# A Counter-Intuitive Data Point: Buy Gold in Chaotic Times???

Gold just set a record it hasn't seen in 106 years. Down 10 consecutive days—the last time this happened was February 1920.

From the January high, gold has fallen 27%, dropping from $5,600 to a low of $4,090.

Last week alone, it fell 11%—the worst week since 1983. CNN reports that since the war started, gold has dropped over 14%.

Faced with a real war, the world's oldest safe-haven asset collapsed.

But BTC didn't.

While gold was plummeting 11% in a single week last week, BTC ETFs saw consecutive four-week net inflows, with $95 million flowing in last week. BTC is around $70,500 today—not impressive, but at least decent.

Charlie Morris, Chief Investment Officer at ByteTree, calculated something:

In 2017, 1 BTC first exceeded the price of 1 ounce of gold.
In 2019 it was worth 2.7 ounces. In 2020 during the pandemic crash it was worth 3.4 ounces. After the FTX implosion it was worth 9.1 ounces. In February this year it was worth 12.4 ounces.

Now, 1 BTC is worth 16 ounces of gold. The BTC-to-gold ratio has risen 30% from its low point.

Honestly, I've spent a lot of time thinking about this data.

By now, we also question whether the big coin is really digital gold—people used to treat that as a joke. Gold has 5,000 years of history; BTC is only 16 years old. Behind gold are central bank reserves; behind BTC is a bunch of Web3 enthusiasts and Saylor.

But here's what happened this week:

War has been ongoing for four weeks, the Strait of Hormuz is closed, oil prices have soared to $112, and 20% of global oil supply has been cut off.

This is the textbook perfect safe-haven scenario for gold. Instead, gold set its longest losing streak in a century, while BTC held its ground.