Bitcoin Vs. Gold: Three Reasons For Which BTC Is The Winner
Gold has been a popular asset for a really long time now, and this for strong reasons.
The precious commodity is really rare and has remarkable features such as high conductivity, the global economy has been looking up to it in times of crisis.
The whole world considered gold to be a “haven for capital”.
Of course, the evolution of technology brings along new opportunities, and the financial world also benefits from them.
The recent birth of crypto and the blockchain has shown the world that these are innovations that are here to stay, and Bitcoin has been seen as a rival for gold, regarding the store of value.
Here are three main reasons for which BTC is seen as a winner, as revealed by the online publication the Daily Hodl.
Gold is a physical asset
This means that when the chips are down, this can be subject to threats such as looting, theft, destruction, and even melting, as pointed out by the online publication the Daily Hodl.
With Bitcoin, this issue doesn’t arise as there are no actual coins or paper cash that can be destroyed.
Bitcoin cannot be faked
Gold is easy to fake just like any other physical asset.
Cryptos prove the superiority once again since they are embedded in one of the safest digital platforms on the planet – blockchain.
This makes it extremely hard to change the transaction details at any level or form.
You cannot fake crypto.
Bitcoin price in on the upswing
A lot of people buy gold as a form of investment, and most people are expecting to see a rise from time to time.
With gold, the biggest surge has been around $200, and such things can happen only when global politics undergoes severe turbulence.
Bitcoin is surrounded by massive price volatility, and everyone remembers the frenzy from back in 2017 when BTC surged to almost $20k.
And, more than that, BTC is also surrounded by a lot of optimistic price-related predictions even if the bears are in the crypto market.
Andreas Townsend Author
I am a technical writer, author and blogger since 2005. An industry watcher that stays on top of the latest features, extremely passionate about finance news and everything related to crypto.