He insists that the majority of those that bought the asset in 2021 have not gained.

Bitcoin Gains Higher Than Those of Gold

With the calendar year ending and bitcoin up more than 60% since last January, one of the crypto asset's chief critics, Peter Schiff, has claimed in a tweet that this gain was only achieved in the first five weeks of 2021. Schiff argues that the majority of people who bought the digital asset in 2021 have not gained.

Indeed, after starting 2021 trading at just above $29,300, the price of bitcoin — as shown by Bitcoin.com data — more than doubled and was trading just above $63,500 by mid-April. This is in contrast to Schiff's gold which started the year trading at around $1,900 per ounce but had dropped to $1,730 at around the same time.

While prices of both assets continued to fluctuate throughout 2021, year-end data shows that the crypto asset had again outperformed gold after it recorded double-digit gains once more. This performance suggests that despite it being a very volatile asset, it still generated positive returns for investors, even after February.