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Bitcoin (BTC) vs Gold: how was 2019?
Bitcoin (BTC) vs Gold: how was 2019?
Bitcoin

Bitcoin (BTC) vs Gold: how was 2019?

By Alfredo de Candia - 31 Dec 2019

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The year is coming to an end and it’s time for some accounting, which is why we can’t do without an article on the performance of some of the most famous assets in 2019, such as bitcoin (BTC) vs gold.

Many people criticise Bitcoin, also known as digital gold, for a number of factors such as its extreme volatility and the fact that it has no real utility in the real world: indeed, bitcoin critics point out how gold can be used for example in the jewellery industry or in the technology industry in smartphones, while BTC struggles to become a payment method.

Has Bitcoin outperformed gold in the last year?

In order to make this comparison, we have to take the reference values of both assets over the past year, taking into consideration the price of gold per ounce. 

Last December 15th, 2018, the price of gold was around $1,269, while a year later it hit $1,480, which is an increase of 16%.

As for bitcoin, on the other hand, the yield in one year was 120%.

When taking as reference the values on the same dates, BTC has seen a considerable increase, seeing that the price went from $3,242 per unit to $7,124.

Even if cryptocurrencies are extremely volatile, bitcoin has always proved to be a winning asset and it is the one that has performed very well.

Moreover, all assets considered, BTC is more advantageous because it is easier to liquidate and manage than gold, not to mention the fact that there are several businesses, both physical and online, that accept this payment method without problems.

It should also be noted that since 2013, BTC has increased by more than 5,000%. In fact, according to a report of a few weeks ago, bitcoin is the asset that has performed best in the last year even compared to the S&P 500 and the US High Yield Bonds.

 

Alfredo de Candia
Alfredo de Candia

Android developer for over 8 years with a dozen of developed apps, Alfredo at age 21 has climbed Mount Fuji following the saying: "He who climbs Mount Fuji once in his life is a wise man, who climbs him twice is a Crazy". Among his app we find a Japanese database, a spam and virus database, the most complete database on Anime and Manga series birthdays and a shitcoin database. Sunday Miner, Alfredo has a passion for crypto and is a fan of EOS.

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