Bitcoin Set to Surpass Gold Performance Over Coming Years, Predicts Lyn Alden
Investment strategist Lyn Alden observes that gold currently enjoys "somewhat euphoric" market sentiment, whereas Bitcoin faces "somewhat unfairly negative" treatment.
Macroeconomist Lyn Alden believes Bitcoin will likely deliver superior price performance compared to gold in the period leading up to 2029, following the precious metal's impressive recent surge.
"If I had to bet Bitcoin versus gold over the next two to three years, I would bet Bitcoin," Alden stated during her appearance on the New Era Finance podcast on Wednesday.
"Gun to my head, if I had to say which one I think outperforms, I would say Bitcoin," she continued.
"It's usually a pendulum between the two. If gold has gone up as much as it did, the entire diminishing return story per cycle is going to be erased in the coming one, too."
Numerous cryptocurrency industry leaders, including Coinbase CEO Brian Armstrong, have forecast that Bitcoin (BTC) will climb to $1 million by 2030 as regulatory clarity develops in the US, which Armstrong characterized as a "bellwether for the rest of the G20."
Alden dismisses that gold is in a bubble
Bitcoin frequently draws comparisons to gold as a safeguard against inflation and economic instability, with numerous investors referring to it as "digital gold."
Alden noted that gold is experiencing "somewhat euphoric" sentiment following its achievement of a new all-time high of approximately $5,608 in January.
"I wouldn't say it's a bubble, but it's somewhat euphoric," she stated.
The JM Bullion gold Fear and Greed Index, which monitors sentiment surrounding gold, registered a "Greed" score of 72 out of 100 on Friday. On that same day, the Crypto Fear and Greed Index, which gauges sentiment across Bitcoin and the wider crypto market, recorded an "Extreme Fear" score of 18 out of 100.
Alden remarked that the sentiment surrounding Bitcoin is "somewhat unfairly negative." Bitcoin is currently trading at $71,164, representing a 44% decline from its October all-time high of $126,000, according to CoinMarketCap.
Alden emphasized that she avoids placing too much weight on inflexible narratives regarding the relationship between these two assets.
"I try to be hesitant about reading into how absolute these things are. Gold and Bitcoin can go up together, they can go down together," she elaborated.
Investors debate Bitcoin's narrative
While these two assets are frequently categorized together as alternatives to fiat currencies, their relationship isn't always predictable; at times the prices move in synchronization during periods of macro uncertainty, and at other times they diverge.
Alden's observations follow shortly after billionaire investor Ray Dalio cautioned against Bitcoin as a long-term store of value and safe-haven asset, contending that it lacks central bank support and has ongoing concerns regarding its privacy limitations and quantum resistance.
"Gold is not a precious metal that's speculated on," Dalio remarked on Tuesday, adding it is the "most established money" that is the second-largest reserve asset held by central banks.
Meanwhile, CryptoQuant CEO Ki Young Ju said in October 2025 that Bitcoin's correlation with gold is increasing as both assets strengthen their reputations as hedges against macroeconomic uncertainty.