Gold has surged to new highs while Bitcoin has pulled back, and Mark Moss says the divergence is not a contradiction. It is the signal.
Speaking with Kitco News at VRIC 2026 in Vancouver, Moss, host of The Mark Moss Show and Partner at the Bitcoin Opportunity Fund, challenges the idea that gold’s rally is simply an inflation or debasement trade. He points out that “from 2020 to 2024, the gold price didn’t go anywhere at all,” despite unprecedented money printing, asking, “if it’s really about inflation, and if it’s really about debasement, then why didn’t it move off of that?”
Moss says the move reflects a deeper shift. Central banks continue accumulating gold, while individuals increasingly turn to Bitcoin. When Bitcoin is priced in gold, he said, “you see a different picture,” adding, “we don’t know bottoms or tops until we look backwards, but we know when it’s cheap.” He also warns that banks are resisting yield-bearing stablecoins because “they don’t want stablecoins that can pay a yield,” highlighting growing pressure on the traditional banking system.
Recorded January 25, 2026.
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00:36 – Mark Moss origin story: from gold bug to Bitcoin
01:41 – Gold vs Bitcoin: why they don’t move together
04:28 – Trust breaks down: why gold is surging now
05:49 – Bitcoin cycles: what the 4-year pattern signals
09:12 – Stablecoins vs banks: the yield battle
14:05 – Bitcoin strategic reserves: political headwinds
15:04 – MicroStrategy: 709,000 BTC and the “NAV” debate
16:23 – Bitcoin priced in gold: “You see a different picture.”
17:22 – Three investor archetypes: stack, hedge, or trade
18:45 – Momentum vs fundamentals in gold and Bitcoin
21:22 – Regulation tailwinds: GENIUS, CLARITY, and macro setup
#Gold #Bitcoin #GoldVsBitcoin #SoundMoney #MonetaryTrust #CentralBanks #Stablecoins #FiatCurrency #MarkMoss
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