Coins of the Year. How Cryptocurrency Traders Made Money on Gold
In 2025, while Bitcoin and most cryptocurrencies experienced significant volatility, gold consistently reached new all-time highs. Crypto investors gained exposure to this rally through gold-backed stablecoins, a niche asset class that became one of the year's top performers with returns of approximately 65%. The leading tokens, Paxos' PAXG and Tether's XAUT, saw their combined market capitalization surge past $4 billion, dominating the sector.
Gold itself hit a record high above $4,380 per ounce in October. In contrast, Bitcoin, which also peaked in October, fell over 30% from its high and was down 8% year-to-date. The article highlights that gold confirmed its role as a safe-haven asset during a year of geopolitical tension, notably after Donald Trump administration's policies began, while Bitcoin's hedging properties were questioned. Gold's performance (+26%) significantly outpaced Bitcoin and major US stock indices like the NASDAQ (+17%) and S&P 500 (+12%).
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