Gold Beats Bitcoin: Schiff Highlights Superior Returns Since Trump’s Win
Bitcoin and its associated stock, Strategy Inc. (MSTR), have lagged behind gold since Donald Trump’s victory in November of 2023, according to economist Peter Schiff, who made this observation on Tuesday. The performance of these assets, particularly when compared to gold, has drawn considerable attention within the financial community. Schiff’s analysis centers on the period ending November 30, 2024, and the subsequent returns experienced by each investment.
Gold’s Outperformance Against ‘Digital Gold’
Schiff’s commentary builds upon his long-standing advocacy for gold as a reliable investment. His repeated criticisms of Bitcoin, often characterized as “digital gold,” aim to highlight what he perceives as an inflated and ultimately unsustainable valuation. The data revealed on November 30, 2024, starkly illustrates this point. Bitcoin was trading at $97,468.81, while Strategy Inc. (MSTR) was valued at $387.47. However, when compared to the returns seen in gold and the VanEck Gold Miners ETF (GDX), the disparity becomes even more pronounced. Spot gold was priced at $2653.54, with a return of $3,372.62, representing a gain of 27%. The VanEck Gold Miners ETF yielded $37.66, progressing to $56.46, marking an impressive increase of 49.92%. These figures demonstrate a significant advantage for gold investments during the specified timeframe.
A Longer-Term Perspective: Bitcoin’s Historic Gains Versus Gold
Schiff’s criticisms frequently involve cherry-picking short timeframes to downplay Bitcoin’s historical success. He challenged Bitcoin-focused X handle, “The ₿itcoin Therapist,” to broaden the analysis and examine returns over a longer period, specifically the last ten years. The results of this extended view are compelling: over the last decade, Bitcoin has experienced a remarkable surge of 42,934%, while gold has only generated a 208% return. When evaluating yearly performance, Bitcoin and MSTR recorded returns of 102% and 174%, respectively, compared to gold’s 41%. These numbers vividly illustrate Bitcoin’s unparalleled growth compared to the traditional gold investment. The difference in returns over a longer period significantly alters the investment narrative.
Bitcoin’s Struggles and Gold’s Resilience
Bitcoin’s performance has been impacted by broader economic trends. Earlier this year, the cryptocurrency struggled despite its positioning as a safe-haven asset. This difficulty was largely attributed to Donald Trump’s implementation of sweeping tariffs, which often steer investors toward risk-on assets – investments perceived as less volatile and more likely to offer returns during times of economic uncertainty. Conversely, gold maintained its established role as an inflation hedge. As stocks and cryptocurrencies experienced corrections, gold continued to rally, consistently demonstrating its value as a store of wealth during turbulent market conditions. Year-to-date, spot gold increased nearly 27%, while Bitcoin’s gains amounted to 20%.
Momentum and Relative Performance
As of the current writing, Strategy Inc. (MSTR) continues to exhibit a high Momentum score, indicating ongoing upward price pressure. This score can be assessed using Benzinga Edge Stock Rankingsto compare MSTR’s performance against the VanEck Gold Miners ETF (GDX). This comparison provides valuable context for investors evaluating the relative strength of these two assets. Benzinga’s insights provide a critical tool for understanding market dynamics.
This article, “Peter Schiff Says Gold Outperformed Bitcoin, Michael Saylor’s Strategy Since Trump’s Win — Here Is The Bigger Picture,” originally appeared on Benzinga.com. © 2025 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
