Bitcoin Vs. Gold Revisited – Bitcoin Investment Trust (OTCMKTS:GBTC)

Back in late 2016, I wrote a piece for Seeking Alpha entitled, Bitcoin Might Be A Better Investment Than Gold. At the time, the price of gold was trading at $1172.80 per ounce, and Bitcoin was at $741.25. In that piece I wrote, “I continue to believe that gold will struggle and Bitcoin will move higher as the world will reject low interest rate central bank policies of recent years and embrace technology.” While I was correct in my call, I never imagined that Bitcoin would trade to over $19,000, or even the $7,646.54 level which is the level it was trading at on August 1. Meanwhile, I am not all that surprised that gold at the $1215.80 level on the first trading day of August 2018 is $43 higher since Seeking Alpha published that piece.

It’s been a wild ride for Bitcoin and its digital currency brethren, while gold has not done all that much. Since last December, the yellow metal has traded from lows of around $1210.70 to highs of $1365.40 per ounce, a range of $154.70. Meanwhile,…