Bitcoin’s repeated massive drawdowns expose its volatility; gold’s losses remain comparatively minor.

Never, ever forget. Long-term track records on an asset class that implodes every few years are total BS. Anyone stating them needs to be called out as a pumper looking for a greater fool.

Last 10 Years – Largest Drawdowns

Gold: -22%

Bitcoin: -78%, -82%, -55%.#StoreOfValue pic.twitter.com/OKcPL7ZgGU

— Lawrence McDonald (@Convertbond) December 5, 2024