China Becomes the Highest Gold Buyer Since 2023, Reignites Safe Haven Debate
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Legendary trader Peter Brandt said on X on July 5, 2026 that he is contemplating selling part of his Bitcoin holdings to buy gold, citing XAUBTC charts and suggesting gold could gain substantially on BTC. China has become the largest gold buyer since 2023, reigniting safe-haven debate and signaling a US–China dynamic where Bitcoin adoption faces headwinds as gold accumulation raises market risk aversion and potential downward pressure on crypto prices.
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See what traders are focused on
- Peter Brandt says he will sell part of his Bitcoin holdings to buy gold.
- China has continued to accumulate gold, becoming the highest buyer since 2023.
- The US and China show the desire to become global leaders in BTC and gold, respectively.
Legendary professional trader Peter Brandt is considering selling some of his Bitcoin holdings and investing in gold. He stated this in his latest post on X, citing signs that gold could gain substantially on Bitcoin.
A Move Away From Bitcoin to Gold
Brandt’s position is triggering curiosity among crypto community members, particularly respondents who think the XAUBTC chart attached to his post is…
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