Gold vs bitcoin: 10 years, priced in bitcoin
Gold is up 224% in dollars since 2016. Priced in bitcoin, it fell 97%. Then the last five years flipped the script.
One ounce of gold cost $1,278 on Nov 9, 2016 and $4,144 on Nov 9, 2026: up 224% in dollars. Priced in bitcoin, it went from 1.77 BTC to 0.055 BTC: down 97%. Over 10 years, bitcoin won. Over the last 5, gold won: one bitcoin bought 36.6 ounces in Nov 2021 and 18.0 today.
How many ounces of gold does one bitcoin buy?
Gold and bitcoin on Nov 9 of each year:
| Date | Gold, per ounce | Bitcoin | Gold per bitcoin |
|---|---|---|---|
| Nov 2016 | $1,278 | $723 | 0.57 oz |
| Nov 2017 | $1,285 | $7,144 | 5.56 oz |
| Nov 2018 | $1,210 | $6,386 | 5.28 oz |
| Nov 2019 | $1,456 | $8,758 | 6.02 oz |
| Nov 2020 | $1,862 | $15,332 | 8.23 oz |
| Nov 2021 | $1,831 | $66,972 | 36.6 oz |
| Nov 2022 | $1,706 | $15,881 | 9.31 oz |
| Nov 2023 | $1,958 | $36,693 | 18.7 oz |
| Nov 2024 | $2,684 | $76,716 | 28.6 oz |
| Nov 2025 | $4,106 | $105,979 | 25.8 oz |
| Today | $4,144 | $74,717 | 18.0 oz |
Nov 9 closes, or the next trading day. Today: Nov 9, 2026.
Gold vs bitcoin: 10, 5, 3, and 1 year
Who won depends on where you start the chart. Measured in ounces of gold one bitcoin buys:
| Window | Start | Then | Today | Winner |
|---|---|---|---|---|
| 10 years | Nov 2016 | 0.57 oz | 18.0 oz | Bitcoin |
| 5 years | Nov 2021 | 36.6 oz | 18.0 oz | Gold |
| 3 years | Nov 2023 | 18.7 oz | 18.0 oz | About even |
| 1 year | Nov 2025 | 25.8 oz | 18.0 oz | Gold |
Bitcoin bought the most gold in Dec 2024, close to 40 ounces. Gold also beat bitcoin in calendar years 2018, 2022, and 2025. Anyone selling either one as a straight line is leaving those years out.
The difference is supply
Miners added 3,672 tonnes of gold in 2025, about 1.7% of all the gold above ground, and they will mine more next year. Bitcoin adds about 0.8% a year now. That halves to about 0.4% after the 2028 halving, keeps halving every four years, and stops at 21 million. Gold’s supply responds to price: a higher price pays for more mining. Bitcoin’s doesn’t.
Questions
Which is better, gold or bitcoin?
It depends on the window. Over 10 years, bitcoin went from buying 0.57 ounces of gold to 18 ounces. Over the last 5 years, gold won: one bitcoin bought 36.6 ounces in Nov 2021 and 18 ounces on Nov 9, 2026.
What does the gold vs bitcoin 5 year chart show?
Since Nov 9, 2021, gold has doubled against bitcoin. One bitcoin bought 36.6 ounces then, peaked near 40 ounces in Dec 2024, and buys 18.0 ounces today.
How many ounces of gold is one bitcoin worth?
About 18 ounces on Nov 9, 2026, with gold at $4,144 and bitcoin at $74,717.
How do gold and bitcoin compare by market cap?
Gold is still about 20 times bigger. The World Gold Council puts above-ground gold at about 224,200 tonnes, worth roughly $30 trillion at $4,144 an ounce. About 20.1 million bitcoin at $74,717 is roughly $1.5 trillion.
How fast does the supply of each grow?
Miners added 3,672 tonnes of gold in 2025, about 1.7% of the above-ground stock, and keep adding every year. Bitcoin adds about 0.8% a year now, about 0.4% after the 2028 halving, and stops at 21 million.
Sources: gold and bitcoin prices from PricedInBitcoin21; gold supply from the World Gold Council, 2025 mine production of 3,672 tonnes, preliminary, and above-ground stock of about 224,200 tonnes at end of Q3 2026; bitcoin supply from the protocol issuance schedule. Not investment advice.