The cryptocurrency market witnessed a significant shift as Bitcoin ETF assets surpassed gold ETFs for the first time, driven by investor confidence in a digital asset amidst global tensions. While gold continued to hold strong appeal as a safe haven, Bitcoin’s rapid growth and volatility raised questions about its long-term potential as a safe-haven asset. Despite surpassing $4,500, Bitcoin continues to be perceived as a high-volatility tech instrument. The digital asset saw its total ETF assets reach nearly $120 billion by November 2025, while gold continued to attract more investors seeking stable value in turbulent times. This milestone has ignited debate about Bitcoin’s ability to secure true digital gold status. Experts like Simon Kim, CEO of Hasher, have highlighted the challenges ahead for Bitcoin, arguing that trust needs time to develop. He pointed to the historical resilience of gold as it weathered numerous global crises over 5,000 years. While market behavior indicates Bitcoin’s vulnerability during volatile periods, Kim suggests its growth and the potential of institutional investors could play a crucial role in shaping its future. Kim analyzed the correlation between Bitcoin and the Nasdaq 100, which has averaged close to 0.65 since 2024. This highlights that Bitcoin’s price remains closely tied to tech-heavy indices during times of market volatility. The rise of Bitcoin ETFs, particularly those targeting institutional investors, compared with gold ETFs’ focus on long-term capital from pension funds and central banks, has been a key factor in the shift. Despite the recent increase in Bitcoin ETFs, the performance of Bitcoin in 2025 suggests a need for further clarity about its future as a safe-haven asset. For example, Kim points to the increased gold demand driven by central bank purchases of the metal from countries like China, India and Russia. The growing preference for traditional safe havens has led some investors to explore blended strategies that incorporate Bitcoin alongside gold. 2025 saw Bitcoin’s total assets surpass $120 billion as Gold ETF assets reached $325 billion with a strong performance throughout the year. Kim outlined four potential structural triggers that could propel Bitcoin toward digital gold status. These include: greater inclusion of Bitcoin within sovereign wealth funds, increased state-level adoption, demonstrably safe-haven behavior during major economic crises, and robust infrastructure to support its growth. Kim suggests that achieving this transformation might take until around 2030, depending on the actions of institutional players, national governments, and how Bitcoin performs in future crises.