Despite increased institutional adoption and the success of Bitcoin ETFs, Bitcoin has failed to outperform gold. The Bitcoin-gold ratio has declined to its lowest level since November, down over 19% from its peak in December. Meanwhile, gold is nearing a new record high, currently trading at $2,827 per ounce. Gold's strong performance challenges the idea of Bitcoin replacing it as a store of value, as advocates have argued for the U.S. government to sell its gold holdings and invest in Bitcoin. However, Bitcoin has not been able to break away from gold in the past four years.



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