It’s no secret that bitcoin BTC$89,186.09 is currently failing its many narratives, including the claim that it can serve as an inflation hedge or a safe-haven asset amid uncertainty.
While gold has climbed more than 80% during this period of high inflation, geopolitical skirmishes, and interest rate uncertainty, bitcoin has dropped 14% year over year.
In theory, assets that protect against inflation should rise when the value of money falls. For gold and the rest of the precious metals complex, that theory has worked. For digital gold, not so much.
That divergence has raised fresh questions: why would anyone buy bitcoin now when precious metals and equities give better returns?
CoinDesk has asked a group of longtime bitcoin bulls, and this is how they are defending buying bitcoin:
Comfort in the known (Jessy Gilger, senior advisor at Gannett Wealth Advisors, a bitcoin-native wealth management firm)
Transfer of ownership (Mark Connors, chief investment officer at Risk Dimensions)
Tech stock problem (Charlie Morris, CIO ByteTree)
Delayed rotation coming? (Peter Lane, CEO Jacobi Asset Management)
Need another demand driver (Anthony Pompliano, Chairman & CEO of ProCap Financial)
A permanent solution to inflation? (David Parkinson – CEO Musquet, BtC lightning)
Bitcoin’s time is coming (Andre Dragosch – Bitwise)
Read more: Bitcoin in a deep bear market against gold, history suggests downside may persist
Source: https://www.coindesk.com/markets/2026/01/24/here-s-what-bitcoin-bulls-are-saying-as-price-remains-stuck-during-global-rally
