Bitcoin has surpassed gold and silver in the last 10 years: Analyst

Bitcoin (BTC) has outperformed gold and silver by several orders of magnitude since 2015, accumulating a gain of 27,701%, compared to the gain of 405% of silver and the appreciation of 283% of gold during the same period, according to author and analyst Adam Livingston.

"Even ignoring the first six years of Bitcoin's existence, for the whiners who complain about the comparison of timeframes, gold and silver have drastically underperformed the peak asset," Livingston said in a post on X.

Gold advocate Peter Schiff, one of Bitcoin's most severe critics, intervened, telling Livingston that he should compare these assets over the last four years instead of 10. "Times have changed. Bitcoin's time has passed," Schiff said.

The price performance of Bitcoin compared to gold and silver since 2015. Source: Adam Livingston

Matt Golliher, co-founder of the wealth management firm Bitcoin Orange Horizon Wealth, responded that commodity prices tend to "converge" to long-term production costs.

"When the price goes up, its production increases, inflating the supply more quickly and bringing the price back down. Unless, of course, there is a fixed supply," Golliher said.

"Now there are sources of gold and silver that were not profitable to bring to market a year ago, which are now quite profitable at current prices," he added.

The debate between precious metals advocates and Bitcoiners over which asset is a better long-term store of value continues to grow, as precious metals experience a historic increase in prices while BTC stagnates and the US dollar falls 10% against major fiat currencies.

The price of gold reached a new historic high of around $4,533 per ounce in 2025, and silver, which is not shown, also reached a historic high of nearly $80 per ounce in 2025.