While investing 1 dollar in Bitcoin we would see a high return, profit on gold remains fairly constant
According to the data, investing 1 dollar in Bitcoin nine years ago would have generated $ 682.37 as of today. Returns would be $ 1,113.54 after an investment in dollars eight years ago. The Buy Actions survey had an overview of the returns from October 6, 2009 to July 27, 2020. The lowest returns would have been recorded in the investment a year ago, with a return of $ 0.98.
For gold, returns remained fairly constant over the same period, averaging $ 1.44. The largest return on gold in a single dollar would have been recorded five years ago, being $ 1.75. A year ago, dollar investment in gold would have generated an additional $ 0.33.
The lowest returns on the precious metal would have been after nine-year investments at $ 1.19, a slight drop from the $ 8 profit for year eight. Overall, Bitcoin’s $ 1 returns are 116,213 times higher than gold.
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From the data, it is clear that Bitcoin has better returns compared to gold, despite a short period of existence. According to the Buy Actions report:
“Despite the fact that the digital asset has a high in terms of return, replacing gold is not a walk in the park. Gold has been around for centuries. Over the years, gold has remained profitable in Bitcoin’s ten-year life, so volatility has been an important issue.
The value of gold is residing in an established history of commercial use due to its anti-corrosion or conductive properties. For Bitcoin, the value lies both in the future value of online transactions conducted by their networks, but also in a sense of belief that the asset’s value will eventually explode “.
Bitcoin’s price has been rising, while gold remains constant. Ten years ago, Bitcoin’s value was $ 0.05200, while gold was $ 1,199. Based on calculations of the buying shares, the highest Bitcoin price recorded a year ago at $ 9,793 represented a percentage difference of 149.15% compared to $ 1,426 for gold.
The lowest price of gold was after the five-year investment mark at $ 1,084, while Bitcoin was at $ 289.3.