Erik Voorhees, one of the leading names in the cryptocurrency world, draws attention with his recent large-scale gold investment. Known as one of the leading supporters of Bitcoin and digital assets for many years, Voorhees has gained an important place in the industry as the founder of ShapeShift. Voorhees, who entered the Bitcoin ecosystem in 2011, is a name that has made a name for itself in the crypto industry with his various initiatives.
Loaded PAXG Purchases and Investment Strategy
According to on-chain data disclosed by blockchain analysis platforms, Voorhees spent a total of 6.81 million USDC, creating nine new wallets and purchasing 1,382 ounces of PAXG (gold-based crypto asset). It is stated that the purchases were made at an average level of 4,926 dollars per ounce. PAXG stands out as a token indexed to physical gold, similar to Tether Gold. Voorhees’ latest move points to a more balanced strategy, shifting her portfolio to traditional safe-haven assets while maintaining her belief in crypto.
New Highs in Gold Prices and Analyst Opinions
Gold prices have recently recovered after a 21% decline and remained above $5,000. Gold, which hit its bottom at $4,402 at the beginning of February, was traded at $5,048 at the time of writing. Analysts state that the ongoing purchases of central banks and the turn to ETFs are effective in this increase.
Technical analyst Rashad Hajiyev shared that he expects gold to approach $5,200 in the short term after testing a critical resistance level. Wells Fargo assessed the current pullback as a healthy correction and increased its gold price target for 2026 to a range of $6,100–6,300. The institution based this prediction on geopolitical risks and central bank demand.
Daniel Oliver suggests that gold may reach $12,595 in the long term and draws attention to the potential risks in government bonds as well as the purchases of central banks.
Strong Performance and Macroeconomic Factors
The superior performance of gold against stocks also stands out. While the gold price has increased by 1,658 percent since 2000, the increase in the S&P 500 index has remained at 460 percent. Even when dividend returns of the S&P 500 index are included, a total return of nearly 700 percent is observed, but gold still appears to play a strong role in portfolio diversification.
Analyst Sunil Reddy points out that the USA has undergone a change in its aim of maximizing the purchasing power of the dollar and is particularly prioritizing re-industrialization and trade balance. It is stated that the change in this policy increased the interest in real assets such as gold and silver.
Voorhees’ PAXG investment highlights the trend of market players to protect themselves against volatility not only with cryptos but also with traditional hedging instruments. The fact that one of Bitcoin’s pioneers has turned to gold as a safe haven is considered a sign that the understanding of risk management in the market has changed.
