Bitcoin and gold vs the money supply
Have Bitcoin and gold appreciated faster than the dollar money supply has grown?
| Series | First | Latest | Min | Max |
|---|---|---|---|---|
| Bitcoin (USD) | 100.0 | 19150.1 | 57.4 | 28332.1 |
| Gold (GLD) | 100.0 | 354.4 | 86.0 | 388.3 |
| M2 money supply | 100.0 | 200.1 | 100.0 | 200.1 |
- Latest chart point (2026-05-01) predates the newest source observation (2026-07-24); one input series may be lagging.
Index BTC-USD and GLD (both monthly avg) and M2SL to 100 at the shared startBitcoin spot price in US dollars (BTC-USD, daily adjusted close, Yahoo Finance), SPDR Gold Shares (GLD, daily adjusted close, Yahoo Finance) and the M2 money supply (M2SL, monthly, FRED), all rebased to 100 at their shared start. Bitcoin and gold are averaged to monthly to match M2. A line above M2 means that asset has outpaced money-supply growth over the window. GLD is an ETF proxy for spot gold, not the metal itself.
- Data through
- May 2026
- Last refreshed
- 24 Jul 2026
- Native frequency
- monthly
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