As U.S. President Donald Trump’s latest announcement of 25% auto tariffs led to renewed tension in the global markets, investors flocked to gold.
It didn’t take long for the bullion to hit another record high as its price hit an all-time high (ATH) of $3,059.30 on March 27. The precious metal has hit 17 record ATHs in 2025 so far.
In contrast, Bitcoin, often dubbed the “digital gold” by crypto enthusiasts, has been rangebound in the $84,000-$88,000 price range for the past seven days. Despite traders’ expectations, BTC has failed to break out from the range. As per Kraken’s price feeds, it was trading at $87,156.91 at press time.
In fact, the broader crypto market has been in a downward spiral for the past few days as its market capitalization fell 1.3% within the last 24 hours to $2.95 trillion.
Gold bull and economist Peter Schiff was quick to react to the development in the markets. A well-known Bitcoin skeptic, Schiff posted on X (formerly Twitter) that gold was not rising due to uncertainty but due to a loss of confidence in the USD and the certainty that inflation will be much higher than 2%.
Schiff also highlighted the decline in the value of stocks, bonds, and Bitcoin amid a gold rally.
The market capitalization of gold has risen approximately $7 billion within a year to around $20.5 billion as of March 26. In contrast, Bitcoin’s market cap stood at a mere $1.7 trillion.
Gold has traditionally been viewed as a hedge against inflation. Crypto enthusiasts believe that Bitcoin, the so-called “digital gold,” should serve the same purpose. However, crypto still stands far behind traditional assets in terms of valuation.
