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Co-founder of QCP Capital: Bitcoin and gold are not comparable., 2026/02/25 11:51:22

The co-founder and managing partner of QCP Capital, Darius Sit, stated that Bitcoin does not lose to gold, and comparing these assets is inappropriate due to their differing liquidity mechanisms.
According to Sit, Bitcoin’s lag behind gold during market downturns is not due to a reassessment of its status as a safe-haven asset, but rather a reflection of the unique characteristics of the cryptocurrency market. This makes the short-term discrepancies in the performance of the two assets a matter of physics rather than a judgment on either, the executive explained.
Gold relies on historical demand, a robust governmental infrastructure, and a massive scale: daily fluctuations in its capitalization can exceed the total value of Bitcoin.
The cryptocurrency market operates differently: cryptocurrency prices are sensitive to the volume of traders’ leveraged positions, forced liquidations, and how centralized platforms manage declining demand.
“Comparing Bitcoin to gold is almost like comparing a mouse to an elephant. In the short term, different market forces influence prices, while the long-term narrative for both assets remains similar,” Sit remarked.
He identified the mass liquidations on October 10, 2025, as a pivotal event for understanding market structure.
“The crash on October 10 revealed a clear liquidity divide between cryptocurrencies, altcoins, and Bitcoin. Exchanges that resorted to socializing losses undermined their credibility, while Bitcoin rebounded sharply after the wave of liquidations,” he clarified.
In his view, this incident demonstrated that Bitcoin is increasingly being used as collateral, while the performance of altcoins reflects the resilience of specific trading platforms.
Sit emphasized that the long-term narrative of Bitcoin as a safe-haven asset remains intact, whereas short-term dynamics are shaped by the structure of the cryptocurrency market, not competition with gold.
Previously, Michael Saylor, the chairman of the largest corporate Bitcoin holder, Strategy, stated that by 2035, Bitcoin could surpass gold in market capitalization.