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Bitcoin Remains Store of Value Outperforming Gold Despite Dip to 3-Month Low

Bitcoin has reached its lowest price point since mid-March, but it has still maintained its store of value properties and has outperformed gold by a significant margin this year.

Glassnode, an on-chain analytics firm, has compared Bitcoin prices to gold prices and found that the spot price of Bitcoin has increased by 46% year-to-date, equivalent to 13.3 ounces of gold. Since the COVID-19 low in March 2020, Bitcoin has outperformed gold by around 430%.

Despite its current price volatility, Bitcoin is still considered a store of value. Meanwhile, gold prices have only increased by 6.2% since the beginning of the year, and the US dollar has devalued significantly due to high levels of inflation.

Bitcoin Bitcoin $98,364.38
-0.23%
Bitcoin Gold Inflation
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