{"id":54640,"date":"2026-09-03T16:31:34","date_gmt":"2026-09-03T21:31:34","guid":{"rendered":"https:\/\/bitcoinmagazine.com\/?p=54640"},"modified":"2026-09-03T16:31:52","modified_gmt":"2026-09-03T21:31:52","slug":"bitcoin-gold-correlation-soars","status":"publish","type":"post","link":"https:\/\/bitcoinmagazine.com\/news\/bitcoin-gold-correlation-soars","title":{"rendered":"Bitcoin-Gold Correlation Hits Six-Year High as Debasement Fears Mount"},"content":{"rendered":"<div id=\"bsf_rt_marker\"><\/div>\n<p class=\"wp-block-paragraph\">Bitcoin&#8217;s correlation with gold is at its highest in six years as investors increasingly look for ways to hedge against currency debasement.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">That&#8217;s <a href=\"https:\/\/experts.bitwiseinvestments.com\/cio-memos\/more-than-ever-bitcoin-is-trading-like-digital-gold\" target=\"_blank\" rel=\"noopener\">according<\/a> to a new report from Bitwise, which this week pointed out that the precious metal and leading cryptocurrency are trading in lockstep because the U.S. government has &#8220;materially intervened in the macro picture.&#8221;&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Bitcoin started surging last month, after the U.S. Treasury Department <a href=\"https:\/\/home.treasury.gov\/news\/press-releases\/sb0607\" target=\"_blank\" rel=\"noopener\">said<\/a> it would more than double the size of its government debt repurchases. The coin had its best run in three years and third best August ever.&nbsp;<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-rich is-provider-x wp-block-embed-x\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\">JUST IN: Bitcoin&#39;s correlation with gold hit a six-year high, according to Bitwise \ud83d\udc40<br><br>&quot;The last time it was this high was 2020, after the Covid stimulus.&quot; \ud83d\ude80 <a href=\"https:\/\/t.co\/fHtQUlR9Ol\">pic.twitter.com\/fHtQUlR9Ol<\/a><\/p>&mdash; Bitcoin Magazine (@BitcoinMagazine) <a href=\"https:\/\/x.com\/BitcoinMagazine\/status\/2095597794119533007?ref_src=twsrc%5Etfw\">September 3, 2026<\/a><\/blockquote><script async src=\"https:\/\/platform.x.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">&#8220;The last time the bitcoin-gold correlation was that high was in 2020, following the rounds of fiscal and monetary stimulus during the Covid crisis,&#8221; Bitwise&#8217;s European Head of Research, Andr\u00e9 Dragosch, wrote.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">He added that bitcoin&#8217;s correlation with the stock market dropped to a one-year low, &#8220;implying some kind of decoupling between hard assets and the stock market.&#8221;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Bitcoin has been pushed as &#8220;digital gold&#8221; for years but has sometimes traded with tech stocks as a &#8220;risk-on&#8221; asset.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">But the so-called debasement trade \u2014 when investors buy an asset as a way to hedge against a currency losing value \u2014 was a much-talked about investment strategy last year and appears to be back.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The reason is down to the government intervening in markets, Dragosch argued. When the Treasury said it would try to rein in long-term borrowing costs, the dollar&#8217;s value slid and sent investors flooding back to gold \u2014 and bitcoin.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The Treasury the same week also said the U.S. public debt exceeded $40 trillion for the first time. Excessive debt also undermines confidence in the dollar.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">&#8220;Investors are no longer asking whether to hedge currency debasement with gold or bitcoin. They&#8217;re simply hedging with both,&#8221; the report added.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">&#8220;Bitcoin spent its first fifteen years being priced as a risk asset. If this correlation trend with gold holds, the next fifteen may look very different.&#8221;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The leading cryptocurrency again rallied this week, and was <a href=\"https:\/\/bitcoinmagazine.com\/bitcoin-price\">recently trading<\/a> for close to $81,438 after jumping nearly 6% over a 24-hour period.&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin is trading with gold \u2014 something it does when investors lose confidence in the dollar. <\/p>\n","protected":false},"author":3860,"featured_media":54641,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4378],"tags":[76,6711,559],"class_list":["post-54640","post","type-post","status-publish","format-standard","has-post-thumbnail","category-news","tag-bitcoin","tag-debasement-trade","tag-gold"],"author_data":{"id":3860,"name":"Mathew Di Salvo","nicename":"mathewdisalvo","avatar_url":"https:\/\/bitcoinmagazine.com\/wp-content\/uploads\/2026\/07\/cropped-Mathew-Di-Salvo-scaled-1.jpeg"},"featured_image_url":"https:\/\/bitcoinmagazine.com\/wp-content\/uploads\/2026\/09\/Pics-5.jpg","_links":{"self":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/posts\/54640","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/users\/3860"}],"replies":[{"embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/comments?post=54640"}],"version-history":[{"count":1,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/posts\/54640\/revisions"}],"predecessor-version":[{"id":54643,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/posts\/54640\/revisions\/54643"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/media\/54641"}],"wp:attachment":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/media?parent=54640"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/categories?post=54640"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/tags?post=54640"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}