On December 29th, according to Cointelegraph, crypto analyst Adam Livingston pointed out that since 2015, Bitcoin has seen a cumulative increase of approximately 27,701%, significantly outperforming silver's approximately 405% and gold's approximately 283% during the same period, calling it a "top asset." Peter Schiff, a long-time gold advocate and Bitcoin critic, countered that only the performance over the past four years should be compared, stating that "the era of Bitcoin is over."
In response, Matt Golliher, co-founder of Bitcoin wealth management company Orange Horizon Wealth, stated that commodity prices tend to converge towards production costs in the long run, and rising prices stimulate increased supply; however, Bitcoin has a fixed supply attribute, which is a different logic.
Precious metal prices surged in 2025, with gold reaching a record high of approximately $4,533 per ounce and silver approaching $80 per ounce; however, Bitcoin's performance was relatively stagnant. Meanwhile, the US Dollar Index (DXY) fell nearly 10% during the year, marking one of its worst years in a decade. Arthur Hayes believes that the Federal Reserve's accommodative policies and a weakening dollar will be a long-term positive for scarce assets, including gold, silver, and Bitcoin.
