Whilst a picture can be worth a thousand words, this one is not.
Between 2012 and 2020 many more dollars became available: actually more than 4x as many. So, in equivalent dollars gold is worth a quarter of what it was, US$425, and Bitcoin is worth US$2,225.
This is the difference between a real asset based on scarcity and a real asset that has quantitative tightening (QT) hardwired in. The difference between 2013 and 2020, so far, has been worth 40% per annum.
