Bitcoin vs. Gold: Which is the 'better money'?

Strike's Jack Mallers defended Bitcoin [BTC] in a recent debate with Peter Schiff, one of the top crypto critics. There's been a long-standing argument

Bitcoin [BTC] price has been rallying over the past few days and recently managed to finally breach the $50K price point once again. BTC price has been rising for the last few days and recently managed to surpass the $50k price point once again. This latest rally has also seen BTC outperforming gold once again, a trend that has been observed for the majority of the past bull cycle. The recent rally has also seen BTC outperform gold once again, a trend that has been observed throughout much of the past bull cycle.

However, gold proponent Peter Schiff is still convinced that the precious metal will outperform BTC in the long run. Schiff recently took to Twitter to share his thoughts on BTC and gold once again. Schiff stated that gold investors saw a 140% gain compared to BTC ETFs after the latest market drawdowns. However, gold advocate Peter Schiff still believes that the precious metal will outperform BTC in the long run. Schiff recently took to Twitter to once again share his thoughts on BTC and gold. Schiff said gold investors have made a 140% gain compared to BTC ETFs after the recent market declines.

Highlighting the one-year chart for both assets, Schiff showed how gold managed to rally by 16% from its lows, while BTC saw a 40% decline over the same duration. Highlighting a one-year chart of both assets, Schiff showed that while gold rose 16% from its lows, BTC fell 40% over the same period. He added, “If you took speculative risk in this market, you'd be much better off buying gold than speculating in BTC, which is what most people did.” “If you took certain speculative risks, you would be much better off buying gold rather than investing in BTC like most people do,” he added.

Schiff's statement comes as BTC price saw a massive sell-off from its highs of $69K in early November 2021. BTC price saw lows of $32.9K. After rallying from these lows, BTC price managed to clock in gains of over 20%, while gold price rose by 16%. Rising from these low levels, the BTC price managed to gain over 20%, while the gold price increased by 16%.

At the time of writing, BTC was trading at a price of $51.2K with a market cap of $1 trillion. As of hours, BTC was trading at $51.2 thousand with a market value of $1 trillion. On the other hand, gold was priced at $1842 per ounce, with a total market cap of $17.05 trillion. On the other hand, while gold was traded at $1842 per ounce, its total market value was $17.05 trillion.

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