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Ray Dalio thinks bitcoin is no gold, and that is exactly why bulls are buying

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Ray Dalio thinks bitcoin is no gold, and that is exactly why bulls are buying

Crypto experts are pushing back after billionaire hedge fund manager Ray Dalio renewed his skepticism about bitcoin , arguing that the largest and oldest cryptocurrency lacks the qualities that make gold a reliable store of value.

Speaking on the All-In Podcast, the Bridgewater Associates founder said bitcoin should not be compared to gold because it lacks central bank backing, offers limited privacy and could face an existential threat from future advances in quantum computing. Dalio also pointed to the asset’s public ledger, suggesting transactions can be monitored and potentially controlled.

Dalio, who said last year that he has about a 1% allocation to bitcoin, isn’t new to the criticism of the digital asset. At the time, he said bitcoin faces challenges as a global reserve asset due to its traceability and potential vulnerabilities from quantum computing.

However, industry figures say those critiques reflect longstanding debates around bitcoin, and that the risks Dalio highlighted are already reflected in bitcoin’s much smaller market value compared to gold.

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Bitcoin’s risks are also its upside

However, some analysts say those critiques are exactly why bitcoin is worth buying.

“Dalio’s not ‘wrong’ in an absolute sense,” Matt Hougan, chief investment officer at asset manager Bitwise, told CoinDesk. “There really is some risk with quantum and central banks really aren’t buying bitcoin yet.”

But Hougan said those concerns are precisely why bitcoin still trades far below, roughly 4%, of gold’s total market size. Bitcoin’s market cap currently stands at around $1.4 trillion, compared to gold’s estimated $35 trillion

“These criticisms are quite literally the opportunity,” he said. “We invest in bitcoin because we think these things will change over time; that developers will solve quantum risk and central banks will come around.”

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“If these critiques did not exist, bitcoin would already be at $1 million a coin,” he added.

‘Tired’ old narratives

Alex Thorn, Galaxy’s head of research, said Dalio’s arguments echo older narratives from bitcoin’s early years.

“Ray Dalio’s Bitcoin critiques are reminiscent of tired narratives from the pre-2017 era,” Thorn said in an email, adding that quantum risks are already being addressed by developers.

Read more: Here’s why the quantum threat for bitcoin may be smaller than people fear

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He also said that comparing bitcoin to gold is fair but overlooks how the two assets differ in practice. “Gold might function well stored in a bunker or at the New York Fed, but Bitcoin has actual real-world utility in ways that gold could never match,” he said, pointing to the asset’s growing adoption by both individuals and institutions over nearly two decades.

Monetary shift

Matthew Sigel, head of digital assets research at VanEck, said both gold and bitcoin “have a role” as they represent hard assets from different monetary eras.

“Ultimately, this is a debate between the monetary architecture of the last century and the one emerging in this one,” he said in an email.

Gold, in his view, solved the trust problem in an “analog” financial system built around reported reserves and custodians. Meanwhile, bitcoin addresses that in a digital environment through open-source development and verifiable transactions.

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He added that central banks — like the Czech National Bank — are already beginning to experiment with digital asset exposure and that privacy improvements are emerging through better wallet practices and second-layer networks.

Sigel also pushed back on the quantum computing concern, saying the issue affects the entire financial system rather than bitcoin alone. “Quantum risk is a broader cryptography challenge facing the entire financial system, not a flaw unique to bitcoin,” he said.

Investor surveys, he said, also show that younger investors increasingly favor bitcoin, suggesting a gradual shift in “monetary center.”

Read more: ‘Big Short’ Micheal Burry spots 2022 vibes in bitcoin crash

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Why iGaming Brands Are Turning to Kooc Media for Guaranteed Press Coverage and PR Distribution

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Why iGaming Brands Are Turning to Kooc Media for Guaranteed Press Coverage and PR Distribution

Kooc Media, a specialist PR distribution agency headquartered in the United Kingdom, has opened its doors to the iGaming industry with a dedicated press release service for online casinos, sportsbooks, betting platforms and gambling affiliates. The service delivers confirmed article placements on the agency’s own news websites, expert content creation by an in-house editorial team, and optional newswire distribution that can place gambling brand announcements on some of the biggest media platforms in the world.

Online gambling has quietly become one of the most profitable digital industries on the planet. Millions of players across dozens of regulated markets spend billions each year on sports betting, online slots, live dealer games, poker and other casino products. The industry employs tens of thousands of people and attracts serious investment from both private equity and public markets.

Despite all of this, the iGaming sector remains badly underserved when it comes to professional public relations. Most gambling companies that have tried to secure press coverage through conventional PR agencies have come away disappointed. The standard experience involves paying a retainer, waiting weeks for outreach results and ending up with little or nothing to show for it. Journalists at mainstream outlets frequently ignore pitches from betting and casino brands, and many generalist PR firms lack the knowledge to craft effective messaging for the gambling audience.

Kooc Media spotted this problem years ago while working with clients in similarly challenging industries. The agency was founded in 2017 and built its reputation providing PR services for crypto projects, fintech startups and technology companies — sectors that face comparable media resistance. The decision to formally extend its services to iGaming was driven by increasing demand from gambling brands looking for a PR partner that could actually deliver measurable results.

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“We kept hearing from iGaming companies who had been let down by other agencies,” said Michelle De Gouveia, spokesperson for Kooc Media. “They had spent money on PR and received nothing in return. Our model is the opposite of that. We guarantee placements, we publish fast, and we prove everything with live links. That is what the gambling industry has been waiting for.”


How the Service Works in Practice

The process Kooc Media has developed for its iGaming PR clients is deliberately straightforward. A gambling brand comes to the agency with an announcement — it could be a new casino launch, a sportsbook entering a regulated market, a software integration, a licensing achievement, a rebrand, a partnership deal or any other piece of genuine business news.

From there, Kooc Media’s editorial team takes over. They write a professional press release based on the client’s brief, handling the structure, messaging and tone. The client reviews the draft and requests any changes. Once approved, the article goes live.

Publication happens across the agency’s owned network of news sites, which includes titles such as Blockonomi, CoinCentral, MoneyCheck, Parameter, Beanstalk and Computing. These are established publications covering finance, technology, business and digital trends. All of them are indexed by Google News, which gives every published article the chance to appear in Google News feeds and rank in organic search results.

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Most articles are live within 24 hours of client approval. For brands working to tight deadlines around product launches, sporting events or regulatory milestones, this speed is a major advantage.

Clients who want their announcement to reach a wider audience can choose packages that include distribution through partner newswire networks. At the highest tier, this can result in placements appearing on outlets such as Business Insider, Bloomberg, Benzinga, MarketWatch, USA Today and feeds linked to Dow Jones. For an online casino or sportsbook, landing coverage on platforms of that calibre creates instant credibility.

After every campaign, clients receive a full report containing live links to each published article. There is no ambiguity about what was delivered.


The Strategic Case for iGaming PR

Gambling companies invest heavily in marketing. Paid search, affiliate partnerships, social media campaigns, sponsorship deals and television advertising have all been core channels for the industry. But each of these channels is becoming more difficult or more expensive to use effectively.

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Google restricts gambling advertising in many markets. Social media platforms continue to tighten their rules around betting content. Television advertising bans for gambling are being implemented or expanded across parts of Europe. Even sports sponsorship, once the go-to branding tool for sportsbooks, is under increasing regulatory pressure in several countries.

Public relations cuts through many of these restrictions. A press release published on a respected news website reaches audiences through organic search and news aggregation rather than through paid advertising channels. It is not subject to the same platform restrictions that limit other forms of gambling marketing. And it carries inherent credibility because the content appears on a third-party publication rather than on the brand’s own website or social media accounts.

The search engine benefits are equally important. Every article placed on a high-authority, Google News indexed website creates a backlink that strengthens the client’s domain authority. Over time, this improves rankings for high-value search terms like “new online casino,” “best sportsbook,” “sports betting platform” and dozens of other phrases that drive player acquisition. For iGaming brands competing in organic search, regular press coverage is not just a branding exercise — it is a core part of the SEO strategy.

Player trust is another factor that makes PR particularly valuable for gambling companies. Online gambling requires customers to hand over personal and financial information to a platform they may have never used before. Players naturally look for signals that a brand is legitimate and trustworthy. Seeing a casino or sportsbook mentioned on a well-known news site provides exactly that kind of reassurance.

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Packages Designed Around iGaming Needs

Kooc Media has built its iGaming packages to be flexible enough to serve the full range of businesses operating in the online gambling space. Small operators and startups can access entry-level packages that provide publication across a selection of the agency’s owned websites. These packages are affordable enough for companies working with limited marketing budgets but still deliver real, verifiable media coverage.

Mid-tier options add broader distribution through partner networks and additional placements, suitable for growing brands that want more visibility without committing to a large-scale campaign. Premium packages provide the full newswire experience with distribution across major financial and business media, ideal for established operators making significant announcements.

Custom campaigns are available for companies with specific needs. Whether a client wants to target particular geographic markets, focus on certain types of publications, or run a sustained monthly PR programme, Kooc Media can build a campaign to match.

All packages include managed content creation. Clients never need to provide a finished press release or hire external writers. The agency handles everything internally, keeping the process simple and fast.

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An Agency Built for Industries That Move Fast

Speed, reliability and transparency sit at the centre of everything Kooc Media does. The agency was built to serve industries where timing matters, where results need to be tangible and where traditional PR methods consistently fall short.

“iGaming is a perfect fit for our model,” said De Gouveia. “These are fast-moving companies that need coverage today, not in three weeks. They need to know exactly what they are getting before they spend a penny. And they need an agency that understands their industry well enough to get the messaging right first time. That is what we deliver.”


About Kooc Media

Kooc Media is a specialist PR distribution agency founded in 2017 in the United Kingdom. The company owns and operates multiple news websites and provides guaranteed media placements, professional press release writing, newswire distribution and managed PR campaigns for clients across the crypto, fintech, technology and iGaming industries.

Kooc Media’s gambling PR packages are available now through the company’s website at https://kooc.co.uk.

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Disclaimer: This is a Press Release provided by a third party who is responsible for the content. Please conduct your own research before taking any action based on the content.

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Gold hits worst losing streak in 100 years as bitcoin outperforms as middle east conflict continues

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Gold hits worst losing streak in 100 years as bitcoin outperforms as middle east conflict continues

Gold is currently on its longest losing streak in over a century, its worst run since February 1920, lasting 10 consecutive days, according to Katie Greifeld, Bloomberg analyst.

The yellow metal has fallen as much as 27% from its January all time high, dropping to a low of $4,090, where it found support at its 200 day moving average, a widely watched technical level that often signals longer term trend strength.

However, it has rebounded by around 2% over the past 24 hours, likely signaling the end of the streak. Since the escalation of the Middle East conflict at the end of February, gold remains down roughly 12%.

Meanwhile, bitcoin, often referred to as digital gold, is holding above $70,000, keeping the bitcoin to gold ratio just below 16 ounces. The ratio bottomed at around 12 ounces just before the Middle East conflict, meaning the ratio has risen roughly 30% from those lows, with bitcoin outperforming.

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Charlie Morris, chief investment officer at ByteTree, noted: “I remember the excitement when 1 BTC first surpassed one ounce of gold in March 2017. Since then, it has consistently built higher lows, reaching 2.7 oz in 2019, 3.4 oz during the 2020 pandemic crash, 9.1 oz after the FTX collapse, and 12.4 oz in February this year. Now, one BTC is worth 16 ounces of gold. With gold appearing exhausted, we could reasonably expect a new all time high above 40 ounces in the coming months or years.”

Historically, bitcoin has tended to lag gold in market cycles. Gold typically leads with an initial rally, then consolidates, allowing bitcoin to catch up and outperform.

While, Bloomberg ETF analyst Eric Balchunas argues that bitcoin and gold are not inversely correlated, but rather largely uncorrelated.

He highlights that gold exchange traded funds (ETFs) such as SPDR Gold Trust (GLD) and iShares Gold Trust (IAU) have seen billions of dollars in outflows over the past week.

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In contrast, bitcoin ETFs have recorded around $2.5 billion in inflows this month, with only about $140 million in net outflows year to date, despite bitcoin being down roughly 20% over that period.

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Bitcoin Rallies After Iran Strikes but Safe Haven Role Unproven

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Bitcoin Rallies After Iran Strikes but Safe Haven Role Unproven

Before the Iran war broke out, Bitcoin spent months trading sideways while gold rallied to record levels.

At the time, gold was seen as the go-to safe haven; inflation concerns remained persistent and geopolitical tensions continued to build, while Bitcoin (BTC) failed to live up to that role.

Nearly a month after the US and Israel launched the first strikes on Iran on Feb. 28, that view is being challenged. Bitcoin initially fell to $63,176 on the news of the attacks but has since risen about 12% to $71,012, as of Wednesday.

Meanwhile, rising oil prices and inflation fears have weighed on gold, which fell 11% last week, marking its largest weekly loss since 1983.

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Bitcoin has outperformed gold since the war started. Source: TradingView

However, Jonatan Randin, a senior market analyst at PrimeXBT, said Bitcoin continues to trade like a risk asset rather than a safe haven. It sells off alongside equities during geopolitical shocks. 

“It’s range-bound and showing weakness within a broader downtrend. That’s not safe haven behavior,” he said.

Liquidity is the “dominant” Bitcoin price driver

In recent years, Bitcoin has reacted to global news events, including geopolitical shocks and social media posts from influential figures such as US President Donald Trump. Those moves tend to be short-lived.

Matthew Pinnock, co-founder of decentralized finance project Altura, told Cointelegraph that global liquidity remains the dominant driver of Bitcoin’s price, with macro conditions outweighing headline-driven volatility.

“BTC is trading as a high-beta liquidity asset, which means tighter financial conditions, such as higher real yields, a strong dollar and weaker [exchange-traded fund] inflows, reduce marginal capital and pressure price,” he said.

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A September 2024 analysis compiled and written by Sam Callahan of treasury company OranjeBTC found that Bitcoin’s price had a 0.94 correlation with global liquidity between May 2013 and July 2024.

Callahan’s analysis also showed Bitcoin moved in the same direction as global M2 in 83% of 12-month periods, higher than gold, which logged 68.1%. The closest directional alignment after Bitcoin was the S&P 500 index, which represents US large-cap equities and is an often-cited benchmark for risk assets.

Bitcoin and risk assets displayed directional alignment with global liquidity. Source: Lyn Alden/Ycharts

Randin said more recent data reflected a similar pattern, pointing to global liquidity rising in the third quarter of 2025, around the time when Bitcoin reached a new all-time high.

The divergence highlights a broader issue with Bitcoin’s safe haven narrative. While it has outperformed gold over certain periods since the war began, its sensitivity to liquidity conditions means it reacts more to financial tightening than to geopolitical stress itself. That complicates the idea of Bitcoin as “digital gold,” particularly in environments where inflation and rates move in tandem.

Related: Bitcoin is a real-time sentiment gauge for weekend warmongering

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Oil shock complicates Bitcoin’s inflation narrative

Near-term inflation concerns have been shaping market expectations since the conflict began, driven by rising oil prices and supply disruptions following the closure of the Strait of Hormuz, one of the most important shipping routes in the world.

Randin said rising inflation concerns tied to geopolitical shocks tend to work against Bitcoin in the short term, as higher oil prices feed into inflation expectations, reduce the likelihood of rate cuts and keep real yields elevated. That chain of events tightens financial conditions and suppresses risk appetite, limiting demand for assets like Bitcoin.

In that sense, Bitcoin is not reacting to inflation itself, but to the policy response that follows, said Randin. 

The Iran conflict pushed oil prices above $110 while the Federal Reserve raised its 2026 personal consumption expenditures inflation forecast to 2.7% and signaled a more cautious easing path.

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Trump’s Tuesday announcement to pause Iran strikes pulled Brent crude oil price back down. Source: Yahoo Finance

“Bitcoin could be better understood as a long-term monetary debasement hedge rather than a short-term inflation hedge, and that’s a critical distinction,” Randin said.

“It responds to the expansion of money supply over multi-year cycles, not to CPI prints. On the timescale of a war-driven oil shock, it still behaves like the risk asset it is.”

Related: ‘Bitcoin Standard’ author explores reality where decentralized gold stopped WWI

Bitcoin rebounds during Iran conflict but risk profile remains

Bitcoin’s behavior during the Iran conflict still aligns with a risk asset. Each escalation has triggered selloffs, liquidation cascades and tighter correlation with equities, even as Bitcoin has held up better than traditional assets over certain periods.

“But it’s important to remember the context. Bitcoin entered this conflict already in a technical bear market, down over 40% from its October highs and well ahead of equities in pricing in deteriorating conditions,” Randin said.

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“So while it has held up relatively well since the strikes began, outperforming the S&P 500, gold and silver over certain windows, it hasn’t given us any meaningful directional move.”

A structural shift would require a clear break from that pattern, and those signals have yet to appear.

Onchain data points to a different undercurrent. Continued accumulation, declining exchange reserves and growing holdings among large wallets suggest positioning is building, even if price action has not reflected it.

However, that positioning is still constrained by macro conditions.

“Right now, inflation driven by a hike in oil prices due to geopolitical factors is pushing yields higher and keeping central banks hawkish, which tightens liquidity. That creates a ‘bad inflation’ regime where BTC falls alongside other risk assets,” Pinnock said.

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“The inflation hedge thesis breaks because Bitcoin responds more to monetary expansion than to inflation itself, and currently, conditions are restrictive, not stimulative,” he added.

Until liquidity conditions ease and Bitcoin decouples from equities during stress events, its role as a safe haven remains unproven.

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