The price of silver has outpaced the rise of Bitcoin since its peak in 2017

Silver surged despite

A widely circulated report from Bloomberg Commodities Desk (January 28, 2026) drew attention to a remarkable long-term performance comparison: since Bitcoin's all-time high in December 2017 ( $19,783 ), physical silver has yielded higher percentage returns than Bitcoin when measured in US dollars.

At first glance, Bitcoin's returns seem far superior ( ~3.7 times compared to ~2 times ), but the report highlighted a crucial adjustment that reversed the narrative:

• The return on silver is measured from its peak in 2017 to the current price.

• Bitcoin's return is measured from its peak in 2017 to its current price.

Starting from the peak of the Bitcoin cycle (not the bottom), silver has actually outperformed BTC by percentage over the same period of more than 8 years — a statistic that surprised many in the cryptocurrency community and sparked heated debate on financial and X forums.

What factors influenced the price of silver?

The resurgence of silver is more than just a monetary story. Unlike gold, silver sits at the intersection of its role as a store of value and an industrial commodity, benefiting from:

• The expansion of renewable energy (solar panels).

• The development of electrification and electric vehicles.

• Supply constraints and reduced ore quality.

• Interest in tangible assets has returned amid financial instability.

These favorable structural factors have accumulated steadily, allowing silver to generate returns with lower volatility and longer timeframes.

Assets that store trust

Bitcoin's appeal lies in its potential for asymmetrical growth and censorship resistance. However, these very characteristics also lead to extreme volatility. Sharp price drops—often exceeding 70% —reset accumulated gains when measured from fixed historical peaks.

Conversely, silver price declines tend to be shallower and slower, preserving accumulated gains even when periods of price increases are not particularly strong.

This comparison highlights a key difference. Bitcoin functions as a highly trusted, highly volatile asset, while silver functions as a capital-preserving hedge with industrial utility. In shorter timeframes, Bitcoin prevails. In longer timeframes anchored to cyclical peaks, silver can quietly win.

Assessment and Conclusion

If we consider only Bitcoin's all-time high in 2017, silver would have yielded a higher return by January 2026. This is a classic "disproportionate" comparison, designed to spark debate rather than provide a solid investment argument. Silver's recent strength is real – industrial demand, the shift toward safe-haven assets, and individual investor momentum all support it. Bitcoin's longer and more arduous journey from $20,000 to $92,000 still represents one of the greatest wealth-generating events in financial history when viewed across its entire cycle.

Disclaimer: The information presented in this article is the author's personal opinion in the field of cryptocurrency. This is not financial or investment advice. All investment decisions should be based on careful consideration of your personal portfolio and risk tolerance. The views expressed in this article do not represent the official stance of the platform. We recommend that readers conduct their own research and consult with experts before making any investment decisions.

Compiled and analyzed by HCCVenture

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