Source: Bill It Up Memo | E05
Content Organized by: Peter_Techub News
On October 22, the fifth episode of "Bill It Up Memo" titled "Bitcoin: A Better Gold?" delved into the history and future of gold and Bitcoin in the realm of wealth storage. Host Bill compared the millennia-long consensus on gold with the digital innovation of Bitcoin, revealing how the latter is rapidly reshaping the global wealth narrative. With an annualized return of 167% and a market capitalization surpassing Saudi Aramco, Bitcoin not only challenges the status of traditional assets but also presents an epic wealth creation opportunity for this generation. This episode, from a media perspective, combines data and insights to guide viewers in exploring the ongoing paradigm shift in wealth.
The Essence of Wealth Storage: The Glory and Limitations of Gold
At the beginning of the episode, Bill traced the core logic of wealth storage, pointing out the three main functions of currency—medium of exchange, unit of account, and store of value—have evolved throughout history. From shells and copper coins to fiat currency, gold, with its scarcity and millennia-long consensus, gradually became the "king" of wealth storage. However, the limitations of gold are also significant:
High Storage Costs: Gold requires expensive secure vaults and insurance, and transportation costs increase with quantity. During World War II, the gold reserves of the Paris Bank were plundered by Germany, exposing the vulnerability of physical assets in crises.
Difficulty in Liquidation: In war-torn or high-risk environments, gold transactions often face discounts of 25%-40%, sometimes accompanied by personal safety risks.
Government Intervention Risks: In 1933, the U.S. passed the Gold Reserve Act, forcing citizens to surrender gold at prices below market value (at $20.67 per ounce), which was later revalued to $35, leading to a 41% devaluation of citizens' assets within a year and the confiscation of 2,600 tons of gold, laying the groundwork for the end of the gold standard.
Digital Deficiencies: In the digital economy era, gold cannot be transferred instantly through electronic wallets, limiting its portability and application scenarios.
Bill emphasized that while gold outperforms assets like silver and land in five key characteristics (scarcity, durability, portability, divisibility, and social consensus), its limitations have created space for the rise of digital assets.
The Rise of Bitcoin: Five Advantages of Digital Gold
In 2009, Bitcoin, created by Satoshi Nakamoto, emerged as a decentralized digital currency operating on blockchain technology, bringing a new paradigm of wealth storage. Bill analyzed five advantages of Bitcoin compared to gold:
Absolute Scarcity: The total supply of Bitcoin is fixed at 21 million coins, avoiding the 1.5%-2% annual mining inflation of gold, ensuring long-term value stability.
Perpetual Durability: As a digital asset, Bitcoin has no physical wear and tear, stored on the blockchain, and never deteriorates.
Extreme Portability: $1 million worth of Bitcoin can be transferred globally instantly via a private key, while the equivalent value in gold (12.5 kg) is difficult to carry and cannot be sent through electronic wallets.
High Divisibility: The smallest unit of Bitcoin is one hundred millionth of a coin, far exceeding the divisibility of gold, accommodating diverse transaction needs.
Emerging Social Consensus: Over the past 16 years, Bitcoin has grown from a fringe experiment to a global asset, gaining endorsements from heavyweight figures like Trump, Putin, and BlackRock CEO Larry Fink. Larry Fink referred to it as "the digital form of gold," and BlackRock, managing $12.5 trillion in assets, is set to launch a Bitcoin ETF in 2024, with Elon Musk's repeated support further strengthening its consensus.
Astonishing Market Performance: 167% Annualized Return, Market Cap Exceeds Saudi Aramco
Bill showcased Bitcoin's astonishing performance with data: since 2010, Bitcoin's annualized return rate has reached 167%, 14 times that of the S&P 500 and 24 times that of gold. As of September 13, 2025, its market capitalization of $2.3 trillion surpassed that of Saudi Aramco ($1.5 trillion), ranking it eighth globally. As a "one-person startup" project, Bitcoin has created the most leveraged wealth myth in human history through code, capital, and storytelling. Satoshi Nakamoto's ability to "tell a story" has driven the formation of this global consensus.
Epic Opportunity: Only 0.22% of Global Wealth, Adoption Rate Like the Internet in 2000
Despite a market cap of $2.3 trillion, Bitcoin accounts for only 0.22% of the global $900 trillion wealth, with approximately 100 million holders, representing 2.5% of internet users (5.6 billion), akin to the early stages of internet adoption in 2000. Bill pointed out that if the number of Bitcoin holders increases to 5.6 billion and gains widespread adoption by global institutions and sovereign governments, its price could reach $1 million, equivalent to ten times its current market cap, matching the total market cap of gold. This potential makes Bitcoin the "first upgrade of human wealth storage consensus since gold."
Hedge Against Inflation and Future Outlook
In the context of increasing inflation and geopolitical conflicts, Bitcoin, as a decentralized asset, avoids the risks of government confiscation and price controls. The episode mentioned that Putin supports Bitcoin to counter NATO sanctions, while Trump views it as a tool for innovation and debt relief, highlighting its unique position in the global financial game. Bill predicts that Bitcoin's story is just beginning, and the next decade will be a critical window for its adoption rate and price surge.
Conclusion
"Bill It Up Memo | E05" reveals how Bitcoin, through its scarcity, portability, and emerging consensus, challenges gold's status as a store of value in an accessible manner. From millennia of gold to digital gold, Bitcoin not only reshapes the wealth narrative but also provides investors with a window to participate in a historic opportunity. An annualized return of 167%, a market cap of $2.3 trillion, and only 0.22% of global wealth all indicate its immense potential. In the next episode, the focus will shift to the role of stablecoins in this social experiment, which is worth continued attention.
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