CoinDesk Podcast Network Gold Hits Record $3.5K as Whales Dump Bitcoin | CoinDesk Daily
Sep 2, 2025
Gold prices have soared to a historic $3,500 an ounce, driven by expectations of Federal Reserve interest-rate cuts and economic uncertainty. Meanwhile, Bitcoin remains stable despite significant corporate acquisitions. The discussion highlights the ongoing challenges in DeFi and the efforts of a Trump-backed project trying to regain investor trust. Can Bitcoin catch up with the momentum of gold? It's a vibrant exploration of the evolving crypto landscape and the implications for both assets.
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Gold Hits Record Amid Fed Cut Bets
- Gold surged to a record $3,500 an ounce driven by rate-cut expectations and fiscal pressure.
- Gold-backed tokens tracked the rally then pulled back with the metal.
MicroStrategy Keeps Buying Bitcoin
- Bitcoin traded sideways near key resistance around $108,700 at recording time.
- MicroStrategy continued aggressive accumulation despite Bitcoin's muted price action.
Funding The Bitcoin Accumulation
- MicroStrategy paid just under $450 million for 4,048 BTC at an average of $110,981 per coin.
- The purchases were funded mainly by common stock sales and some preferred shares.