Gold Surpasses Bitcoin by 70% Over the Past Year

Over the past year, gold has outperformed Bitcoin (BTC) by over 70 percentage points. Gold's value increased from $3,400 to $4,330, a 28% gain, while BTC suffered a 44% decline from $117,000 to $65,000.

The precious metal has maintained its strength despite the economic downturn, and central banks have taken notice. In 2025, they added 863 tonnes of gold to sovereign reserves, which is a historically elevated total.

BTC, on the other hand, has seen significant losses. It hit an all-time high near $126,200 in October 2025 but has since declined by 48%. Its decline over the past year has been particularly sharp, with many institutional champions and investors holding onto their BTC losing out to gold.

Even Michael Saylor's Strategy, which had long been a major proponent of Bitcoin, sold its holdings for the first time since 2022. Meanwhile, gold ETF investors reversed course, with inflows of over 800 tonnes in 2025.