The debate over whether Bitcoin [BTC] Whether gold is the better safe haven has taken a new turn in 2026.
Over the past year, gold has risen almost 79% to above $5,200 per ounce, while Bitcoin has fallen around 21% and remains in a consolidation phase.
However, the deeper data tells a different story.
Bitcoin vs Gold ETFs
On March 7, Perception founder and former Blockstream director Fernando Nikolić said be shows that institutional interest in Bitcoin continues to grow rapidly despite the recent price struggles.
He said,
“Spot Bitcoin ETFs Matched 15 Years of Cumulative Gold ETF Inflows in Less Than Two Years.”
This highlights how quickly institutional and investor interest in Bitcoin has grown compared to gold during the early ETF adoption phase.
It suggests that Bitcoin is being adopted by the traditional financial world at a much faster pace than gold was when ETFs first launched.
Source: Fernando Nikolić/X
Nikolić described the situation as “absolute cinema,” arguing that the institutional case for Bitcoin is now clear.
He pointed out that Bitcoin ETFs have attracted as much investment in just 20 months as gold ETFs have in the past 15 years.
What makes this even more surprising is that this happened while Bitcoin was experiencing a sharp 46% decline, and many people believed that the market cycle was already over.
According to him, there is no longer any point in continuing to debate whether Bitcoin is “digital gold,” as he believes Bitcoin surpasses gold and makes the age-old asset appear sluggish.
Schiff and Mena add more to the ongoing debate
However, long-time gold supporter Peter Schiff is strong disagreed with this view and said:
“Yes, and despite these inflows, Bitcoin is almost 50% below its peak as gold has more than doubled. Imagine what will happen to Bitcoin if ETFs experience massive outflows. That’s coming soon.”
Adding more weight to the situation, Matt Mena, Crypto Research Strategist at 21Shares, noted in an email to AMBCrypto:
“Amid the escalating war in Iran, investors are increasingly viewing Bitcoin as an emerging ‘flight to safety’ asset.”
He continued,
“Historically, gold has led this charge, and because gold has risen so aggressively while Bitcoin has lagged, many are now piling into BTC as a “catch-up” or “gold beta” trade – Bitcoin has historically lagged gold by three to six months (see 2016, 2018, or 2020).
According to Mena, Bitcoin ETFs have shown strong stability, losing only about 5% of their total BTC holdings during the recent volatility.
Bitcoin is overtaking US-owned gold
At the same time, the US market is showing signs of change. Data cited by AMBCrypto suggests that while caution remains, buyer confidence is gradually returning.
Ownership trends highlight that more than 50 million Americans now own Bitcoin, compared to about 37 million who own gold.
Overall, the 2026 outlook shows a clear contrast. Gold still has an established reputation and greater market value, but Bitcoin has achieved widespread cultural and institutional adoption in just over a decade.
Final summary
- Despite the weaker price action, Bitcoin’s adoption curve continues to accelerate due to ETFs, institutional allocations and increasing retail ownership.
- While skeptics continue to question Bitcoin’s long-term viability, the institutional inflows suggest the market story is still evolving.