CZ’s X Post Revives Bitcoin vs. Gold Debate

Changpeng Zhao—better known as CZ, the former CEO of Binance—took to X (formerly Twitter) on Saturday and dropped a single sentence that lit up the internet:

“Not against gold, but it’s not a limited supply asset.”

That one line was all it took to stir the pot. Gold supporters were quick to defend their favorite metal, while crypto fans lined up behind Bitcoin once again. CZ didn’t follow up with more tweets. He didn’t need to. The message was clear: in his eyes, Bitcoin wins because it’s truly limited.

And he may have picked the perfect moment to say it—just as gold’s impressive rally started to slow down.

Gold Stumbles After a Hot Streak

On Friday, spot gold fell 0.4% to $3,228.50 an ounce, marking a 2.6% drop for the week. That’s a sharp reversal after it hit a record high of $3,500.05 on April 22. By last Thursday, it had already fallen to its lowest level since mid-April.

Yes, U.S. gold futures still ended slightly higher—up 0.6% at $3,243.30—but that wasn’t enough to reverse the downward trend.

Why the sudden shift? Part of it comes down to cooling global tensions. Both the U.S. and China seemed to be softening their trade war stance. China’s commerce ministry even said the U.S. is showing a willingness to negotiate on tariffs. That kind of news tends to calm markets and reduce demand for safe-haven assets like gold.

As Daniel Pavilonis from RJO Futures put it:

“Gold looks like $3,500 may be a top for a little while,” especially if more trade deals go through and investor fear fades.

Add to that a strong U.S. jobs report, showing 177,000 new jobs last month—far better than the expected 130,000—and suddenly traders weren’t so sure the Federal Reserve would cut interest rates in June. Rising Treasury yields followed, which typically hurts gold, since it doesn’t pay any interest or yield.

It wasn’t just gold feeling the pressure either. Silver dropped 1.3% to $31.98, while platinum and palladium saw small gains but were still heading for weekly losses. In short, the metals market was cooling off across the board.

Bitcoin Makes Quiet Gains

While gold cooled, Bitcoin quietly made a comeback.

It’s still up less than 1% for the year—but that’s better than the S&P 500, which is down over 6%. After hitting its lowest point in 2025 on April 8, Bitcoin bounced back nearly 20%. That’s not quite gold’s 26% gain this year, but it’s close—and it shows how quickly sentiment can shift in the crypto space.

Of course, Peter Schiff, a longtime Bitcoin critic, wasn’t going to stay quiet. He jumped on X to dismiss the idea that Bitcoin trades like gold, saying:

“If you want to bet on the NASDAQ, just buy tech stocks.”

He argued that Bitcoin still behaves more like a high-risk tech stock than a safe-haven asset and warned of more trouble ahead as Treasury yields rise and the dollar weakens.

Bitcoin and Gold: Not So In Sync Anymore

Between 2020 and 2024, Bitcoin and gold often moved together. But that trend has broken in 2025. A recent CNBC report showed the 25-week rolling correlation between the two had dropped to -0.42 by the end of March—meaning when gold goes up, Bitcoin tends to go down, and vice versa.

April’s bounce brought the number back to -0.28, but that still shows a weak connection. For context, a perfect positive correlation would be +1.0, and -1.0 means they move in completely opposite directions.

So while both assets did well in April, their relationship has become shaky.

Still, some experts think that could change. Geoff Kendrick, head of digital asset research at Standard Chartered, recently said that investors might need to think differently about Bitcoin:

“Bitcoin acts more like tech than gold,” he wrote. “It can serve as both a big tech stock and a hedge against traditional finance.”

Final Thoughts

CZ’s comment may have been short, but it came at a time when both gold and Bitcoin are at important turning points. As gold cools off and Bitcoin gains momentum, the debate over which is the better store of value is heating up again.

One is ancient. The other is digital.
One has history. The other has hard limits.
And for investors choosing sides, the battle between old money and new money is far from over.

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