CoinDesk Podcast Network Why Central Banks Still Prefer Gold Over BTC | CoinDesk Daily
Dec 1, 2025
Explore the ongoing rivalry between gold and Bitcoin as top strategist Mark Connors highlights gold's longstanding stability amidst a market downturn for BTC. With gold surging 60% compared to Bitcoin's 12% drop, the debate over safe havens deepens. Central banks continue to favor gold for its proven infrastructure, while Bitcoin struggles to gain trust for large-scale transactions. Additionally, discover how Japan's potential rate hikes could impact global markets, along with China's intensified crackdowns affecting crypto mining.
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Low Liquidity And Japan Rate Jitters Fueled Sell-Off
- Crypto volatility spiked after CME futures opened, hitting the CoinDesk20 index hard.
- Low liquidity since last October plus macro jitters from Japan amplified the sell-off.
BOJ Rate Talk Could Reverse Yen Carry Trades
- Bank of Japan hints at an interest rate hike pushed JGB yields to levels not seen since 2008.
- A stronger yen could prompt hedge funds to stop borrowing yen to buy risk assets like Bitcoin.
Gold Outperformed Bitcoin In The Past Year
- Gold has rallied 60% year-over-year while Bitcoin is down about 12% over the same period.
- Mark Connors argues gold's centuries of infrastructure make it a more established safe haven than Bitcoin today.