As gold hits a record price of $2,848 per ounce, more and more financial experts are expressing a growing preference for Bitcoin over the precious metal. In a recent commentary shared with Livewire Markets, Daniel Roberts, CEO and founder of the Nasdaq-listed tech company IREN, stated that Bitcoin needs to reach a price of $900,000 to match gold’s market cap, and he believes it will happen by 2030.
Roberts’ Prediction on Bitcoin
Daniel Roberts, who is deeply involved in the cryptocurrency industry through his company IREN, a provider of renewable energy-powered data centers for Bitcoin mining, has long been vocal about his belief in Bitcoin’s potential. In November 2024, amid a major crypto rally, Roberts described Bitcoin as “dirt cheap.”
Roberts compares Bitcoin to gold, highlighting its scarcity and its potential as a safe haven asset in turbulent economic times—a characteristic both Bitcoin and gold share. He believes that Bitcoin, which is increasingly seen as a safe-haven asset like gold, will eventually surpass gold’s market cap by 2030.
At present, the market cap of gold stands at $19.3 trillion, while Bitcoin’s market cap is around $1.95 trillion. This means Bitcoin would need a tenfold price increase to match gold in terms of market cap. If Bitcoin’s price reaches $1 million, it will surpass gold’s market cap, according to Roberts. He predicts that a price of $1 million per Bitcoin by 2030 would not surprise him, citing factors like the rise of ETFs and increasing institutional interest as key drivers for Bitcoin’s growth.
It’s important to note that the gold market may also continue to grow. Over the last five years, the price of gold has surged by more than 80%. Based on Roberts’ logic, Bitcoin may need to reach an even higher price than $1 million by 2030 to match gold’s market cap, or it may take longer for Bitcoin to surpass gold.
Bitcoin vs. Gold: The “Digital Gold” Debate
Roberts is not the only one comparing Bitcoin to gold and even claiming it is superior in some ways. Many professionals in the cryptocurrency space and broader financial sector have voiced similar sentiments, emphasizing Bitcoin’s advantages over gold.
Roberts likens Bitcoin to “Gold 2.0,” stating that it is a superior version of gold because it is scarcer, easier to transfer, and more divisible. “We live in a world where digital and social networks have disrupted their physical equivalents,” he said, comparing Bitcoin to gold in the same way Netflix disrupted Blockbuster. “Bitcoin’s better at being gold than gold is.”
The ongoing debate between Bitcoin and gold as a store of value has been amplified by recent economic events. Amid trade tensions between the U.S. and China, gold saw a spike in demand, reaching its historical high of over $2,800 per ounce on February 5, while Bitcoin experienced a correction in the same period.
However, the long-term view remains that Bitcoin, despite its short-term volatility, is seen as a better alternative to gold by many in the crypto community. In a February 2025 interview with Bloomberg, Cathie Wood, CEO of Ark Invest, referred to Bitcoin as a “new asset class” and a global monetary system leader. She expressed that Bitcoin is “hands down better than gold” and a hedge against both inflation and deflation, noting that younger generations are more likely to prefer Bitcoin over gold due to its association with technology rather than traditional financial institutions.
Mark Cuban, billionaire businessman and television personality, also echoed this sentiment, stating in an interview with Wired that Bitcoin is a better version of gold, serving as a hedge against economic crises. “People look at bitcoin as a better version of gold, and I agree with that,” Cuban said.
Jerome Powell, Chairman of the U.S. Federal Reserve, also weighed in on the Bitcoin-gold debate, calling Bitcoin a “virtual gold” and asserting that it competes more directly with gold than with the U.S. dollar.
Other High-Profile Bitcoin Proponents
Numerous other well-known figures in the crypto and financial sectors share the belief that Bitcoin has the potential to outperform gold as a store of value. Coinbase CEO Brian Armstrong, Pantera Capital founder Dan Morehead, and Bitwise CIO Matthew Hougan are among those who have expressed similar views, often citing Bitcoin’s advantages in terms of ease of transfer, divisibility, and scarcity compared to gold.
With these endorsements and predictions from high-profile figures, Bitcoin’s status as “digital gold” continues to gain traction. While gold has long been a reliable asset for investors, Bitcoin’s potential as a superior store of value in the digital age is an argument that is growing stronger, with experts like Daniel Roberts leading the charge.
