Crypto Has Been Flat Against Gold for Past 8 Years, Mike McGlone Unveils

Mike McGlone, a senior commodity expert at Bloomberg Intelligence, has taken to his official X account to share with the community his observations regarding Bitcoin, gold and what their current price dynamic may be saying about the overall state of the global economy. Meanwhile, gold has reached a new all-time high of $3,578.

Crypto and stocks have been flat against gold: McGlone

In his tweet, McGlone stated that over the past eight years, the Bloomberg Galaxy Crypto Index and the S&P 500 have “flatlined vs. gold,” essentially meaning that while valued in dollars, crypto and stocks may have appreciated significantly, they have not gained much value relative to gold.

Generally, crypto is expected to outperform gold over time, particularly in times of inflation, and in dollar terms, this is what has been happening. McGlone seems to be hinting that should gold continue to hold steady against risk assets such as Bitcoin or stocks, or continue to outperform them, it may signal that the global economy is experiencing a major weakness at the moment or even indicate the coming of a profound change in the global financial order.

Today, the price of a single gold ounce surged to $3,578, soaring by 120% in total over the past three years.

Saylor still believes in Bitcoin as Strategy buys 4,048 BTC

Michael Saylor, a renowned Bitcoin evangelist and a co-founder of BTC treasury company Strategy (formerly MicroStrategy), has announced that his firm has amassed another large amount of digital gold, Bitcoin.

Per the announcement, the company has bought 4,048 BTC worth approximately $449.3 million at roughly $110,981 per BTC. Besides, the X post says that Strategy has achieved a Bitcoin yield of 25.7% year-to-date in 2025.

After this purchase, the total Bitcoin stash held by Strategy constitutes 636,505 BTC bought for $49.95 billion. At the current prices, this amount of BTC is worth $70,953,631,069.