In 2025, gold has emerged as the standout asset, delivering returns of more than 50%, marking one of its strongest performances in over a decade. The precious metal became the clear winner of what mainstream commentators dubbed the “debasement trade,” a viral term that captured growing investor anxiety over global debt levels, excessive borrowing, and the weakening U.S. dollar, which suffered its worst year in many. By October, gold’s rally reached record highs, coinciding with a blow-off top at almost $4,400 an ounce, now stabilizing around the $4,000-per-ounce level.

This environment validated long-standing warnings about monetary debasement, a concern often voiced by the bitcoin community. Yet ironically, it was gold, not bitcoin, that captured investors’ attention and capital this year. Gold has so far delivered an 8 times better return than bitcoin in 2025. Peter Schiff, the outspoken gold advocate and notorious bitcoin critic, has been vindicated by the market’s performance, cementing his stance after years of skepticism towards digital assets.

While Schiff continues to champion gold’s role as the ultimate store of value, the broader market narrative has evolved between traditional safe havens and digital alternatives.