- BTC-USD +1.96%
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Bitcoin this year again failed to live up to its “digital gold” promise, but NovaDius Wealth Management President Nate Geraci remains optimistic about the cryptocurrency’s long-term potential.
“[Bitcoin’s] story is still in its early chapters,” Geraci reportedly told CNBC on Dec. 5, adding that he believed the digital asset is “heading down that path of acting much more like the physical metal itself.”
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Until then, price action this year proved that gold remained the preferred store of value for most investors. Amid tariff panic and artificial intelligence bubble concerns in recent months, the precious metal was most recently trading around $4,300 per ounce, up nearly 62% year-to-date.
Comparatively, Bitcoin has performed even worse than equities. The S&P 500 is up over 15% year-to-date while Bitcoin is down over 6%.
Bitcoin has fallen as much as 40% from a record price of over $126,000 reached in October, in a decline that began amid threats of an additional 100% tariff on Chinese products from President Donald Trump. Gold, meanwhile, kicked off a 10% rally to a price record of almost $4,400 in response to the panic.
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Geraci attributed Bitcoin’s weakness in recent weeks to volatility in the equity market, combined with excessive leverage in the cryptocurrency market.
When Digital Gold?
Market observers such as Bitwise investment chief Matt Hougan and SkyBridge Capital founder Anthony Scaramucci have in the past set the point of Bitcoin’s maturity as a store-of-value asset at the $500,000 price point. The set benchmark correlated with it reaching half of gold’s market cap at the time.
“My $500K target is based on bitcoin eating into gold’s market share, when, in reality, I think it will actually grow the overall market,” Hougan said at the time. “It also assumes that the total store-of-value market is static, when I think it will grow rapidly as governments continue to pile on debt and print money. Could we see $1 million bitcoin? Higher? Absolutely.”
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Hougan said investors in Bitcoin would still be early until then. He said a key driver of the asset’s potential growth would be central bank buying.
Story Continues“That’s a tall order, but we have seen some progress,” Hougan said at the time, referring to Sen. Cynthia Lummis‘ (R-WY) proposed BITCOIN Act, which calls for the government to purchase over $80 billion worth of Bitcoin.
However, while that legislation remains pending, moves are being made elsewhere. The Czech central bank, for example, last month announced it had purchased $1 million in Bitcoin and other digital assets for a “test portfolio.”
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This article Bitcoin's 'Story Is Still In Its Early Chapters,' NovaDius Wealth Management's Nate Geraci Says As BTC Fails To Match Up Digital Gold Narrative In 2025 originally appeared on Benzinga.com
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