- A popular crypto enthusiast Willy Woo has recently moved on Twitter comparing the performance of Bitcoin (BTC) vs. gold over 10.7 years.
- According to Willy, if someone has made an investment in BTC of just $1 in 2009, the investment is worth $12.8 million at press time.
- Further retweeting on his post, Willy pinched the gold bug, Peter Schiff.
Willy Took a Sneak Peek over Gold
I made a new live chart for gold bugs.
$1 invested over 10.7 years…
— Willy Woo (@woonomic) June 9, 2020
According to Willy, if someone has made an investment in BTC of just $1 in 2009, the investment is worth $12.8 million at press time. Moreover, if the investment was made on gold, the returns would be barely seen at just $1.66 by 2020.
Further retweeting on his post, Willy pinched the gold bug, Peter Schiff. By dedicating the chart to Schiff for his determined encouragement to the audience of gold bugs.
However, Schiff is an ardent gold lover that once stated that only fools choose bitcoin. Responding to Willy’s flaming tweet, Schiff stated if $12.8 million invested in Bitcoin today, it will be impossible to even buy a Snickers Bar 10.7 years from now.
Investors find Bitcoin as ‘Digital Gold’
Besides this, the institutional investors who are investing in BTC from Grayscale Investments annoyed with the statement of Peter Schiff. They pointed out Schiff by showing a graph in which Grayscale added 9,503 BTC to their Bitcoin Trust.
Another massive week for Grayscale.
Grayscale added 9,503 BTC to their Bitcoin Trust since last week (28,413 BTC since the halving).
Bitcoin miners only produced 6,863 BTC since last week (19,200 BTC since halving).
— Kevin Rooke (@kerooke) June 4, 2020
For decades, gold has flagged as a wise purchase among the investors. While there is no data available on cryptocurrency prior to 2009 as their existence came after 2008. Regardless of this, gold was found as a poor investment last forty years.
If crypto investors are labeling BTC as a ‘digital gold’. This means that BTC has created a benchmark in the investment ecosystem.
Here's an apples for apples comparison of how Bitcoin fared against Gold & Stocks in the COVID19 black swan crash.
Note: it's not the about the absolute gain/loss but the gains/loss adjusted by risk you're exposed to. Manage that with % allocation. pic.twitter.com/L7c4T7Y0ZC
— Willy Woo (@woonomic) June 3, 2020
Recently, Willy notified that Bitcoin (BTC) performance was far better than gold and stocks during the COVID-19 pandemic.