A luxury yacht or a Snickers? Bitcoin Beats Gold in New $1 Comparison


A $1 investment in Bitcoin Storm in 2009 would buy a luxury yacht today, but $1 of gold would only buy a bar of chocolate.

That was the result of a comparison by statistician Willy Woo, who this week revealed his latest tool to track the success of the largest cryptomoney.

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BTC earnings: USD 1 becomes USD 12.8 million
Uploading his findings on Twitter along with his dedicated website, Woobull, Woo highlighted the lackluster returns of gold in the last decade.

Although both gold and Bitcoin gained value in 2020, Bitcoin remains an easy winner of macroeconomic assets to date, and even more so in several years.

„I made a new live chart for gold optimists,“ Woo added.

„One dollar invested in 10.7 years… Today’s value: Bitcoin: USD 12.8 million (a luxury yacht) Gold: USD 1.66 (a snicker bar)“.

Gold, in fact, made enough profits for a sweet in 2011, before falling and only getting closer to its historic highs again in recent months.

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The precious metal, however, retains its enthusiastic supporters, many of whom are bent on demeriting Bitcoin while highlighting the virtues of gold.

As Cointelegraph reported, Peter Schiff is perhaps the most vocal supporter of gold on social networks, while others in the industry have denied that Bitcoin is in any way the digital counterpart to gold.

In a debate late last month, Saifedean Ammous, author of „The Bitcoin Standard,“ confronted Roy Sebag, founder and CEO of Goldmoney.

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Sebag opposed the whole Ammous money theory, even discussing the idea of keeping the fixed supply of Bitcoin at 21 million BTC.

Ammous argued that gold would follow silver in its demonetization over time, and had not taken advantage of the coronavirus fiat merger.

„It was time for the gold to shine, but I think Bitcoin will take care of that shine because it can be sent to Bitcoin across borders,“ he summarized.