher BTC will ultimately go.”