Silver surged to an all-time high as the world grapples with geopolitical tensions and financial markets, one thing is clear: investors are choosing safety over risk. While Bitcoin continues to decline, surprising many who consider it the ‘digital gold’.
At 9:10 AM this morning, Bitcoin opened at $88,877 and is up 0.11% since it opened early Wednesday in Asian trading.
Silver is now trading above $95, up more than 200% in a year.
The precious metal is back in the spotlight due to its status as a physical asset, with real value and widespread use in industries such as technology and solar energy.
In an uncertain environment, investors see silver as a more stable safe haven.
In contrast, Bitcoin has fallen below $90,000, with its annual performance now in negative territory. More worryingly, Bitcoin has been seen moving in line with the stock market, particularly technology stocks.
When the market fell, Bitcoin also plunged, contradicting its image as a safe haven.
The selling pressure was also exacerbated by leveraged trading, as the price drop triggered a wave of liquidations worth billions of dollars.
This proves that Bitcoin is still very sensitive to market fears and risk sentiment.
In conclusion, silver emerged as the winner in a phase of global uncertainty, while Bitcoin is still fighting for its own identity.
For now, investors seem to have more faith in the old metal than in the new digital asset.
