Gold vs Bitcoin: Performance Through the Lens of Money Supply

Gold has been one of the strongest performing assets in 2025, rising 38% year to date, outpacing bitcoin23% advance. It's no secret, though, that bitcoin has done wildly better than gold (and pretty much everything else) over its short lifespan. A check of the two popular inflation-resistant assets against a broad measure of U.S. money supply (known as M2) yields further insight about their performances. Adjusted for M2 growth, gold — despite its recent strong run — remains below its 2011 peak and roughl ...