Whales Massively Buying Gold Instead of Bitcoin: Details

Source: CryptoNewsNet Original Title: Whales Massively Buying Gold Instead of Bitcoin: Details Original Link: Bitcoin slipped today as on-chain data showed large investors shifting capital toward gold-backed assets instead of crypto.

The move comes as traditional safe havens surge to fresh all-time highs, leaving the digital asset market in the red.

Key Points

• Bitcoin slipped as whales rotated capital into tokenized gold amid record-breaking rallies in precious metals.
• A whale bought millions in XAUT as gold and silver hit fresh all-time highs on macro uncertainty.
• BTC lagged near $88,653, reflecting investor caution and preference for lower-volatility hedges.
• Peter Schiff renewed Bitcoin criticism, citing underperformance versus gold since 2021.

Whales Buying Gold Instead of Bitcoin

Blockchain tracking platform data highlighted a whale address actively accumulating tokenized gold rather than Bitcoin. According to the data, the whale deposited $1.53 million in USDC into a platform to purchase XAUT, a token backed by physical gold and issued by Tether.

This follows an earlier purchase of 481.6 XAUT worth approximately $2.38 million. The address still holds around $1.44 million in USDC, suggesting additional gold exposure could be ahead.

The rotation aligns with a strong rally in precious metals. Gold recently surged to $4,967 per ounce. At the same time, silver climbed to $99.24, with both assets printing new all-time highs amid heightened macroeconomic uncertainty.

The strength in metals appears to be attracting capital that might otherwise flow into risk assets like crypto.

Bitcoin Lagging Behind

Bitcoin has struggled to regain momentum. At the time of writing, BTC is trading around $88,653, down roughly 1% on the day and nearly 30% below its previous cycle peak.

The price action reflects investor hesitation as markets weigh inflation risks, monetary policy expectations, and the appeal of less volatile stores of value.

The contrast between whale activity in gold and Bitcoin’s softer performance highlights a short-term shift in sentiment. While long-term Bitcoin holders continue to view BTC as digital gold, current on-chain behavior suggests that some large players are prioritizing traditional hedges as macro pressures intensify.

Peter Schiff Renews Criticism of Bitcoin

Amid gold’s historic performance, economist Peter Schiff has renewed his criticism of Bitcoin, arguing that investors are missing out as precious metals surge to record levels.

Schiff said gold and silver are sending stronger signals in today’s volatile economic environment, while Bitcoin has failed to keep pace.

He also noted that since November 2021, Bitcoin has lost more than 50% of its value when measured against gold.

Schiff argued that the real risk for Bitcoin holders is opportunity cost, with capital tied up in an asset that has underperformed traditional stores of value. He further questioned Bitcoin’s “digital gold” narrative, saying its failure to rally alongside gold during periods of monetary stress weakens its case as a hedge.

While acknowledging Bitcoin’s early gains, Schiff maintained that gold and silver remain safer havens amid rising debt, currency pressure, and broader market uncertainty.