PrimeXBT Lead Analyst Kim Chua: Bitcoin Is a Far Better Store of Value Than Gold

[Rockalo]

Ever since Bitcoin experienced one of its largest pullbacks in May this year, critics have once again used this volatility to attack Bitcoin, saying it is not a good store of value because its price can fall 40% in a week. While that argument sounds logical at first, my own deeper analysis delivers a rather alarming result.

To determine if Bitcoin is a good store of value, I compared it with the globally recognised store of value – Gold, to see if Bitcoin measures up.

To see how Gold and Bitcoin have fared over time, I looked up the long-term charts of the both of them. Gold started free trading in 1971 after the USD unpegged from it so I would start tracking Gold from 1971, while Bitcoin was born at the end of 2008. More information: Please click here