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25 January 2021

Bitcoin Price Triples in Value Against Gold Since March Crash - Decrypt

Bitcoin Price Triples in Value Against Gold Since March Crash - Decrypt

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Therefore, we can definitely say that Bitcoin has been a much more successful asset than gold throughout the year in terms of percentage growth,” Anissimov toldDecrypt.

He cited the increase in interest from institutional investors as one of the main factors that caused Bitcoin to fare much better than gold—especially since it has a lot of properties that are similar to the precious metal.

“Institutional investors have realized that Bitcoin has similar properties to gold, such as a limited supply.

The more 'traditional' investors buy, the more established Bitcoin gets, and that's what we are seeing right now,” he said.

With an American economy severely undermined by the Covid-19 health crisis, and roughly 22% of all USD ever issued printed in a single year, assets like gold, and more importantly, Bitcoin, have dramatically increased in value,” Messika toldDecrypt

He added that while both gold and Bitcoin share the same trajectory, “Bitcoin's massive outperformance is largely due to its nascency and comparatively much lower market capitalization.”

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