Bitcoin (BTC) could follow the same path as value reserve assets in the middle of a volatile macroeconomic context, according to Hashdex, a Brazilian investment firm.
A recent report emphasizes that “as digital assets continue to gain global legitimacy, Bitcoin will become next to gold as an alternative to modern value reserves.”
Hashdex notes that “BTC could become a strong value in the coming months as investors seek resilience and diversified protection from systematic risk.”
Because gold’s market capitalization is significantly larger, it is reasonable to expect basic factors, such as the establishment of strategic BTC reserves and institutional adoption in the United States. It could have a significant impact on price Bitcointhe company is underlined.
With capitalisation of USD 2250 billion, gold is the world’s most capital asset. Meanwhile, Bitcoin has USD 1.860 million in capitalization and USD 1.866.2 billion in silver.
Gold reached a new historic maximum price of $3,500 last week. Meanwhile, Bitcoin rebounded to up to USD 95,000 in two months, 10% below the US$109,000 marked three months ago.
Metals are driven in the face of growing demand for protected assets in an environment characterized by inflation concerns, macroeconomic uncertainty and weakness in the US dollar, according to HashDex.
According to the company, Investors are looking for value reserves for riskwhich led to large capital entries in gold and Bitcoin. This trend, he says, reflects a strong pricing impulse on these assets amid growing global instability since 2023.
More institutions and states can invest in Bitcoin as digital gold
In addition to this context, HashDex adds the flexibility of rules associated with cryptocurrency applied to banks as a driver for Bitcoin. This, he says, “may facilitate the institutional adoption of digital assets on a global scale,” as cryptocurrencies are further integrated into the traditional financial system.
Additionally, the Arizona Senate Project You are trying to establish a reserve for your digital assets It was administered by the state and approved by the Chamber of Commerce Committee. According to HashDex, the advancement “may serve as a precedent for other states to follow the same path.”
In this sense, he concludes that “the strong performance of gold may be a sign that other assets with value reserve characteristics, such as Bitcoin, will soon be able to acquire impulses, as they are still behind the movement.”
Bitcoin is correlated with gold
According to Pearson’s correlation coefficient, Bitcoin prices have been correlated with gold since March. As reported by Cryptootics, this metric reached 0.54 points, approaching a maximum of 0.73 per year.
Meanwhile, Bitcoin has lost its correlation with key market behaviors such as the Nasdaq Composite (NDX) and the S&P 500 (SPX) index, as shown below.
Without going any further, So far, only in April, Bitcoin and Gold registered a 15% and 5% increase, respectivelywhich performed better than NDX, which rose 1.3%, while SPX fell 1%.
This action coincides with increasing recognition of Bitcoin as a value shelter comparable to gold. However, due to low capital, it has high price volatility, explaining the best UPS or reduction.
Various properties make Bitcoin attractive as a shelter asset. Supply is limited to 21 million units, making it rare. It also allows for global relocation that is resistant to censorship, does not depend on governments or central banks, and without intermediaries. Furthermore, its network and mining operations are decentralized, making it more difficult to operate or discontinue.
This is considered an improved version of digital gold or precious metals due to factors such as limited scheduled emissions and ease of digital storage and transfer. However, because its high volatility means it is traded as a risky asset, it is important to consider possible exercise scenarios before manipulating it.
