A Luxury Yacht or a Snickers? Bitcoin Beats Gold in New $1 Comparison.

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A Luxury Yacht or a Snickers? Bitcoin Beats Gold in New $1 Comparison.

The latest analysis from Willy Woo shines an amusing light on gold’s performance as an investment over the past eleven years.

A $1 investment in Bitcoin (BTC) in 2009 would buy a luxury yacht today —
but $1 of gold would only buy you a chocolate bar.

That was the result of a comparison from statistician Willy Woo, who this week unveiled his latest tool for tracking the largest cryptocurrency’s success.

BTC gains: $1 becomes $12.8 million

Uploading his findings on Twitter along with his dedicated website, Woobull, Woo highlighted gold’s lackluster returns over the past decade.

Despite both gold and Bitcoin gaining in 2020, Bitcoin remains an easy winner out of macro assets both year to date — and all the more so over multiple years.

“I made a new live chart for gold bugs,” Woo added in lighthearted comments.

“$1 invested over 10.7 years… Today’s value: Bitcoin: $12.8m (a luxury yacht) Gold: $1.66 (a snickers bar).”

Gold in fact netted enough gains for a sweet treat in 2011, before falling and only reapproaching its all-time highs in recent months.

Bitcoin vs. gold investment chart

Bitcoin vs. gold investment chart. Source: Woobull

More than a quick million bucks

The precious metal nonetheless retains its keen supporters, many of whom make a point of rubbishing Bitcoin while plugging gold’s virtues.

As Cointelegraph reported, Peter Schiff is perhaps the most vocal gold bug on social media, while others from the industry have denied that Bitcoin is in any way gold’s digital counterpart.

In a debate late last month, Saifedean Ammous, author of “The Bitcoin Standard,” went head-to-head with Roy Sebag, founder and CEO of Goldmoney.

Sebag took issue with Ammous’ entire theory of money, even disputing the idea that Bitcoin’s fixed supply will stay at 21 million BTC.

Ammous argued that gold would follow silver in becoming demonetized over time, and it had failed to take advantage of the coronavirus fiat meltdown.

“It was gold’s time to shine, but I think Bitcoin is going to be taking over that shine because you can send Bitcoin across borders,” he summarized.

 

‘Bitcoin Billionaires’ Movie to Tell Winklevoss Bros’ Crypto Story

The Winklevoss twins are bringing Bitcoin Billionaires to the silver screen along with former Warner Bros. president Greg Silverman.

Stampede Ventures — a production company owned by ex-Warner Bros. president Greg Silverman — has partnered with Cameron and Tyler Winkelvoss to produce a movie featuring the brothers’ story as portrayed in the best-selling book Bitcoin Billionaires.

According to the report published on Deadline, Silverman will be co-producing the movie along with Jon Berg, known for his work with superhero blockbusters such as Wonder Woman and Aquaman.

Bitcoin Billionaires was written by the American author Ben Mezrich in 2019 after the Winklevoss twins became crypto billionaires.

The Winklevoss story

The Winklevoss brothers came into the limelight following Mezrich’s other best-selling book “The Accidental BIllionaire,” which would serve as inspiration for the Oscar-winning film The Social Network.

In the book, Mezrich describes the twins’ legal battle with Mark Zuckerberg and Facebook to claim their rights over the social media giant, which was originally their idea. A court ruling later awarded the brothers a $65 million settlement for their claims.

Bitcoin Billionaires continues the Winklevoss’ journey from winning the lawsuit in June 2011 to investing $11 million in Bitcoin (BTC) in 2013 and becoming the world’s first crypto billionaires.

“This is Rocky II meets Wall Street”

Silverman said that the idea for making the film came to him right after he finished reading the book along with his son, who received an early copy from the twins during his internship at Winklevoss Capital:

“Upon finishing it, it was clear to both of us that Cameron and Tyler’s remarkable redemption story, coupled with Ben’s masterful writing, would lend itself to a one of a kind movie.”

“This is Rocky II meets Wall Street in a world filled with unique and mesmerizing characters,” Silverman added.

 

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