Bitcoin or Copper? Investors Reassess as Metal Outperforms Crypto in 2025
Metals, particularly copper, are outperforming cryptocurrencies in 2025, leading investors to reassess copper as a compelling macro asset.Summary
In late 2025, a "metal season" has emerged, with precious metals like gold, silver, and platinum reaching record highs due to inflation and macroeconomic fragility, significantly outperforming cryptocurrencies. Base metals, especially copper, have also rallied, with copper prices surpassing $12,000 per ton and showing year-to-date gains over 40%, while Bitcoin is down approximately 6%. Analysts expect this commodity momentum to continue into 2026, citing the devaluing of fiat currency as a driver. Copper is highlighted as a standout due to a growing supply-demand imbalance, with production in the largest producing country at a ten-year low, suggesting potential for an explosive price move. Conversely, Bitcoin's outlook for early 2026 is mixed, leading some investors to shift capital, exemplified by one trader selling all Bitcoin to buy physical nickels based on the metal's intrinsic value exceeding its face value. This trend suggests a market rotation toward physical scarcity over digital narratives.
(Source：BeInCrypto)