David Marcus, CEO of Lightspark, recently stated that Bitcoin is significantly undervalued compared to gold. His analysis suggests that the leading cryptocurrency could reach a value of $1.3 million if its market capitalization were to match that of the precious metal. This bold claim comes at a key moment for the markets, where the search for safe-haven assets is intensifying. The debate over Bitcoin undervalued compared to gold is gaining new relevance for investors.
Marcus’s statement offers a bullish outlook for Bitcoin’s future. The analysis is based on a direct comparison between the market caps of both assets, highlighting BTC’s growth potential. Meanwhile, the tokenized gold market has reached a historic milestone, surpassing $3 billion in total capitalization for the first time. This growth is primarily driven by tokens like PAX Gold and Tether Gold, whose trading volume reached $640 million in just 24 hours.
A new era for safe-haven assets?
The current global economy context is fueling interest in alternative assets. Recent fiscal uncertainty in the United States has led investors to seek safe havens, benefiting both gold and digital assets. Gold has outperformed Bitcoin in recent months, as shown by the declining ratio between the two. However, institutional interest in Bitcoin continues to grow. Last week saw net inflows of $3.24 billion into spot Bitcoin ETFs.
This growing institutional interest, along with an increasingly limited supply, could be the catalyst Bitcoin needs. The amount of BTC available on centralized exchanges is at its lowest level in six years. This scarcity, combined with rising demand, creates a favorable scenario for the price. The discussion about whether Bitcoin can be considered “digital gold” becomes more intense given these market dynamics.
Bitcoin vs. Gold: The Battle for Dominance as a Safe-Haven Asset
The thesis of Bitcoin undervalued compared to gold suggests that there is still ample room for long-term value appreciation. While gold has a centuries-long track record as a store of value, Bitcoin is positioning itself as a digital alternative with unique advantages in the modern era. Increasing institutional adoption and regulatory clarity could reduce volatility and strengthen its role as a safe-haven asset.
The current situation presents a fascinating landscape for investors. On one hand, gold demonstrates its traditional resilience in times of uncertainty. On the other, Bitcoin emerges with a technological and decentralized value proposition that attracts a new generation of capital. The coming months will be crucial to observe if the trend of institutional capital inflows into Bitcoin continues and how this impacts its valuation against the golden metal.
