4 Reasons Bitcoin (BTC) Is Now More Like a Tech Stock than Gold in 2026

Jakarta, Pintu News – Bitcoin (BTC) is back in the spotlight after Grayscale stated that the movement of the world’s largest crypto asset now resembles tech stocks more than gold.

This statement challenges the long-standing narrative of Bitcoin as “digital gold” or a hedge asset. Amidst global market dynamics, Bitcoin’s correlation with technology stock indices has become stronger, affecting the way investors understand cryptocurrencies in their portfolios.

1. Bitcoin’s Correlation with Tech Stocks Gets Stronger

Grayscale thinks that in the short term, Bitcoin (BTC) shows a movement pattern in line with large-cap tech stocks. When risk sentiment in the equity market increases, BTC prices tend to rally. Conversely, when tech stocks correct due to macroeconomic pressures, Bitcoin also declines.

This phenomenon shows that investors are treating Bitcoin as a high-risk or growth asset. In this context, BTC is viewed more as part of an investment ecosystem based on innovation and technology, rather than as a defensive instrument. This reinforces the perception that crypto has a volatile character similar to technology sector stocks.

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2. “Digital Gold” narrative

Over the past few years, Bitcoin has often been promoted as an alternative to gold due to its limited maximum supply of 21 million coins. In theory, this scarcity makes BTC a potential long-term store of value. However, recent correlation data shows that Bitcoin’s price movements are not consistent with gold’s patterns.

Gold has historically been considered a safe haven in times of economic turmoil or global uncertainty. Meanwhile, Bitcoin has often experienced high volatility during the same period. This difference makes it clear that in practice, cryptocurrencies have not fully replaced gold’s role as a hedge.

3. Macroeconomic Factors Still the Main Determinant

Interest rate policy, inflation, and global liquidity are important factors that affect the price of Bitcoin. When central banks raise interest rates, risky assets such as tech and crypto stocks tend to be depressed. This happens as investors shift to instruments that offer fixed returns and lower risk.

In addition, expectations for global economic growth also affect sentiment towards cryptocurrencies. In periods of economic optimism, interest in innovative assets such as Bitcoin and Ethereum (ETH) increases. Conversely, in conditions of economic slowdown, investors are more cautious and reduce exposure to volatile assets.

4. Implications for Crypto Investors and Financial Markets

Grayscale’s statement has important implications for investment strategies. If Bitcoin moves like tech stocks, then portfolio diversification should take that correlation into account. Putting large portions of BTC and tech stocks together may increase concentration risk.

For novice investors, this understanding helps manage expectations of cryptocurrency volatility. Meanwhile, experienced investors can use these correlations as a basis for macro analysis and risk management. In the long term, Bitcoin’s fundamental characteristics such as limited supply remain relevant, but short-term dynamics are more influenced by equity market sentiment.

Overall, the assertion that Bitcoin now reflects the behavior of tech stocks more than gold confirms that the crypto market is increasingly integrated with the global financial system. Investors can no longer view cryptocurrencies as an asset entirely separate from traditional market dynamics. Understanding cross-asset correlations is key to developing a rational and scalable investment strategy in 2026.

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities are subject to high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying and selling Bitcoin and other crypto asset investments are the responsibility of the reader.

Reference

• Jai Hamid / Cryptopolitan. Grayscale Says Bitcoin Mirrors Tech Stocks. Accessed February 12, 2026.