DoubleLine CEO Jeffrey Gundlach took a direct shot at Bitcoin during a CNBC interview right after the Federal Reserve’s January 2026 press conference.
The billionaire investor pointed out that gold has climbed 90% over the past 12 months while Bitcoin has dropped over the same period. He called the shift a move away from “hype” and toward tangible assets.
Gundlach quoted investor Jim Grant: “The price of gold is the reciprocal of investors’ confidence in central banking.”
Powell Keeps Rates Steady, Gives No Guidance
Fed Chair Jerome Powell held rates at 3.5% to 3.75% but offered little else. Gundlach summed up the press conference with what he called his “phrase of the meeting,” Powell’s repeated line: “I got nothing for you on that.”
Gundlach said he expects no more rate cuts under Powell’s remaining two meetings.
Dollar Losing Safe-Haven Status
Gundlach made a bold claim about the U.S. dollar. He said it no longer works as a safe haven.
He explained that in all 12 S&P 500 corrections since 2000, the dollar rose 8%-10%. But during the March-April 2025 correction, the dollar fell 8%-10% instead. He blamed this on growing debt concerns and long-term fiscal problems.
Gundlach has held his weak-dollar view for about two years. He believes the dollar will stay “secularly weak” even if the broader economy slows down.
Inflation Still Running Hot
Gundlach also flagged that inflation remains well above the Fed’s 2% target. The five-year average sits at 3.9%, and the GDP deflator is running above 3%.
He broke it down simply: 3% inflation over 15 years means prices rise 56%. At 2%, that number is only 35%.
For crypto holders watching macro trends, Gundlach’s stance is worth noting. If more capital keeps flowing into gold over risk assets like Bitcoin, the “digital gold” narrative faces a real test in 2026.
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FAQs
Major risks include global recessions, tighter crypto regulations, declining liquidity, or a sustained breakdown below key support levels.
Bitcoin price forecasts for 2030 range from $380K to $900K, driven by scarcity, long-term adoption, and expanding institutional participation.
While uncertain, many long-term projections suggest Bitcoin could exceed $1 million by 2050 if it becomes a global store of value.
Bitcoin’s fixed supply makes it attractive as an inflation hedge, especially during currency debasement and long-term economic uncertainty.
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