Bitcoin Has Outperformed Gold For Some Years, But There’s a Catch

We already know how Bitcoin has performed this year, reaching incredible highs and lows, but did we stop for a bit to compare it with the price of the shiny yellow metal? A parody account on Twitter owned by Peter Schiff (@relevantpeter) joked around how Bitcoin outperformed the gold price in the last 19 minutes – although it’s been happening for far more time than just a few minutes.

The tweet is clearly a joke, but what if we actually looked back in time and see how Bitcoin and gold performed over the years. We can be sure of one thing – the charts do not lie!

Bitcoin vs. Gold Comparison – 2019

Before comparing the two, we must take a second and agree with some of the comments from Shiff’s tweet, which argue that gold is a mature product, but Bitcoin has the potential to reach the status and function of gold.

Looking at the graphs from TradingView, we see that at the beginning of the year, Bitcoin was $3797.94, then reaching a high of $13,831 near the end of June. The current price of Bitcoin is around $8,000.

Meanwhile, gold was $1282.84 at the beginning of 2019, reaching its high of $1557 at the beginning of September, settling at near $1500.

The rates at which each increase show us BTC started growing in April, and kept outperforming gold until recently. BTC got to a high of 260% before it decreased to the current price, which is around 109% higher than the one in the beginning of 2019.

Meanwhile, gold has kept rising without experiencing major fluctuation, so through this year, it increased 10-20%.

Looking back to when Bitcoin started to be tracked in 2010, we saw a massive increase, considering the BTC price began with $0.06 in July 2010.

Meanwhile, gold has seen a gradual uptrend – in 2010, it was $1210, and by the next year, it increased to $1920. Until 2016, it kept decreasing to a low of $1200, but started to rise again.

Bitcoin Has Outperformed Gold For Some Years, But There’s a Catch

We already know how Bitcoin has performed this year, reaching incredible highs and lows, but did we stop for a bit to compare it with the price of the shiny yellow metal? A parody account on Twitter owned by Peter Schiff (@relevantpeter) joked around how Bitcoin outperformed the gold price in the last 19 minutes – although it’s been happening for far more time than just a few minutes.

https://twitter.com/RelevantPeter/status/1177296623426265089

The tweet is clearly a joke, but what if we actually looked back in time and see how Bitcoin and gold performed over the years. We can be sure of one thing – the charts do not lie!

Bitcoin vs. Gold Comparison – 2019

Before comparing the two, we must take a second and agree with some of the comments from Shiff’s tweet, which argue that gold is a mature product, but Bitcoin has the potential to reach the status and function of gold.

Looking at the graphs from TradingView, we see that at the beginning of the year, Bitcoin was $3797.94, then reaching a high of $13,831 near the end of June. The current price of Bitcoin is around $8,000.

Meanwhile, gold was $1282.84 at the beginning of 2019, reaching its high of $1557 at the beginning of September, settling at near $1500.

The rates at which each increase show us BTC started growing in April, and kept outperforming gold until recently. BTC got to a high of 260% before it decreased to the current price, which is around 109% higher than the one in the beginning of 2019.

Meanwhile, gold has kept rising without experiencing major fluctuation, so through this year, it increased 10-20%.

Looking back to when Bitcoin started to be tracked in 2010, we saw a massive increase, considering the BTC price began with $0.06 in July 2010.

Meanwhile, gold has seen a gradual uptrend – in 2010, it was $1210, and by the next year, it increased to $1920. Until 2016, it kept decreasing to a low of $1200, but started to rise again.

Looking at the rate of increase, Bitcoin went up by 9390661%, while gold only increased by 25%.

So, as a conclusion, we know which one is the winner here. Although extremely volatile, Bitcoin’s rate of increase is significantly higher than that of the gold. It only remains up to investors to choose either one or both of them.

Looking at the rate of increase, Bitcoin went up by 9390661%, while gold only increased by 25%.

So, as a conclusion, we know which one is the winner here. Although extremely volatile, Bitcoin’s rate of increase is significantly higher than that of the gold. It only remains up to investors to choose either one or both of them.


Trending news

Top Exchanges
Top Casinos
Icon
7bitcasino

4.20

Website

Icon
BitStarz

5

Website

Icon
FortuneJack

4.55

Website

Top Sportsbook
Icon
1xBit

4.03

Website

Icon
Nitrogen Sports

4.73

Website

Icon
SportBet.io

4.60

Website

Eduard Watson Author

An experienced finance writer for more than 10 years, active industry watcher, and gadget enthusiast.

2291 Articles

Top Exchanges
Top Casinos
Icon
7bitcasino

4.20

Website

Icon
BitStarz

4.93

Website

Icon
FortuneJack

4.90

Website

Top Sportsbook
Icon
1xBit

4.03

Website

Icon
Nitrogen Sports

4.73

Website

Icon
SportBet.io

4.60

Website

Trending news