Can Bitcoin replace gold? BTC, gold or PAXG: how to choose (2026)
In September 2026 the short-term correlation between Bitcoin and gold rose to its highest level since 2020, and the 'digital gold' narrative made a comeback. But that does not mean Bitcoin can replace gold: gold's normal volatility and typical drawdowns are clearly lower than BTC's, so it behaves more like a defensive asset. This article uses one selection table to answer whether you should hold BTC, physical gold or the gold token PAXG, and explains what this 'anti-dollar-debasement' trade really is, plus why the correlation may reverse.