Hey guys, today in this article, we are going to discuss Bitcoin Can Be A Better Investment Than Gold. So keep reading.
Gold is one of the most popular and considered to be the worthiest investment in cryptocurrency of all time, as, over time, its value has been accentuated. However, you don’t expect an immediate return when you invest in gold. You need to hold on to the asset over a considerable period to get a potential return.
Gold is perhaps easily available as is often considered; however, according to the reports of the U.S. Geological Survey, approximately one-fourth of gold remains in the Earth’s crust, and the rest has already been mined. However, even after 3/4th of the total gold in Earth’s crust is already consumed yet, there are more than 50,000 metric tons underground. Now it will be worthwhile for the miners to access this limited stock underground only if due, for any reason, the price of gold skyrockets. So let’s start our topic Bitcoin Can Be A Better Investment Than Gold.
Similarity Between Gold and Bitcoin
Therefore, as per the demand in the market, gold prices can tentatively go quite high. This is somewhat similar to Bitcoins as well since the supply of Bitcoin is finite, limited to 21 million. There are already 18 million of it circulating on the market, out of which a considerable portion is lost forever due to various reasons. Moreover, the supply of Bitcoin is controlled through computer programming and code, which cannot be tampered with. The supply of Bitcoin cannot be managed as per the changing whims of the market. Even if one intends to raise the final limit of 21 million, it will have to be done by intervening in the Bitcoin program, which leads to characteristic changes in the digital coin leading to the creation of an entirely new coin.
- While gold is not easy to use and store like Bitcoin, bitcoin is rapidly gaining acceptance in the global market and is being used as a payment mode instead of fiat currency. But going out for dinner in a restaurant with a gold bar, you cannot slice off or portion out small fragments of gold to make payments.
- Bitcoin has had a fast and quintessentially overwhelming growth within 13 years. According to the collected data of Coin Market Cap, since May 2013, Bitcoin has recorded a tremendous growth of over 24,400%. However, comparing the same time gap, one ounce of the gold price has hiked only by 25%.
- The bitcoin market is an extremely volatile market that is sometimes not predictable at all. However, gold, in comparison,n has had a slow but steady growth over the years. This means investing in Bitcoin might play with your peace of mind.
Advantages of Bitcoin Investment
- Bitcoin has no physical presence. It can be a virtual asset stored seamlessly in a cell phone, laptop, or even online in a hot wallet. You can easily send and receive Bitcoin without any hassle. Since this operates in the peer-to-peer format; transacting Bitcoin is much easier in comparison to fiat currencies.
- All Bitcoins are the same and have the same value; whether it’s with you or anyone else in the world. It is fungible quality makes it universally equal in value; however, even though gold too has the same value, its purity rate can differ from its value.
However, looking into the history, it is true that Bitcoin has a limited history record when it comes to a store of value. Gold has a history that dates to 7000 years or even more. It has been a priced metal ever since. However, Bitcoin is a rather new concept or asset to the world. But it has been a lucrative investment since its launch and has achieved many milestones, and many more are yet in the pipeline.
Wrapping it up !!!
Considering different big brands, Federal Reserve banks, central banks, and governments; its growth and market value seem to have a similarly bright future. Investment in oil is also a profitable deal. With the growing value of oil globally; you can certainly reap benefits by adding oil bonds to your investment portfolio. Therefore, undoubtedly Bitcoin is a superb investment in today’s date.
Crypto acceptance is going to grow in the future; so you should not miss the opportunity to be a part of this evolving ecosystem. I hope you like this article on Bitcoin Can Be A Better Investment Than Gold.