Gold has long been the safe haven investment of choice for those in the know. The precious metal has a reputation for preserving wealth and being a hedge against inflation. But there is a new asset class that is quickly becoming a worthy alternative to gold as a safe haven investment—Bitcoin.
There are several reasons why Bitcoin is better than gold. The cryptocurrency has characteristics that make it superior to the yellow metal in many ways. Further, Bitcoin has stayed above its long-term price trend line, while gold has broken down from its trend. Here are five reasons why Bitcoin is a better investment than gold:
1. Ease of Storage
Bitcoin is a better investment than gold because it has a higher upside, as well as utility. Gold is a good hedge against inflation and global uncertainty, but bitcoin is an even better one. Bitcoin’s price potential is much higher than gold’s, meaning that investing in bitcoin now would mean more returns down the road.
It’s also important to note that people are making money with bitcoin, while gold is just used as a hedge against inflation. There are a lot of people who turned millionaires after they invested in bitcoin early on. If you missed out on getting some bitcoins years ago, don’t worry because you still have time to buy some.
Bitcoin is a better investment than gold for at least five reasons.
1) Bitcoin is more scarce than gold
2) Bitcoin is more portable than gold
3) Bitcoin is more divisible than gold
4) Bitcoin has more utility than gold
5) Bitcoin has a larger market capitalization than gold
Read on to learn why.
Bitcoin, the cryptocurrency, has been making news for its seemingly unstoppable rise in the stock market this year. It has gone up more than 40% in just the past month. Its value has multiplied eight times since the beginning of the year. And yet, it seems few people understand what it is.
Most of us get our information from the media, and media outlets are more concerned with attracting an audience than educating it. In a click-driven economy, that often means telling a story that will generate controversy or outrage. It’s easier to write a sensational headline—”Bitcoin WILL MAKE YOU RICH!!!”—than one that explains how, exactly, bitcoin works. The result is that many people have a hazy understanding of digital currencies at best.
That’s not an abstract problem for investors: without a clear understanding of what bitcoin is or does, it can be hard to make sense of its volatile trading price. If you’re considering buying some bitcoin and want to know if there is some fundamental value behind it—or if you’re wondering whether there might be some other cryptocurrency out there with better long-term potential—here are five reasons why bitcoin makes a better investment than gold:
1) Bitcoin is Faster
2) Bitcoin has Real Utility
Whether gold is the quintessential safe haven or an outdated relic of a bygone era, it’s no secret that the two investments have some overlap. Gold and crypto both maintain strong popularity as stores of value and alternative assets, as well as being favored by those seeking to protect their wealth from inflationary fiat money.
Nevertheless, there are some profound differences that make Bitcoin superior to gold in many ways. Here are just a few of them:
1)Bitcoin is divisible.
2)Bitcoin can be easily sent and received across borders.
3)Bitcoin works perfectly well as a medium of exchange.
4)Bitcoin is portable.
5)Bitcoin can preserve value over time
Bitcoin is often compared to gold, but the cryptocurrency is far better than the precious metal. Here are five reasons why Bitcoin is better than gold:
1. Bitcoin can be used as a medium of exchange/currency
2. Bitcoin cannot be confiscated or seized
3. Bitcoin is better at preserving wealth
4. Bitcoin has a capped supply
5. Bitcoin is decentralized whereas gold is centralized
Gold is the king of precious metals. That’s why it has served as money for thousands of years, and why still today major economies continue to trade in gold. But Bitcoin is now nipping at gold’s heels. Here are five reasons why Bitcoin is better than gold:
1)Bitcoin is scarce and divisible: Gold is scarce, there’s no doubt about that. But Bitcoin is even more scarce. And, unlike gold, its supply doesn’t depend on mining costs. The total number of Bitcoins that can ever be created is fixed at 21 million. This makes Bitcoin a better store of value than gold, because, as the number of people using Bitcoin increases over time, every individual unit becomes more valuable.
2)Bitcoin is portable and durable: Unlike gold, which requires a safe to store properly, a single Bitcoin can easily be stored on a mobile device or hard drive. This makes it far easier to move around and to keep track of than large amounts of physical gold bullion.
3)Bitcoin can be used for payments: One of the main advantages that Bitcoin has over precious metals like gold and silver, is that it’s entirely digital and therefore easily divisible. The smallest unit of a Bitcoin is called a Satoshi and it equals 0.00000001