Why does Gold shine and Bitcoin does not? The key lies in Central Banks ..
It is the question of the moment in the markets; if Bitcoin is "digital gold," why is it not hitting highs while physical Gold keeps rising? Gold has risen more than 70% this year, and the answer to this difference is not only in the graphs but in who is buying.
Unlike Bitcoin, Gold is already an official reserve asset. Central banks around the world accumulate it to protect themselves from geopolitical risks and inflation. Data from the World Gold Council shows that ETFs backed by this metal have grown almost every month of 2025.
It is a movement led by giant institutions seeking absolute security, while Bitcoin is still mostly seen as a "risk appetite" bet by retail investors.
Moreover, Bitcoin is still dealing with excessive leverage. Every time it tries to rise, many traders close positions to take quick profits, which hinders its advance. Gold, on the other hand, has a more constant and less speculative buying flow at this moment.
The big lesson is that, although both protect against the devaluation of money, Gold is the refuge of governments, while Bitcoin remains the refuge of the new technological generation.
Goldman Sachs even forecasts that gold could reach $4,900 in 2026, indicating that this trend of seeking traditional security still has some time left.
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