• Press Releases
    • Submit a press release
    • Read All
  • Advertise
  • Contact us
Crypto.com Logo Crypto.com Logo
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Play Games
  • BET&WIN
  • Bitcoin Casino Reviews
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Play Games
  • BET&WIN
  • Bitcoin Casino Reviews
Bitcoinist.com
No Result
View All Result
Nexo

‘Uncanny’: Historic Gold & Bitcoin Price Charts Almost Identical

Georgi Georgiev by Georgi Georgiev
4 years ago
in Bitcoin, Emerging Markets, News, News teaser
0
Advertisement

Many have compared Bitcoin to gold with some even referring to the former as “digital gold.” As it turns out, the historical performance of both assets reveals notable similarities.


‘Uncanny’ Resemblance

Bitcoin, being a fairly nascent asset, reveals serious similarities to the yellow metal in its performance. As seen on the chart below, the resemblance is uncanny.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

The chart compares the performance of gold in the last 43 years and that of Bitcoin since its inception. It was originally posted by Tweeter user Nunya Bizniz, who described the charts as having an “uncanny” resemblance.

And while Bitcoin and gold reveal similar performance, some hold that the cryptocurrency has more utility than the precious metal. US Economist Paul Krugman, for instance, recently stated that “Gold is dead… Bitcoin has more utility than gold.”

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
Get 110 USDT Futures Bonus for FREE!

Earlier in August, Bitcoinist reported that Bitcoin has been settling more transaction volume than gold ever since Q2 2017.

A Long-Standing Rivalry

While they are vastly different in their essence, Bitcoin a.k.a. ‘digital gold’  and the world’s most popular precious metal have been commonly pinned against each other.

What is the best crypto casino in July 2022? Read our comprehensive comparison! We made deposits, played and reviewed 80+ crypto casinos to choose the best one.

John Pfeffer – a serial entrepreneur, investor, as well as a partner at Pfeffer Capital, noted that Bitcoin is the very first viable replacement for gold. A similar sentiment was shared by the Winklevoss twins, who said:

Taking bitcoin in isolation… we believe bitcoin disrupts gold. We think it’s a better gold, if you look at the properties of money. And what makes gold gold? Scarcity. Bitcoin is actually fixed in supply so it’s better than scarce… it’s more portable, its fungible, it’s more durable. It sort of equals a better gold across the board.

Republican Ron Paul on Bitcoin; 'People Should Have the Right to Choose'

Back in July former US presidential candidate, Ron Paul said that efforts to replace the dollar with gold and cryptocurrencies are already underway:

There are several major efforts being made to replace the fiat dollar with gold or cryptocurrencies, while other countries are making plans to challenge the dollar as the world’s reserve currency.

What do you think of the similar performance of the precious metal and Bitcoin? Don’t hesitate to let us know in the comments below!


Images courtesy of Twitter/@Pladizow, Shutterstock, Bitcoinist archives

ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
Georgi Georgiev

Georgi Georgiev

Related Posts

UNCTAD, document heading

UNCTAD Wants To Curb Crypto Adoption In Developing Countries. Of Course They Do

21 hours ago
Bitcoin Crypto

Crypto Market Sees $510M Futures Flush As Bitcoin Breaks $24.5k

1 day ago
bitcoin family

“Bitcoin Family” Loses $1 Million In Bear Market, What’s Next For Them?

2 days ago
Zipmex Opens Crypto Withdrawals After Pausing Due To Volatile Markets

Zipmex Opens Crypto Withdrawals After Pausing Due To Volatile Markets

2 days ago
Bitcoin UK Based Football Club Oxford City Embraces Bitcoin As Payment For Match Tickets

Why $10 Trillion AUM BlackRock Launched Spot Bitcoin Private Trust For Clients

2 days ago
Crypto

Crypto Obsessed: Nigeria Tops Google Trends Search For Cryptocurrency Info

2 days ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS
  • NAGA

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

Pages

  • Contact us
  • Editorial Policy
  • Advertise
  • Crypto Prices from Nomics
© 2022 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Play Games
  • BET&WIN
  • Bitcoin Casino Reviews

© 2021 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.