Bitcoin’s success continues to change the mind of its doubters, as many critics have now become proponents of the digital asset. The cryptocurrency has faced several criticisms considering its rapid price volatility, as prominent investors believe that traditional assets like Gold will likely continue to thrive ahead of the cryptocurrency.

However, the rising prices of the cryptocurrency, of recent, have now started to force many to reconsider Bitcoin ahead of Gold, as the debate is coming close to an end. However, Jeffrey Gundlach, CEO of Doubleline Capital, is the latest Gold enthusiast who has now accepted that the Gold is currently trailing behind Bitcoin.

Gundlach might be considering Bitcoin

In a recent tweet on social media Twitter, the Executive of the investment advisory firm had taken his time to discuss the fortunes of Gold and Bitcoin to his thousands of followers. He observed the fortunes of both assets in the last 180 days and believes that the data available from that period suggests that Bitcoin is currently ahead.

The Gold enthusiast had always been a critic of Bitcoin in the past, as he believes that the cryptocurrency is just a bubble that would fade away soon. In an interview with CNBC late last year, the business executive and Gold investor warned many to stay away from Bitcoin, sighting several issues ranging from non-regulation to price volatility.

He believed those issues would likely lead to losses for investors in the long run, as he warned them not to be swayed by the quick profits. However, in a twist of fate, the investor is now changing his tune, as he is now admonishing Bitcoin and accepting that his most preferred asset- Gold, is now behind Bitcoin. The general believes that when scenarios like this occur, Gundlach might be considering investing in Bitcoin, a move the investor did not confirm.

Is Bitcoin outperforming Gold?

Many had suggested late last year, when Bitcoin was still trading less than $40K; the digital asset has been gaining the attention of many Gold investors looking to join the bandwagon of the assets currently trading at about $54K in today’s prices. Gundlach is not the only Gold enthusiast who is now tending towards Bitcoin, as Peter Schiff, a well-known critic of Bitcoin and Gold investor, now says Bitcoin will soon reach $100K.

In Schiff’s statement, the Bitcoin critics who once claimed that Bitcoin will never reach the $50K mark now believe the assets will likely reach the $100K mark in no time. However, he is not still removing criticism from his statements, as he still conceded that Bitcoin might likely drop to zero soon, too, as against his $100K mark prediction.

However, many Bitcoin analysts are shocked at the U-turn of many Gold enthusiasts and Bitcoin critics, as they are now barring all the risk to commit their resources to Bitcoin. However, the implication of these new detections and change of thought only shows that Bitcoin is outperforming Gold.