Bitcoin will become ‘less volatile’ and larger than gold: ‘The Bitcoin Standard’ author

Saifedean Ammous, the author of the 2018 academic book “The Bitcoin Standard,” said that Bitcoin already functions as a medium of exchange and that volatility’s effect on that is likely to diminish.

Bitcoin (BTC) can serve as a medium of exchange as it becomes less volatile than gold while surpassing the market capitalization of the largest precious metal, wrote Ammous in a Tuesday post.

“Holding Bitcoin is using Bitcoin as money, and its lack of widespread use as a method of payment is no evidence against its monetization unfolding,” added Ammous. 

The remarks come in response to a passage in Professor Lawrence H. White’s book, “Better Money: Gold, Fiat, or Bitcoin?,” which argued that Bitcoin’s fixed supply makes it too volatile to serve as a medium of exchange. 

Other industry watchers have also predicted that Bitcoin would eventually surpass gold. In May 2025, Bitwise’s head of European research, André Dragosch, told Cointelegraph that their in-house prediction forecasts a $1 million Bitcoin price by 2029, which would make Bitcoin match gold’s market capitalization.

However, Bitcoin’s current $1.6 trillion market capitalization would need to grow by at least 18-fold to surpass Gold’s near $29 trillion market cap to become the leading global asset.

In April 2025, Blockstream CEO Adam Back predicted that Bitcoin will start rivaling gold’s use cases as a monetary hedge, due to global financial instability and rising fiat inflation.