Bitwise: 'Bitcoin as Offense, Gold as Defense'
On Feb. 6, 2026, Bitwise’s Head of Europe summarized a common institutional view: treat gold as a defensive ballast that absorbs losses in market sell-offs, and treat Bitcoin as an offensive allocation that can amplify returns when risk appetite returns. The comment highlights how asset managers are increasingly discussing hybrid allocations rather than choosing one store of value over another, especially given Bitcoin’s higher volatility and gold’s historical stability.
The takeaway for investors is practical rather than prescriptive — combining a defensive metal with a volatile, high-upside crypto can change a portfolio’s risk‑return profile and reduce drawdowns without fully sacrificing upside. For markets, the remark signals continued institutional interest in structuring allocations that use both traditional safe havens and digital assets, a trend that could influence allocation models and product development in 2026.