The strategy of investing in assets that resist depreciation, often referred to as the hard asset or sound money approach, remains robust. Bitcoin (BTC) is hovering around $120,000, nearing its peak of $124,000. Concurrently, gold has surged nearly 50% this year alone and continues to break records daily as it trades close to $3,900.
Investor interest in this trend is evident through exchange-traded fund activities. On Thursday, BlackRock’s iShares Trust (IBIT) and the SPDR Gold ETF (GLD) were among the top ten most actively traded ETFs—a notable event highlighted by Bloomberg’s Senior ETF analyst Eric Balchunas.
The GLD recorded a trading volume of $4.88 billion and ranked fourth among ETFs for activity levels; IBIT was seventh with a volume of $3.21 billion. Leading the pack was the SPDR S&P 500 ETF (SPY), boasting over $26 billion in transactions.
“It seems everyone wants a piece of this debasement-resistant trade,” remarked Balchunas.
Dominic Frisby—comedian and proponent of sound money—shared exclusively with CoinDesk that both bitcoin and gold possess an intrinsic quality: they are beyond governmental control when it comes to printing more currency.
Frisby commented: “Bitcoin is within striking distance from its historical highs; gold has reached new heights; silver is also approaching record levels—it appears confidence in fiat currencies might be waning. While nothing lasts indefinitely, these resilient forms of currency immune from government interference are enjoying their moment once again.”
Silver’s performance mirrors that of gold’s ascent—it currently trades just under $48 per ounce—the third-highest level following peaks observed in 2011 and 1980 where silver aligned closely with gold’s trajectory during those periods. If past patterns hold true today too then should silver conclude its steep rise soon afterward could potentially herald further gains for bitcoin as well.