Bitcoin Could Rival Gold as Inflation Hedge, Says Blockstream CEO

Blockstream CEO Adam Back has predicted that Bitcoin could begin to rival gold as a hedge against inflation and geopolitical uncertainty over the next decade. Speaking during a fireside chat at Paris Blockchain Week 2025, Back highlighted the growing recognition of Bitcoin as a store of value, despite its recent 30% correction from its all-time high above $109,000. He compared Bitcoin to gold, noting its scarcity and the potential for broader adoption driven by rising inflation and monetary instability across global economies.

Back emphasized that the supply of major currencies like the US dollar and the euro has increased by more than 50% over the past five years, which could drive Bitcoin’s adoption as a hedge against monetary destabilization. He predicted that the inflation rate could be around 10% or 15% for the next decade, making it difficult to achieve such returns with traditional investments like stocks or housing rentals. This scenario presents a real prospect of Bitcoin competing with gold and taking on some of its use cases, such as a geopolitical hedge.

Beyond monetary instability, Back also noted that US-based spot Bitcoin exchange-traded funds (ETFs) and a more crypto-friendly US administration could boost Bitcoin’s adoption. He argued that private investors should lead the way in Bitcoin adoption before governments, as governmental accumulation could create a wave of competition among nations. Back also mentioned that the current US administration under President Donald Trump is removing negative regulations that were intended to slow down crypto adoption, such as Operation Chokepoint 2.0.

On March 7, President Donald Trump signed an executive order to create a Bitcoin reserve seeded with Bitcoin seized from criminal cases, a move that industry leaders have called a major step toward integrating Bitcoin into the traditional financial system. This development, along with the approval of US-based spot Bitcoin ETFs, could further drive Bitcoin’s adoption as a hedge against inflation and geopolitical uncertainty.