Bitcoin’s Value Decline When Measured Against Gold
- Peter Schiff claims Bitcoin has lost over 66% of its value against gold since November 2021.
- In November 2021, one Bitcoin could buy approximately 34.5 ounces of gold, but now it buys only about 12 ounces.
- A $10,000 investment in Bitcoin at its peak in November 2021 would be worth around $9,100 today, whereas the same amount invested in gold would have grown to over $27,000.
- Gold has increased from trading near $1,770 in late-2021 to over $5,000 now—a gain of roughly 185%.
- Bitcoin peaked at $69,000 during the same bull run and now sits around $63,000 after reaching a high of $126,200 in October.
The comparison highlights the challenges faced by Bitcoin as a “safe haven” asset compared to gold’s consistent performance during economic uncertainty. Bitcoin’s behavior more closely resembles a high-risk tech stock than a stable store of value like gold.
Despite its volatility and recent underperformance against gold, some argue that Bitcoin’s cyclical nature may lead to future recoveries similar to past trends. (Source)
