$GLD has now erased basically all its year-to-date gains when measured against $BTC.
Gold bugs getting absolutely wrecked on a relative basis. While gold might be up in dollar terms, it's been a total underperformer vs bitcoin this year.
The $GLD/$BTC ratio chart is brutal if you're a precious metals maximalist. Bitcoin's just eating gold's lunch as the preferred inflation hedge and store of value play.
Peter Schiff probably having a rough day watching this. The narrative that gold is the only real safe haven is getting challenged hard by bitcoin's performance.
Gold bugs getting absolutely wrecked on a relative basis. While gold might be up in dollar terms, it's been a total underperformer vs bitcoin this year.
The $GLD/$BTC ratio chart is brutal if you're a precious metals maximalist. Bitcoin's just eating gold's lunch as the preferred inflation hedge and store of value play.
Peter Schiff probably having a rough day watching this. The narrative that gold is the only real safe haven is getting challenged hard by bitcoin's performance.