Bitcoin Surges Past Gold in Debasement Trade Bets

Bitcoin has been outperforming gold and stocks over a recent quarter, rising by 44% in comparison to gold's 8% gain and stocks' 3.5% increase.

This is part of what analysts are calling the 'debasement trade', where investors seek out hard assets as a hedge against inflation and currency devaluation.

Despite strong demand for gold ETFs, which Fiona Cincotta, StoneX Senior Market Analyst, notes remains exceptionally high, Bitcoin's momentum has improved significantly in recent times.

This improvement coincided with the U.S. Treasury Department's plans to increase buybacks of long-dated government bonds and $4.6 billion in net inflows into U.S. spot Bitcoin ETFs.