Gold vs Bitcoin: How Money Supply Shapes Asset Performance
Despite gold’s strong 2025 rally, its value relative to broad U.S. money supply (M2) remains below the 2011 peak, and roughly on par with levels from 1975. Bitcoin, however, continues to set new highs against M2 with each bull cycle, reflecting its sensitivity to monetary expansion.
The comparison underscores gold’s role as a stabilizing hedge in portfolios, while bitcoin operates as a more dynamic asset that responds to shifts in liquidity and monetary conditions.
