If you had to pick between gold and Bitcoin in 2011, at first the choice would look like a no-brainer. A beautiful physical metal, craved for millennia, or a just-starting thing called “bitcoin”, only existing as an abstraction of computational results?
Gold Led to Losses, Bitcoin Boomed
No wonder Peter Schiff recommended gold as an investment back in 2011. But the results from investing $10,000 in gold and BTC are really something to behold.
This is @PeterSchiff talking about bitcoin in June 2011.
The video shows what would have happened with $10k stored in bitcoin vs gold from then to now. pic.twitter.com/9ZWVGhCHWH
— Crypto₿ull (@CryptoBull) January 9, 2020
Curiously, gold did not even work as a store of value. Investing $10,000 in gold would actually lead to a net loss from 2011 onward. One of the reasons is that gold…
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