Bitcoin’s Adoption Is Outpacing Gold and the Impact Will Be Even Greater Following Trump’s Victory

Bitcoin Versus Gold

As the U.S. dollar faces a downturn, digital assets like Bitcoin are reaping the benefits, outshining traditional stores of value.

Anthony Pompliano, founder of Pomp Investments, believes Bitcoin will continue outpacing traditional assets like gold.

In a recent interview with Fox Business, he explained that while a weaker U.S. dollar benefits both gold and Bitcoin, the digital asset has a distinct advantage: increasing interest and rapid adoption.

Comparing the two, he noted Bitcoin’s growth has outstripped both gold and the S&P 500, especially over the past five years.

“Bitcoin’s growth is unique because adoption started with individuals and then expanded to institutions,” Pompliano remarked.

Major players such as BlackRock and Fidelity have already entered the scene, and Pompliano foresees central banks following suit.

He pointed out that central banks currently hold around 12% of the global gold reserves and suggested a similar move toward Bitcoin could “boost Bitcoin’s price even further.”

Stablecoins and Bitcoin: The Future of Wealth Storage?

As more people consider digital assets for wealth preservation, Pompliano expects both Bitcoin and stablecoins will play significant roles.

He described stablecoins as resembling checking accounts, ideal for everyday transactions, while Bitcoin acts more like a “digital savings account.”

Most Bitcoin holders, he noted, are not frequently moving their funds, reflecting a long-term commitment and confidence in the asset.

According to on-chain statistics, more than half of all Bitcoin has remained unmoved for over two years, despite its value having tripled in that time.

For Pompliano, this shows that Bitcoin is not only holding its ground but also proving to be a dependable option for those seeking stability in a digital format.

Bitcoin’s Record Surge Reflects Rising Interest Amid Shifts in U.S. Politics

Meanwhile, Bitcoin’s value reached a new all-time high of $75,358.70 on Wednesday as investors responded to the U.S. presidential election outcome, with Donald Trump securing victory and pledging to make the U.S. “the bitcoin superpower of the world.”

The cryptocurrency’s rally, which saw a notable 9% increase, marked a break from its previous record of $73,803.25 set in March.

The surge isn’t just limited to Bitcoin; other cryptocurrencies joined the rally.

As of writing, Ethereum climbed to nearly 7% to reach $2,605.17, while Solana made an impressive leap of nearly 14%, reaching $184.37.

The meme token Dogecoin, frequently backed by Elon Musk, also soared by almost 20%, reinforcing the overall strength in the crypto market.

As the crypto market continues to expand, the idea of Bitcoin being a store of value is gaining more traction.

With major institutional players joining the fold and political support on the rise, the question now is whether Bitcoin can maintain its momentum.