In 2017, at its peak of nearly $20k, Bitcoin was worth 14.25 ounces of gold. Today it’s worth 16 ounces. That’s a 12% gain in nine years. Was it worth the risk to beat gold by just 1.3% per year? HODLers will find out the hard way as Bitcoin crashes and gold continues to soar.

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Author | Jeff Park (Chief Information Officer, Bitwise)
Compiled by Odaily Odaily(@OdailyChina)
Translator | Dingdang (@XiaMiPP)
Editor's Note: On February 5th, the cryptocurrency market experienced another crash, with over $2.6 billion liquidated in 24 hours. Bitcoin briefly plummeted to $60,000, but the market seems to lack a clear consensus on the causes of this decline. Bitwise CIO Jeff Park offers a new analytical framework from the perspective of options and hedging mechanisms.
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The Black Swan Event Was Actually This: The Real Reason for the Recent Bitcoin Crash

Gold is at ATHs yet you keep talking about $BTC non stop
May I ask why?

From 2027 -
In 2026, at its peak of nearly $5,600, Gold was worth 0.063 per BTC. Today it's worth 0.03 BTC. That was over 100% up opportunity if you swapped Gold to BTC at that moment. HODLers had an easy way to decide to keep their gold at that peak or take their chance to adapt to the future.

He's a Bitcoin holder and hoping we can convince him that it'll be ok. If he actually owned gold he wouldn't even care about Bitcoin