Gold ETFs are booming – PAXG & XAUT top the list. At the same time, the habitual opponents are all too eager to declare crypto is a bust. Don't buy it. This is not an anti-crypto message, but rather about the government rigging the industry’s downfall. And it’s the pernicious effort behind the scenes by central banks and regulatory agencies to crush innovation and free markets. Think I'm exaggerating? Let's dig in.

Fiat Foolishness Fuels Gold, Crypto

For decades, politicians have been siphoning off our hard-earned money for pet projects. Artificially low interest rates, quantitative easing (a.k.a printing money), and cumulative debt have placed a tremendous burden on the world’s fiat currencies. You know it, I know it. We’re all experiencing it when we head to the grocery store or fill up our gas tank. This manipulation causes people to fall into a frantic scramble for other options. They want stores of value that politicians and central bankers cannot arbitrarily debase.

Gold, the traditional safe haven, benefits. Hence the massive inflows into gold ETFs. Folks are traumatized, and they’re fleeing towards what looks like safety. Gold isn't the only beneficiary. Crypto, at its core, offers the same promise: a decentralized, permissionless system outside of government control.

While gold lauds a pretty well­ established regulatory environment (at least compared to crypto), crypto is always (and I do mean always) on the ropes. Regulatory uncertainty, outright bans in certain countries, and the omnipresent threat of new restrictions add to the hostility. This is not about protecting investors, this is about protecting the status quo financial order. Put another way, they would prefer to make you hold your dollars in their system, which is totally under their control.

Regulation: Crypto's Silent Killer

Look at the numbers: PAXG and XAUT are up over 23% year-to-date, mirroring gold's rally. That’s a very good sign that the demand is there, that people want exposure to alternative assets. The crypto market at large, including Bitcoin, is tanking hard. This decline should not be seen as a sign of underlying strength, but rather the result of the difficult environment created by ongoing regulatory headwinds.

What if gold were treated to the same degree of skepticism and regulation as crypto? What if every gold transaction were required to go through the same KYC/AML processes? Had gold ETFs been enjoying the same inflows? Highly doubtful.

The surge in gold ETF inflows (226.5 tonnes in Q1 2025!) and tokenized gold minting ($42.7 million) isn't a testament to gold's superiority. It's a testament to the uneven playing field. It’s a natural outcome of government policies that rig the game in favor of the old guard and against innovation.

Yet the solution to all of this isn’t more regulation, more government intervention. It's less. We don’t want the left’s command and control, we want the free market to work. Let crypto compete with gold and fiat currencies on a level playing field without government favoritism. Stop trying to pick winners and losers.

Free Markets, Not Government Handouts

I'm a Gen Xer. I was raised on the internet, as a child of its worldwide proliferation and gig economy promise of decentralization and individual empowerment. Crypto embodies that promise. It can’t flourish while squashed under the boot of government overreach.

Yes, there are risks involved in crypto. There are scams and bad actors. That’s true of any market, including the stock market and the gold market. The solution is not to outlaw all of it — far from it — but to better inform investors and have them choose their own adventure.

  • Stop: Creating regulatory hurdles that stifle innovation.
  • Start: Treating crypto as a legitimate asset class.
  • Trust: Individuals to make their own informed decisions.

Currently the total market capitalization of gold-backed cryptocurrencies is approaching $1.4 billion. That's not nothing. That’s an unambiguous sign that there is a huge appetite for these assets. Let’s not squash all that demand with a bunch of pointless regulation.

The government isn't going to protect you. They’re not going to protect us, they’re going to protect themselves and their cronies. It’s your financial future, so it’s on you to demand accountability. Do your research. Understand the risks. And insist that your elected officials work to ensure a level playing field for innovation.

Take Responsibility, Protect Your Freedom

Don't let them fool you into thinking that gold's rise is crypto's failure. It's a symptom of a much larger problem: government meddling in the free market. Wake up, people. Your financial freedom depends on it.

This isn’t only a financial issue, it’s a question of liberty. More fundamentally, it’s the right to choose how you store your wealth and do your transactions. Don’t let the government steal that freedom from you.

This isn't just about money; it's about freedom. It's about the right to choose how you store your wealth and conduct your transactions. Don't let the government take that away from you.