A recent revelation that more Americans now own Bitcoin than gold has ignited significant discussion within financial circles, highlighting a major shift in retail investment trends. Industry observer Gordon shared this insight on social media on May 21, 2025, emphasizing the growing acceptance of Bitcoin as a store of value, challenging gold’s centuries-old status as a safe-haven asset.
As of May 21, 2025, Bitcoin’s price surged to $68,450 at 10:00 AM UTC, a 3.7% increase over the prior 24 hours, according to CoinMarketCap. Meanwhile, gold prices remained relatively flat, hovering around $2,415 per ounce during the same period, based on Bloomberg data. This divergence underscores Bitcoin’s rising appeal amid inflation concerns and economic uncertainty in U.S. equity markets.
On May 20, 2025, the S&P 500 closed down 0.5% at 5,295 points, while the Nasdaq, heavily weighted toward technology and innovation sectors, fell 0.8% to 16,720 points. This risk-off sentiment appears to be driving capital flows into alternative assets such as Bitcoin, which offers a hedge against stock market volatility. Bitcoin’s market capitalization reached $1.35 trillion as of 11:00 AM UTC on May 21, drawing increased attention as a viable portfolio diversifier.
From a trading perspective, the trend of Bitcoin ownership surpassing gold ownership is creating fresh opportunities for cryptocurrency investors. Retail adoption is fueling higher trading volumes, with Bitcoin’s 24-hour trading volume hitting $42.3 billion at 12:00 PM UTC on May 21, according to CoinGecko. Major trading pairs like BTC/USD and BTC/ETH on platforms such as Binance and Coinbase saw significant activity, with BTC/USD alone accounting for $18.7 billion in volume during this timeframe. This surge in liquidity allows traders to enter or exit positions with minimal price slippage.
Notably, Bitcoin’s correlation with stock indices has weakened, dropping to 0.35 relative to the S&P 500 as of May 21, based on TradingView data. This decoupling signals that Bitcoin is increasingly behaving as an independent asset class, offering investors a strategic tool to hedge against equity market downturns. On-chain analytics reveal continued retail interest, with Bitcoin wallet addresses holding over 0.1 BTC reaching 3.2 million as of 1:00 PM UTC, according to Glassnode.
Crypto-related stocks are also reflecting this positive momentum. MicroStrategy (MSTR), a prominent Bitcoin-focused firm, saw its shares rise 2.1% to close at $1,584 on May 20, signaling investor confidence driven by Bitcoin’s rally.
Technical indicators support a bullish outlook for Bitcoin amid this ownership shift. On May 21, Bitcoin broke above its 50-day moving average of $65,200 at 2:00 PM UTC, with the Relative Strength Index (RSI) climbing to 62, indicating upward momentum without overbought conditions. Meanwhile, Bitcoin futures trading volume on the CME surged 15% to $9.8 billion on May 20, reflecting sustained institutional interest.
Further underscoring Bitcoin’s distinct position, its correlation with gold has fallen sharply to 0.12 as of May 21, per CoinMetrics data, highlighting investor perception of Bitcoin as a unique asset rather than a direct gold substitute. Institutional inflows into Bitcoin ETFs, such as the iShares Bitcoin Trust (IBIT), totaled $120 million in net inflows on May 20, according to Farside Investors, signaling a shift of institutional capital from traditional markets to cryptocurrencies.
As macroeconomic pressures weigh on U.S. equities—with the Dow Jones Industrial Average slipping 0.4% to 39,650 points on May 20—the demand for non-correlated assets like Bitcoin is increasing. Younger investors, in particular, appear to prioritize Bitcoin over gold, a demographic trend noted by Gordon that could amplify Bitcoin’s price momentum in the near term.
Traders are advised to watch key resistance levels near $69,500, identified on May 21 via TradingView, while monitoring for signs of stock market recovery that might shift capital flows back toward equities. Overall, the data indicates Bitcoin’s growing role as a modern store of value, with robust trading opportunities emerging from both retail enthusiasm and institutional adoption.