Competition between Bitcoin and gold is already a common theme within the crypto world. And it is that, while the cryptocurrency tries to consolidate its position as an asset of reserve of value, the comparisons between BTC and the price metal are the order of the day. Being, so far, the virtual currency the clear winner, as commented by the analyst known as Mr. Gordon in the Tweet of the day, by showing that the returns of Bitcoin have been 5 times greater than those of gold:
Bitcoin keeps beating gold
Things weren’t looking good for Bitcoin in early 2020. And the fact is that the dynamics of the crypto market led the price of the cryptocurrency to collapse almost 50%, immediately after the arrival of the Coronavirus in the West. This while gold resisted the blow of the crisis in the financial market, beginning to increase its price shortly after.
However, as is often the case in the crypto market, Bitcoin’s crash was only a temporary decline. Thus, a few months later, Bitcoin had not only recovered its price before the Coronavirus. If not, he had started to overcome it, starting an upward career that has led him to reach his best in recent years, exceeding $ 16,000 per BTC.
Bitcoin returns have been 5 times greater than those of gold.
Thanks to this, Bitcoin’s returns against its main rival in the reserve-of-value asset sector, gold, are up to 5 times higher. Reaching a profit of 124.11% so far this year, an unattainable figure for most of the world’s financial assets. Against the equally high, but more modest 24.52% of gold. As noted by Mr. Gordon on his Twitter account.
“Bitcoin’s performance so far this year is now five times that of Gold.”
Bitcoin – 124.11% Gold – 24.52%
In this way, Mr. Gordon would deal a blow to crypto skeptics who, like Peter Schiff, have consistently denied the equality of Bitcoin against gold in the field of store-of-value assets. Proving how, in the midst of one of the worst crises humanity has ever faced, Bitcoin has protected and multiplied the capital of its investors.
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