Volatility must be compared at a risk adjusted basis. After adjust the risk to same 5% per year level using lower leverage, the bitcoin outperforms every single investment in the world
I think you can't do that without losing touch with reality. While you can safely throw away the probability of the gold price going to zero, but how are going to adjust the risk of the Bitcoin price hitting zero to 5% per year? I guess you could do that
mathematically (thus obtaining astronomical annual profits), but would it make any sense
economically?