The supply of tokenized gold has surged to $1.5 billion, reflecting increased investor demand for safe-haven assets amid ongoing market uncertainty. This rise in tokenized gold, such as PAXG, is attributed to its benefits of faster settlement and 24/7 trading. Meanwhile, Bitcoin continues to face price pressure, struggling to gain momentum as gold prices climb. The growing interest in tokenized gold comes as the Bitcoin-to-gold ratio falls to levels previously seen at market lows, suggesting a potential valuation gap. This has intensified the debate over Bitcoin's price trajectory, with some analysts questioning its ability to compete with gold as a store of value in the current economic climate.