Core Insights - Gold and Bitcoin can complement each other in a portfolio, with gold providing downside protection and Bitcoin offering upside potential during market recoveries [1] - Recent discussions at the Digital Assets Forum highlighted the contrasting performance of gold and Bitcoin, with gold increasing by 46% over the past six months while Bitcoin has decreased by 40% [2] - The historical preference for gold as a safe haven asset is attributed to "muscle memory" among investors, which may take time to shift towards Bitcoin [3] Market Dynamics - The belief in Bitcoin's four-year boom and bust cycles, driven by supply halvings, is being questioned as the significance of these events diminishes due to the majority of Bitcoin already in circulation [4][5] - The impact of exchange-traded funds (ETFs) and other financial instruments is noted to have reduced Bitcoin's volatility, indicating a maturation of the asset class [5] - The growing interest from sovereign states in Bitcoin suggests a shift in its perception as a macro asset, moving beyond its initial niche appeal [5]