Venture capitalist Tim Draper boldly declared “gold is dead” in a provocative social media post, seemingly unfazed by the precious metal’s stellar performance in 2025. His timing couldn’t have been more ironic – gold just surpassed $3,500 per ounce, marking its highest level ever while Bitcoin remained stubbornly flat.
In a stunning display of poor timing, Draper declares gold’s death just as it hits record highs while Bitcoin stagnates.
Draper’s anti-gold rant emphasized Bitcoin’s supposedly superior qualities: it’s borderless, permissionless, and programmable. “Gold just sits there. Bitcoin moves,” he declared, apparently forgetting that gold prices have moved up a hefty 20% this year. He even took a swipe at gold’s practicality, noting “You can’t buy coffee with gold. But with Bitcoin, you can.” Tariff-driven turbulence in the global economy has only strengthened gold’s appeal among investors seeking stability. Unlike traditional currencies, Bitcoin operates on decentralized networks that eliminate the need for intermediaries.
The legendary venture capitalist‘s latest Bitcoin prophecy puts the cryptocurrency at $250,000 by mid-2025, a prediction he revised after his end-of-2022 forecast fell embarrassingly short. Not content with that figure, he’s now floating the idea of Bitcoin hitting $3 million if it becomes the world’s dominant currency. Dream big, right? Draper’s previous forecast of Bitcoin reaching $250,000 by the end of 2022 proved wildly inaccurate.
Critics weren’t buying it. Canadian billionaire Frank Giustra dismissed Bitcoin as “pure speculation,” while gold bug Peter Schiff couldn’t resist pointing out the obvious: gold’s outperforming Bitcoin by a mile in 2025. Social media users quickly piled on, highlighting the glaring contradiction between Draper’s declaration and market reality.
The timing of Draper’s proclamation is particularly interesting, given that gold’s surge has been driven by exactly what it’s famous for – being a safe haven during economic uncertainty. While Bitcoin stayed flat, investors flocked to the yellow metal amid rising tariff-driven economic tensions.
This latest episode has only intensified the ongoing Bitcoin versus gold debate. While Bitcoin offers revolutionary payment features that gold can’t match, its performance during economic stress hasn’t exactly screamed “safe haven.”
Still, Draper remains undeterred, championing Bitcoin’s technological advantages over traditional precious metals. Sometimes, even legendary venture capitalists have to learn that timing is everything.
