Both Bitcoin and gold are considered prominent stores of value and safe haven assets. However, over the past seven years, one experienced a meteoric rise in terms of market cap, user base and value, while the other failed to live up to the expectations of its investors.
I used to be a huge gold bug. I still hold some physical gold because I still believe gold has store of wealth properties. I also inderstand, unfortunately, that the paper derivative of gold (GLD) causes to much manipulation of the true value of gold.
Gold is widely regarded as a safe haven asset, which by definition means an investment that retains or increases its value amidst market turbulence and economic certainty, over time. In the past seven years, gold hasn’t met either of the two descriptions. Gold has failed to sustain its value over a seven-year period and has failed to see an increase in its value. Thus, whether gold can still be considered as a safe haven asset is quite unclear.
Since July of 2010, Bitcoin has significantly outperformed the Japanese yen, Canadian dollar, Euro, Silver, Gold, US Dollar, bonds, global stocks, US real estate and US stocks. Naturally, its decentralized nature, high liquidity and transportability began to appeal to a wide range of investors seeking for alternative assets to protect their wealth with a long-term investment.
I can no longer ignore the manipulation of Gold price manipulation and have chosen to invest more of my time and energy into studying and investing in Bitcoin and Altcoin markets. I believe this choice will better serve myself and my family for generations to come.
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Interesting article. Good to see I'm not the only one that is thinking about this. The crypto space brings the biggest group of uneducated investors with it. This group will only grow. We do need to look better at the insights of every coin. What team is behind it, is there any management. How strong is the product, is there any product at all? I really advice people to take a look at: https://www.coincheckup.com I'm using this site that gives in depth reports on every tradable cryto in the market. For example: https://www.coincheckup.com/coins/Bitcoin#analysis For a complete Bitcoin Indepth analysis.