Gold has always been hailed as one of the safest and most sought-after assets for investments since time immemorial. But, in the light of recent turn of events, gold seems to losing out on its premier status to a budding name in the scene, namely Bitcoin. Some market experts have even gone as far as dubbing Bitcoin as “digital gold”. The claims started gaining stronger grounds when Bitcoin seemed to exceed gold’s price in multiple exchanges. In fact, some experts have even claimed that Bitcoin is “better” than gold.
So, how come an emerging asset is being able to shake the centuries-old dominance of a prestigious asset. Please hier lessen for further read.
- Clear data about supply
Bitcoin apparently seems to be more reliable than gold. The whole of crypto industry knows how much Bitcoin is still available and how much have been mined. It gives its users a clear transparent picture about its supply which helps them to take an informed decision for further steps. But, you never know about the range of supply and that makes the asset more unstable.
- Easy storage
Bitcoin is far easier to store than gold assets. Bitcoin is a digital currency and all you will need here is a good USB drive to store billions of worth BTC coins. But gold storage isn’t that easy. Gold bars are immensely valuable physical objects which need elaborate arrangement for storage. It’s a fast world today and people don’t really have the time to make separate arrangement for storage. Thus, a lion’s share of modern investors these days mostly prefer Bitcoin and that eventually increases its value in the market.
- Easy to divide and send
BTC can be divided into the multiple fractions of penny. It also facilitates instant cross-border transactions. But you don’t have that ease with gold assets. It’s a herculean task to cut the gold bar and then send it to relatives staying abroad.
- More freedom
With gold, you have multiple governments controlling use as well as acquisition, transportation of gold and also gold possession. But, Bitcoin is free from such regulations as it operates in a completely unregulated ambience. Here you don’t have a specific centralized identity to control the funds. Thus, as a Bitcoin user, you always get more freedom to control and utilize the funds in your own way.