Bitcoin Outperformed Gold and Silver — and the Numbers Are Impossible to Ignore
Bitcoin outperformed gold and silver so dramatically over the last decade that it has reignited one of finance’s most emotional debates: what truly holds value over time?
According to author and analyst Adam Livingston, Bitcoin has delivered a staggering 27,701% return since 2015, dwarfing silver’s 405% gain and gold’s 283% rise over the same period. Even when critics argue about timeframes, Livingston says the conclusion remains unchanged.
“Even ignoring the first six years of Bitcoin’s existence — for those who complain about comparisons — gold and silver still massively underperform the apex asset,” Livingston wrote on X.
Bitcoin vs Gold and Silver: Critics Push Back, Defenders Double Down
Peter Schiff Says Bitcoin’s Moment Is Over
Unsurprisingly, the data sparked pushback from longtime Bitcoin skeptic and gold advocate Peter Schiff, who argued that the comparison should focus only on the past four years.
“Times have changed,” Schiff said. “Bitcoin’s time has passed.”
But Bitcoin supporters quickly fired back, arguing that Schiff’s preferred timeframe conveniently ignores Bitcoin’s defining advantage: a fixed supply in a world of expanding money.
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Why Bitcoin Outperformed Gold and Silver Structurally
Scarcity vs Production Economics
Matt Golliher, co-founder of Bitcoin-focused wealth firm Orange Horizon Wealth, offered a deeper explanation for why Bitcoin outperformed gold and silver over the long term.
Commodity prices, he said, naturally drift toward production costs.
“When prices rise, production increases,” Golliher explained. “That expands supply and eventually pushes prices back down — unless the asset has a fixed supply.”
Gold and silver, unlike Bitcoin, can always be mined more aggressively when prices rise. Golliher noted that higher prices have already made previously unprofitable mining operations economically viable again, increasing supply pressure.
Bitcoin, by contrast, is mathematically capped at 21 million coins — a feature no precious metal can replicate.
Precious Metals Surge, Bitcoin Stalls — But the Debate Intensifies
Ironically, this debate is flaring up just as gold and silver are enjoying historic rallies.
- Gold surged to a new all-time high near $4,533 per ounce in 2025
- Silver also hit record levels, approaching $80 per ounce
At the same time, Bitcoin’s price action has slowed, adding fuel to claims that precious metals are reclaiming their dominance as safe-haven assets.
Yet supporters argue that short-term price pauses don’t erase long-term performance — especially when macroeconomic forces are turning increasingly hostile to fiat currencies.
The US Dollar’s Worst Year in a Decade Changes Everything
Dollar Weakness Favors Scarce Assets
The backdrop to this renewed clash is a rapidly weakening US dollar. Media host Ethan Ralph noted that the US Dollar Index (DXY) is down nearly 10% in 2025, marking its worst annual performance in a decade.
The DXY tracks the dollar against major currencies including the euro, Japanese yen, British pound, and Swiss franc — and its decline signals eroding confidence in fiat purchasing power.
Fed Policy Could Supercharge Bitcoin, Gold, and Silver
Analyst Arthur Hayes believes the dollar’s slide, combined with easing monetary policy from the US Federal Reserve, creates a powerful tailwind for scarce assets.
According to Hayes, inflationary policy and currency debasement historically benefit assets with limited supply, including Bitcoin, gold, and silver.
But when history is measured in decades rather than months, the data still points to one clear winner.
Bitcoin vs Gold and Silver: A Debate Far From Over
The clash between Bitcoiners and precious metals advocates isn’t just about returns — it’s about philosophy. Gold and silver represent centuries of trust. Bitcoin represents digital scarcity built for a world drowning in debt and fiat expansion.
Still, one fact remains undeniable: Bitcoin outperformed gold and silver by orders of magnitude since 2015.
As currencies weaken and investors search for lasting stores of value, this battle isn’t fading — it’s entering its most intense chapter yet.
