President Donald Trump, on Jan. 23, ordered the creation of a cryptocurrency task force tasked exploring the possibility of creating a national cryptocurrency reserve. (Photo Illustration by Artem Priakhin/SOPA Images/LightRocket via Getty Images)

Rounak Jain·Stocktwits

Updated Jul 02, 2025 | 8:31 PM GMT-04

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With U.S. equities feeling the pinch of rising recessionary concerns amid a global trade war triggered by President Donald Trump’s ‘Liberation Day’ tariffs on 185 countries and territories, retail investors on Stocktwits are debating the best asset class for investment in 2025.

The benchmark S&P 500 index has plunged 19% from its peak in February, teetering on the edge of recession. Year-to-date, the S&P 500 is down over 15%.

The sharp downturn primarily began on April 2, when President Trump’s tariffs took effect—the index has tumbled more than 12% since then.

On the other hand, gold, a safe-haven asset, especially during political and economic turmoil, surged to new records in 2025.

The commodity’s shine has improved year-to-date, with gold prices surging nearly 17.5%.

Bitcoin (BTC), which has been called the “digital gold” and sometimes touted as a replacement for the U.S. dollar as the world’s reserve currency, has had a lackluster 2025 so far.

The cryptocurrency has declined nearly 17.3% year-to-date.

However, retail investors on Stocktwits are bullish on Bitcoin’s prospects, especially in light of Trump’s tariffs.

Forty-three percent of the 6,400 respondents to a recent Stocktwits poll think that Bitcoin will emerge as the top-performing asset class in 2025.

Gold took the second place, with 27% of the voters choosing it over other classes.

U.S. equities occupied the third place, with 17% of the voters picking this class, while Treasury bonds are a close fourth, garnering 13% of the votes.

One user thinks that with bonds coming in last, there is a “lot more selling in equities to get through.”

Amid the ongoing volatility, the SPDR S&P 500 ETF Trust (SPY), which mirrors the S&P 500 index, was down 0.2% at the time of writing.

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Also See: Crude Oil Dragged To 4-Year Lows As Trump Tariff War With China Sparks Recession Fears