Tim Draper Declares "Gold Is Dead," Champions Bitcoin's Future

Legendary venture capitalist Tim Draper has reignited debate by declaring "gold is dead" in a recent social media post. Draper emphasized that while gold "just sits there," Bitcoin is "borderless," "permissionless," and "programmable," highlighting its utility in everyday transactions. "You can't buy coffee with gold. But with Bitcoin, you can — without banks, inflation, or friction," Draper asserted, underscoring Bitcoin’s advantages over traditional assets.

However, critics were quick to point out that gold has substantially outperformed Bitcoin in 2025. Gold prices have soared more than 20% year-to-date, recently surpassing $3,500 per ounce amid ongoing tariff-driven economic uncertainty. In contrast, Bitcoin's price has remained relatively flat during the same period, raising questions about its role as a safe-haven asset.

Canadian billionaire Frank Giustra recently criticized comparisons between Bitcoin and gold, arguing that Bitcoin remains "pure speculation" rather than a stable store of value. Financial commentator Peter Schiff and others have echoed similar skepticism regarding Bitcoin’s volatility.

Draper, a longtime Bitcoin advocate, has made bold predictions about the cryptocurrency’s future, once forecasting a $250,000 price by the end of 2022—a target he later revised to mid-2025. More recently, he speculated Bitcoin could soar to $3 million if it becomes the world's dominant currency, though many analysts view such projections as overly optimistic.

As Bitcoin continues to battle market skepticism and gold rides a wave of economic turbulence, Draper's latest comments fuel the ongoing debate over the true future of money.