Oct 03, · Sure, Bitcoin behaves a bit more like an asset than a currency at this point; there’s not much you can buy with it, and most people intend to simply buy and hold it forever. While the prices of both Bitcoin and gold are volatile, the degree of volatility, in terms of the true average range, is higher in the case of Bitcoin. Bitcoin is stored in the Bitcoin wallet and is secured by the private key. Gold is a tangible asset that is stored in safety lockers and bank vaults. Jun 22, · For hundreds of years, gold has dominated the safe-haven asset arena, while bitcoin was launched just over a decade ago and has only achieved widespread recognition in the last few years.
Is bitcoin safer than goldBitcoin Is 10X Better than Gold, Says Tyler Winklevoss | Blockchain News
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Bitcoin is more stable than Gold as an investment vehicle. If you're in it for the long run, you want long term stability of returns for the risk you're undertaking. Day to day price volatility drops to the background for long term investors. Bitcoin's finite supply further reinforces its value as there can be only 21 million BTC that would ever be in existence.
This is different for gold, as the possibility of asteroid mining remains a viable one. Precious metals like gold could be mined from outer space and transported back to earth.
If this happens, it will cause a sharp decline in its value as supply would increase, besides, regular mining already has this effect but to a smaller extent. But why would I want to store gold at all? It doesn't hold value against hard money. This was a large contrast with the exponential growth seen in the cryptocurrency within the same duration.
It would appear that this fear of missing out exhibited by institutional traders is evident as the flow of funds has shown. The firm showed that this massive demand for BTC is created not just by younger retail investors but also by corporate investors such as family offices and asset managers. The direct contrast with the equivalent outflow trajectory for gold ETFs and the inflow into Grayscale Bitcoin Trust makes it more impressive.
Although Bitcoin is still in its early stages, it is already poised to cut from the precious metal's 9 trillion dollar market. The trajectory is indicative of shifting preferences. Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets.