<p>Economist <strong>Mohamed A. El-Erian</strong> noted on Tuesday that gold has delivered higher returns than <strong>Bitcoin </strong>(CRYPTO: BTC) over the last five years.</p>



<h2>Gold Outshines Bitcoin</h2>



<p> El-Erian, the Chief Economic Advisor at <strong>Allianz</strong>, took to X, comparing the performance of the two marquee assets.</p>



<p>“This outperformance is playing out this year…and also today, as gold bounces while Bitcoin continues to languish,” El-Erian said</p>



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote><p lang="en" dir="ltr">Bitcoin vs. Gold<br/>Following recent market shifts, Gold is now outperforming Bitcoin over a five-year horizon (please see chart below from John Authers).<br/>This outperformance is playing out this year…and also today, as gold bounces while Bitcoin continues to languish (CNBC… pic.twitter.com/Rtgxk3aIRH</p>— Mohamed A. El-Erian (@elerianm) February 3, 2026</blockquote>
</div></figure>



<p>Spot gold has had the better of Bitcoin lately, leading over the past year and over a 5-year timeframe. </p>



<p>In fact, Bitcoin has crashed below $73,000, hitting levels last seen in November 2024. Meanwhile, the yellow metal is on a record-breaking tear, surging to all-time highs above $5,600 an ounce in early February.</p>



<p>However, on a longer 10-year timeframe, gold lags far behind Bitcoin. While the apex cryptocurrency has delivered whopping returns of 20,366%, gold has gained only 326%.</p>



<figure class="wp-block-table"><table><thead><tr><th><strong>Asset</strong></th><th><strong>YTD Gains +/-</strong></th><th>5-Year Gains <strong>+/-</strong></th><th>10-Year Gains</th><th><strong>Price (Recorded at 2:20 a.m. ET)</strong></th></tr></thead><tbody><tr><td><strong>Spot</strong> <strong>Gold</strong></td><td>+17.44%</td><td>+179%</td><td>+326%</td><td>$76,454</td></tr><tr><td><strong>Bitcoin            </strong></td><td>-14.45% </td><td>+103%</td><td>+20,366%</td><td>$5,068</td></tr></tbody></table></figure>



<h2>Will Bitcoin Follow In Gold’s Footsteps?</h2>



<p>El-Erian’s comments come amid ongoing debates about the relative merits of Bitcoin and gold as investment assets.</p>



<p>Notably, renowned investor <strong>Cathie Wood</strong> said earlier this week that gold could be a leading indicator for Bitcoin’s performance, citing historical data showing gold’s rally before Bitcoin’s bull run.</p>



<p><strong>Polymarket </strong>traders aren't too bullish on Bitcoin either. They see just a 36% chance of Bitcoin outpacing gold in 2026, with more than half betting it'll fall short.</p>



<p><em>Photo courtesy: Shutterstock</em></p>

<p>Economist Mohamed A. El-Erian stated that gold has outperformed Bitcoin over the past five years, with gold currently surging while Bitcoin struggles. Gold has gained 179% over five years, compared to Bitcoin's 103%. Despite Bitcoin's long-term returns of 20,366% over ten years, recent trends show a 36% chance of Bitcoin outperforming gold in 2026, as noted by Polymarket traders. El-Erian's comments highlight ongoing debates about the investment merits of both assets.</p>

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Mohamed El-Erian Says Gold Has Outperformed Bitcoin Over 5 Years—Says It's Happening Again In 2026