Markets in 2025 are showing a preference for tangible assets when confidence in financial systems feels uncertain or when growth depends on building real-world infrastructure.
Gold has been rising as investors respond to concerns like government debt, currency debasement, and political instability. Copper has also strengthened, largely because electrification, AI-related data center buildouts, and broader infrastructure projects require a lot of it.
Bitcoin hasn’t absorbed the same “safe-haven” or “infrastructure” flows. For many institutions, ETF approval and clearer regulation are already largely reflected in prices, while central banks and sovereign buyers still tend to choose gold as their primary hedge.
This gap doesn’t automatically mean Bitcoin is failing or becoming irrelevant. In past cycles, gold often moves first during monetary stress, while Bitcoin can react later—sometimes more sharply, and with higher volatility
So the message from markets may be less “crypto is over” and more “risk management matters”: investors are watching for durability, clearer timing, and evidence of where Bitcoin fits in the current macro environment.
