Ex-PayPal Executive Says Bitcoin Is Superior to Gold, Sees $1.5M BTC at Market-Cap Parity

Former PayPal President David Marcus argues that Bitcoin is a superior store of value, while gold offers greater practical utility.

In a recent commentary, Marcus reinforced the “digital gold” narrative, suggesting that Bitcoin brings added functionality compared to gold. His comparison has reignited debate among financial enthusiasts over which asset ultimately holds the upper hand.

Key Points

• Former PayPal President David Marcus says Bitcoin is superior to gold as a store of value.
• A key advantage cited is Bitcoin’s 12-word seed phrase, which can secure and provide access to vast wealth.
• If Bitcoin reaches gold’s market cap, Marcus estimates $BTC could trade between $1.1 million and $1.5 million.
• Critics disagree wth the bold price forecast.

Bitcoin Maintains an Edge Over Gold

David Marcus argues that Bitcoin’s design gives it a clear advantage over gold in today’s financial system. While gold remains a traditional store of value, he notes that its physical form limits portability and efficiency. In contrast, Bitcoin enables fast, seamless transactions in a digital economy.

Moreover, he highlights Bitcoin’s ability to secure and transfer vast wealth using a simple 12-word seed phrase, calling it a remarkable breakthrough. This structure allows users to store and move value without physical assets or intermediaries.

Bitcoin’s Price Potential

Building on this view, he outlines Bitcoin’s upside potential by referencing gold’s market cap. He estimates that if Bitcoin reaches parity with gold, its price could range between $1.1 million and $1.5 million per $BTC. Although he offered no timeline, he stressed that such a valuation is ultimately inevitable.

Meanwhile, Marcus’s bold projection has sparked widespread debate, with market participants questioning whether Bitcoin can realistically reach the $1.5 million mark in its lifetime. Supporters argue that long-term scarcity math alone supports the valuation, citing Bitcoin’s fixed supply as a powerful structural driver.

Additionally, some say Marcus’s background lends weight to the thesis, suggesting that when builders of legacy payment systems speak with conviction, Bitcoin’s repricing moves beyond speculation.

However, critics pushed back on the lack of detail behind the forecast. They argue that price targets are easy to declare, but the real challenge lies in outlining a credible adoption curve, supportive macro conditions, and a clear timeframe. Without those factors, they warn, such projections risk sounding more like hallucination than disciplined risk analysis.

Gold Outperforms Bitcoin YTD

In the meantime, gold continues its strong bullish run. The rally, which began last year, has pushed gold to repeated all-time highs in recent days. Now trading around $5,266, gold is up 21.7% year-to-date and 92.18% over the past year.

Conversely, Bitcoin has delivered a modest 1.73% gain year-to-date. As a result, despite Marcus’s long-term optimism, some large crypto investors are positioning for gold’s momentum by buying tokenized gold on crypto platforms such as Hyperliquid.

As previously reported, one investor deployed roughly $1.5 million in USDC to acquire tokenized gold (XAUT).