Lyn Alden predicts that Bitcoin will outperform gold in the next two to three years.

Bitcoin is predicted to outperform gold in price performance from now until 2029, following recent strong growth in gold, according to macroeconomist Lyn Alden.

“If I had to choose between Bitcoin and gold in the next two to three years, I would bet on Bitcoin,” Alden shared on the New Era Finance podcast on Wednesday.

Lyn Alden was interviewed on the New Era Finance podcast this week | Source: New Era Finance Podcast “If I had to forecast which asset would outperform, I lean toward Bitcoin,” she added. “Usually, there’s a fluctuation between the two assets. When gold has surged so much, the story of diminishing returns over cycles will also be erased in the next cycle.”

Many industry leaders in cryptocurrency, including Coinbase CEO Brian Armstrong, have predicted that Bitcoin will reach $1 million by 2030, especially as regulatory clarity in the U.S. improves — which Armstrong calls a “guideline for G20 countries.”

Lyn Alden dismisses the view that gold is in a bubble

Bitcoin is often compared to digital gold, serving as an inflation hedge and a safe haven during economic instability. However, Alden believes gold is currently experiencing an overly optimistic phase after hitting a record high of $5,608 in January.

“I don’t think gold is in a bubble, but clearly market sentiment is quite exuberant,” she commented.

The Fear & Greed Index by JM Bullion — measuring market sentiment toward gold — recorded a “Greed” level with a score of 72/100 on Friday. Meanwhile, the same day, the Crypto Fear & Greed Index, which gauges sentiment in the cryptocurrency market, showed “Extreme Fear” with a score of just 18/100.

Alden also considers the negative sentiment toward Bitcoin as “not entirely fair.” According to data from CoinMarketCap, Bitcoin is currently trading at $71,164, down 44% from its peak of $126,000 in October.

“I try not to get caught up in overly rigid narratives about the relationship between these two assets. Gold and Bitcoin can both rise or fall together, depending on the economic context,” Alden explained.

The debate over Bitcoin’s role

Although Bitcoin and gold are often seen as alternatives to fiat currency, their relationship isn’t always synchronized. There are times when their prices move in tandem during macroeconomic instability, but also times when they diverge and move in different directions.

Alden’s comments come shortly after billionaire investor Ray Dalio expressed skepticism about Bitcoin’s role as a long-term store of value and safe haven. He argued that Bitcoin lacks support from central banks and still raises concerns about privacy and resistance to threats from quantum computing.

“Gold is not a speculative asset,” Dalio emphasized on Tuesday, affirming that gold is “the oldest and most reliable form of money,” and the second-largest reserve asset held by central banks.

Meanwhile, CryptoQuant CEO Ki Young Ju stated in October 2025 that the correlation between Bitcoin and gold is increasing as both assets strengthen their positions as risk hedges against macroeconomic instability.