Ansem Says Bitcoin-Gold Valuation Gap Should Narrow

Bitcoin (BTC) has a market value of about $1.7 trillion, compared with roughly $30 trillion for gold. Ansem said the gap should narrow if Bitcoin is accepted as the best form of digital hard money.

Ansem pointed to Bitcoin’s failure to set a new high against gold in the previous market cycle. A narrower valuation gap would strengthen the rationale for governments to hold Bitcoin on their balance sheets, as they do gold.

He said the current cycle did not need to be mapped directly to 2020, 2023 or 2024. Ansem sees a closer parallel with DeFi’s expansion in 2020 and 2021, when new market verticals brought billions of dollars into on-chain markets.

Stablecoins are opening new markets, with tokenized stocks a particular focus. These markets are attracting retail users, institutions and developers. Ansem said the new market verticals could bring new capital flows, products and speculation.