According to a recent article by BTC-ECHO, Bloomberg analyst Eric Balchunas points out that Bitcoin has already clearly outperformed gold in a long-term comparison - and could also catch up with silver in the future. If you take a sober look at the development, this assessment is easy to understand.
A key point is the supply structure. Bitcoin is limited to exactly 21 million units. This upper limit is firmly anchored in the protocol and is non-negotiable. There is no such hard limit for gold and silver. Rising prices lead to higher production in the long term, which weakens the scarcity effect.
A long-term performance comparison shows a clear difference. While gold and silver primarily deliver value preservation, Bitcoin has achieved a significantly higher real increase in value over the years. Despite interim volatility, BTC has clearly outperformed both precious metals in the long-term chart - which is precisely what Balchunas is referring to.
Another advantage is the structure of the market. Bitcoin is global, liquid and tradable around the clock. There are no storage costs, no transportation problems and no physical counterparty risk. Ownership can be held directly, independently of banks or states.
In addition, there is increasing institutional demand, particularly from spot ETFs and professional market participants. This development strengthens the market breadth and ensures a more stable capital base, which shifts Bitcoin further in the direction of an established store of value.
Conclusion:
Gold and silver remain relevant tangible assets, especially for conservative investors. However, Bitcoin goes one step further. The combination of digital scarcity, long-term outperformance and growing institutional acceptance explains why more and more market observers see Bitcoin not just as "digital gold", but as a superior store of value.
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