Bitcoin Underperforms Gold Amid Institutional Skepticism, Says Macro Investor

Last week, US equities, Treasurys, and the dollar experienced simultaneous declines, a rare occurrence noted by investor Jordi Visser, who characterized it as "the system officially broke." Despite gold rallying over 4%, Bitcoin's price remained stagnant. Visser attributes this divergence to skepticism from institutional finance.

Key points from Visser's analysis:

US bonds are down over 5% month-to-date, with equities also dropping more than 5%. The US dollar index saw similar losses.
Bitcoin is perceived by Wall Street as an equity-like asset rather than a safe haven like gold.
Institutional holders have not yet embraced Bitcoin as they have with gold, affecting its market performance.
Bitcoin’s significant moment may come after aggressive monetary stimulus is implemented in response to financial crises.
The transition towards a decentralized financial system is underway, influenced by geopolitical factors and technological advancements.
Bitcoin's correlation with global liquidity cycles suggests it will lag behind liquidity expansions, potentially increasing in value four to ten weeks later.
Institutional investors face constraints that limit their participation in Bitcoin markets compared to retail investors.
The US appears to be exporting fiscal deficits globally as trade dynamics shift.
Visser believes Bitcoin remains a relevant emergent asset, waiting for broader acceptance and structural breakout moments.

As of the latest update, Bitcoin is trading at $84,689.

Bitcoin price