Bitcoin’s Strong Rally Sparks Talk of a New Gold-Like Role

Amid rising political and economic tensions, particularly after President Donald Trump’s latest tariff measures, Bitcoin has begun behaving less like a speculative asset and more like a traditional store of value.

Greg Cipolaro, head of research at NYDIG, highlighted in a new report that Bitcoin’s price movements are increasingly independent of U.S. equities, aligning it more closely with classic safe havens like gold and the Swiss franc.

He emphasized that while this decoupling is still in its early stages, it signals Bitcoin’s growing reputation as a non-sovereign asset for investors seeking alternatives to traditional markets.

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The shift became particularly noticeable following Trump’s “Liberation Day” tariffs earlier this month, which triggered broad risk-off sentiment across global financial markets.

Unlike many other digital assets tied to decentralized applications, Bitcoin’s positioning as a store of value appears to be solidifying, even though its $1.8 trillion market cap remains far smaller than gold’s $22 trillion dominance.

Despite the ongoing rally, Cipolaro cautioned that signs of market overheating are absent, suggesting that Bitcoin’s recovery still has room to grow. For now, Bitcoin seems to be carving out a more mature role as a hedge against economic uncertainty — one that investors are starting to take seriously.

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