Key Points
- Bitcoin is seen as a better investment than gold by several financial experts, including IREN CEO Daniel Roberts.
- Roberts predicts Bitcoin will reach a $900,000 price by 2030, surpassing gold in market cap.
While the price of gold reaches a record high of $2,848 per ounce, a growing number of financial professionals are expressing a preference for Bitcoin. Daniel Roberts, CEO and founder of the Nasdaq-listed tech company IREN, believes Bitcoin needs to reach a minimum price of $900,000 to surpass gold in terms of market cap by 2030.
Daniel Roberts and Bitcoin
Roberts is well-acquainted with the world of cryptocurrency. His company, IREN, is an Australian enterprise that provides data centers powered by renewable energy for Bitcoin mining and other ventures. Amid a strong crypto rally in November 2024, Roberts stated that Bitcoin was “dirt cheap”.
Bitcoin is often compared to digital gold due to its scarcity and its perceived safety during economic instability. Roberts uses these gold metrics to predict the future value of Bitcoin. He believes that as Bitcoin is increasingly seen as a safe haven asset, its market cap should surpass that of gold by 2030.
Bitcoin vs Gold
Currently, the gold market cap stands at $19.3 trillion, while Bitcoin’s market cap is $1.95 trillion. For Bitcoin to reach parity with gold, it would need a tenfold price increase. If Bitcoin’s price exceeds $1,000,000, it will surpass gold in terms of market cap. Roberts cites the traction of ETFs and the purchase of Bitcoin by institutional investors as factors contributing to Bitcoin’s rapid price growth.
However, by 2030, the gold market cap may have substantially increased. Over the past five years, the price of gold has grown by over 80%. According to Roberts’ logic, Bitcoin may need to exceed one million or require more time to reach gold parity.
Roberts describes Bitcoin as “gold 2.0”, stating it’s better at being gold than gold itself due to its scarcity, ease of transfer, and divisibility. He argues that all the characteristics that give gold value, Bitcoin performs better.
Roberts is not alone in his belief that Bitcoin is superior to gold. Many professionals from both the crypto community and the broader financial sector share this view. Despite temporary divergence between rising gold prices and declining Bitcoin, this belief remains unchanged.
In an interview with Bloomberg in 2025, Ark Invest CEO Cathie Wood described Bitcoin as a new asset class and a new global monetary system. She echoed Roberts’ sentiment, stating that Bitcoin is superior to gold and serves as a hedge against inflation and deflation.
Other notable proponents of Bitcoin over gold include Mark Cuban, Jerome Powell, Brian Armstrong, Dan Morehead, and Matthew Hougan. They all agree that Bitcoin is a better store of value and hedge against economic crises.