Grayscale Report: Bitcoin Price Movements in Sync with Tech Stocks, Not Gold

PANews reported on February 11th that, according to Cryptopolitan, Grayscale, in its latest research report, pointed out that Bitcoin's recent price movements are highly correlated with tech stocks, rather than with safe-haven assets like gold. The report's analysis shows that Bitcoin's price has been closely linked to the performance of highly valued software company stocks over the past 12 months. When the market sold off tech stocks due to concerns about the impact of artificial intelligence on traditional software services, Bitcoin also fell. This suggests that investors currently view it more as a growth asset driven by market confidence and risk appetite, rather than as a "digital gold" capable of withstanding volatility.

Grayscale believes that while Bitcoin possesses long-term value storage characteristics such as limited supply and a decentralized network, compared to gold, which has a history of money spanning thousands of years, Bitcoin, with only 17 years of existence, is still in the early stages of proving itself as a global monetary asset. Recently, when gold and silver prices rose, Bitcoin did not follow the same trend; instead, it declined in tandem with other high-risk growth assets.