You might have heard a lot about Bitcoin in recent years and many investors are wondering, is it the new gold? The financial market is ever changing but gold has always been the safe bet for investors because the prices never stay low for too long. Let’s take a deeper look at the subject including other ways to invest in gold and we will finally explore the question, is Bitcoin the new gold? The differences
The differences, Although gold and Bitcoin get compared quite regularly, it should be noted that both are very different. Gold is a precious metal whereas Bitcoin is a fairly modern crypto currency that seems to have sprung itself onto the world rather quickly. Bitcoin is completely digital, it doesn’t exist in physical form – despite this, it can be VERY profitable. Gold is obviously something that you can actually get your hands on, whether it be with bars or coins – again, a lot of money can be made if you invest in gold. This is basically the only difference between the two, as they are similar in many ways.
More about Gold vs Bitcoin
People will usually invest in Bitcoin purely to make money but a lot of people like to be able to hold gold in their hands, it’s more of a collectors investment. Forbes has actually said that gold will never lose its profitability, this is obviously awesome for investors of the precious metal to hear. Gold is anonymous and it’s super easy to trade. A kilo of gold, for example, is worth millions of dollars but can fit in your pocket! Bitcoin will never outweigh the value of gold but it is a cool new option for those who prefer to do their trading online without having to actually get their hands dirty so to speak.Will
Will Bitcoin take over?
Bitcoin will never knock gold off the financial market, the prices might waver from time to time but both are set to remain profitable unless something completely crazy occurs. Bitcoin does surpass gold in some ways, however. For one thing, it is not tied to the government financial market. If something did happen to this market, Bitcoin would not be affected or it might even make the currency worth even more. For those who are skeptical about banking or the financial market, on the whole, Bitcoin is an option that could be right for you. To answer the question “Is Bitcoin the new gold?” Time will tell. By analyzing the market at the moment, it shows that investors make money from both of them but who knows what will happen hundreds or thousands of years from now.Conclusion
Bitcoin might have taken the popularity away from gold in some ways for investors especially when it first hit the market but there will ALWAYS be space for gold in the financial market. If you are interested in investing, way up the pros and cons of each of these different options. Consider what YOU want from your investment, don’t let others sway your opinion, check the current prices available and go from there.