Bitcoin and Stocks Already Rallied. Gold Catches Up Next.

Gold is presented as the most proven anti-inflationary, anti-debasement, and anti-war asset. Its choppy performance is attributed to an inverse relationship with the oil market; when oil experiences sharp volatility, gold is often liquidated to cover margins. However, this makes it an opportune time to position in gold, as other assets have rallied while gold remains suppressed despite strong fundamental drivers like inflation, de-dollarization, and dollar weakness. These factors fueled gold's rise from 2023 to 2025, and the underlying story persists. While the speaker owns Bitcoin for its long-term gains potential, gold is highlighted as the clearer bet in the current environment, especially after short-term oil volatility subsides and inflation becomes the primary focus. The comparison between Bitcoin and gold as anti-inflationary, anti-censorship, and anti-debasement assets is discussed through their ratio. Bitcoin's value against a troy ounce of gold typically fluctuates between a ratio of 10 (cheap Bitcoin) and 35-40 (expensive Bitcoin). Currently, Bitcoin is relatively cheap, but a bear market suggests a potential double bottom before reaching highs. Alternatively, gold's catch-up could also bring the ratio down. Despite Bitcoin outperforming gold in the initial 60 days of a recent conflict, gold is fundamentally a better and cheaper hedge. Given the return of risk-on behavior and persistent inflation, gold is seen as the clearest trade for new allocations, poised to catch up to other rallying assets.