The Pomp Podcast Why Is Bitcoin Stalling While Gold Soars? | Jeff Park
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Oct 2, 2025 Jeff Park, Partner and Chief Investing Officer at ProCap BTC, dives deep into the contrasting performances of Bitcoin and gold. He discusses the reasons behind gold's surge, including central bank purchases and the waning role of London as a financial hub. The conversation also explores Bitcoin's unique nature as 'living software' and debates its potential to catch up to gold. Park highlights the societal impacts of declining attention spans and advocates for the importance of storytelling in the age of technology.
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Gold's Rise Is Flow-Driven And Geopolitical
- Gold's rally is driven by flows and geopolitical shifts, not just price mechanics.
- China's buying and a declining US share of reserves explain gold's recent dominance.
Shanghai Replaces London For Physical Gold
- Shanghai has become a major center for physical gold settlement and trading volume.
- That structural shift supports sustained central bank and sovereign demand for gold.
Scarcity Is Physical And Social
- Gold's cultural durability gives it a unique social scarcity beyond physical properties.
- Bitcoin's shorter history (15 years) still matters psychologically but competes on different social terms.
