Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. Bitcoin "is not digital gold," according to Deutsche Bank (NYSE:DB) Macro Strategist Marion Laboure. "If I look at the 2025 performance, it’s not a digital gold, or it’s no longer a digital gold," Laboure told Yahoo Finance in a Feb. 11 interview. "Gold outperformed by 65% in 2025, Bitcoin declined by 6.5%, so we are clearly seeing this divergence." The leading digital asset is also not a means of payment or currency, Laboure said, adding "it’s unlikely to replace gold or fiat."
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• Professional traders demand transparency — see why Kraken Pro has become one of crypto's most trusted advanced trading platforms. She said Bitcoin was an asset transitioning from purely speculative to having a real use case. Laboure’s remarks come as Bitcoin’s price struggles have spilled into this year. The asset has fallen as low as $60,000 before recovering to most recently trade around $67,000. Still, it remains down over 23% so far this year. Laboure told Yahoo Finance that Bitcoin’s price struggles were likely due to stalled market structure legislation in the U.S., a hawkish Federal Reserve, and overall risk-off sentiment. She said this has led to significant Bitcoin ETF outflows since October and a sharp decline in U.S. cryptocurrency adoption from 17% of Americans owning cryptocurrencies last July to 12% in December. A convincing market rebound is not likely until regulations and use cases become clearer, Laboure said. See Also: Instead of buying someone else's ETF, build an index around your own thesis with Public's AI tools. Get started and see if you qualify for the 1% match. Trade cryptocurrency and stocks on Kraken Pro, an advanced trading platform offered by Kraken, one of the world's most established cryptocurrency exchanges. The platform offers advanced order type and deep liquidity to help users execute complex strategies with precision. Kraken Pro is free to access with a Kraken account. Laboure’s sentiments somewhat echo recent views from Standard Chartered Global Head of Digital Assets Research Geoffrey Kendrick. Kendrick told investors in a recent note that the cryptocurrency market was likely to see more pain in the short term, forecasting a further drop to $50,000. However, he said the market could catch a bid when Federal Reserve chair nominee Kevin Warsh potentially takes office around May, setting a year-end target of $100,000.