Gold Has Surged Past Bitcoin. Should Investors Still Consider the Leading Cryptocurrency "Digital Gold"?

Core Insights - Gold and Bitcoin have both outperformed the S&P 500 index year to date, with Bitcoin up approximately 17% and the S&P 500 up about 14%, while gold has surged 60% since the beginning of the year [1] Group 1: Nature of Assets - Gold was historically used as a universal currency and is now primarily a store of value, rarely used as a medium of exchange [3] - Bitcoin, created in 2009, was intended to replace fiat currencies but is now also viewed more as a store of value and speculative investment rather than a currency [4][5] - Both gold and Bitcoin are considered primarily stores of value, with Bitcoin exhibiting much higher price volatility compared to gold [7] Group 2: Market Dynamics - Gold's price increase is driven by significant central bank buying and its status as a safe haven during financial stress, influenced by geopolitical tensions and high inflation [8] - Bitcoin's value is characterized by extreme volatility, making it less practical as a currency compared to more stable fiat currencies [6]