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Bitcoin has proven to be a better investment than gold.
Gold loses to Bitcoin in the 1-year and 10-year ranges.
While some are debating whether it is possible to compare investments in bitcoin and gold, the math gives a clear answer that is not in favor of the precious metal. Gold yields have gone negative in 10 years, and investment in bitcoin has reached a mind-boggling 571,000%. 
Back in 2017, you could get 1 digital coin for a troy ounce of gold. Since then, the price of gold has fallen 25 times lower than that of bitcoin. Gold has always been seen as a hedge against inflation, so it’s even more surprising to see it drop to a four-year low just four days before the United States releases its inflation report. 
Inflation is at its highest level in ten years. The Federal Reserve begins to limit its bond buying program in the fourth quarter and will not raise interest rates until 2023. Peter Schiff, a key proponent of gold, thinks traders are wrong to sell it. The Fed will not be able to handle inflation in the next few years, and Bitcoin should not be taken as digital gold.
Comparing gold to bitcoin is dubious: many investment moguls, such as JP Morgan’s Jamie Dimon and Goldman Sachs’ David Solomon, criticize the cryptocurrency while creating services for investing and trading it. In early 2021, JPM analysts predicted that Bitcoin would replace gold as a store of value and estimated its long-term price at $146,000. 
Is Bitcoin really becoming an alternative inflation hedge instead of gold? The US CPI comes out today: if demand continues to be higher than market expectations, and bitcoin continues to rise on this news, the trend will receive another confirmation.
#Bitcoin #Gold
