The year 2020 created volatility and uncertainty under the effects of the Covid-19 pandemic which not only shook the global economy but also impacted the lifestyle of people. Because of such terrible economic crises, investors looked out for alternative assets such as bitcoin and gold.
Bitcoin stole the show with its incredible value and hence gained more attention from the investors than gold did. Even though this asset is entirely digital and exists only in the digital cloud, it has record breaking number of investors.
But, do you know that the increased adoption of bitcoin resulted in huge impacts on the environment? The infographic below explains in detail the carbon footprint of gold and bitcoin.
In early May, gold had a market value of $11.67 trillion whereas, bitcoin amounted to a total value of $1.05 trillion. Despite being only 9 percent of gold’s total value, bitcoin performance increased tremendously and challenged gold in the volatile market.
In 2020, the value of gold made a massive return of 25.12 percent over the year, and the per ounce value of gold spiked up at $2067. But, the value of bitcoin reached historic heights with a gigantic 536.7 percent increase within a year from May 2020 to May 2021. With such an extraordinary rate, bitcoin outperformed every single asset out there for the investors.
To know more about it, we urge you to glance through the infographic below.
Infographic by: Visualcapitalist.com