bitcoin better than gold

Debate: Bitcoin is a threat to gold?

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bitcoin better than gold

‘Bitcoin capitalization will surpass gold’, ‘Bitcoin is gold 2.0’… are some of the familiar sayings in the debate between Bitcoin investment and gold over time.

Recently, the never-ending debate between “gold” and “Bitcoin” has heated up the social network again.

Accordingly, anti-Bitcoin commentators criticize the ability of this cryptocurrency:

Bitcoin cannot scale and will come to a dead end as more adoption occurs. This is not a story of price, but of value and technology. Whatever you do, an old car can’t turn into a Tesla. It’s still an old car

In response, Willy Woo, a well-known analyst, said:

Gold also cannot scale. When the industrial age came, money was needed to scale up so the government switched to paper backed by gold. Does the world suddenly decide that another good will have a monetary character? Are not

Previously, Willy Woo also said: “Bitcoin will topple gold faster than most people think. Bitcoin is sucking money out of gold.”

Also joining the debate, Dan Held if comments:

Bitcoin is better than gold in many ways. A simple comparison, Bitcoin is transportable and divisible.

A study published a few days ago could add a new perspective to the Bitcoin vs gold debate.

gold vs btc

Accordingly, the report says: Chart (A) shows the price of gold and Bitcoin going in opposite directions since the peak of $2,000 in gold last summer. Bitcoin’s late 2015 gains coincided with gold hitting a post-financial crisis low ($1045/ounce).

Additionally, (B) Bitcoin’s late 2017 peak (C) coincided with another decline in gold, while BTC’s late 2018 plunge saw gold prices move markedly higher (D ) .

But will investment in gold decrease as BTC appreciates? 2020 shows it happening. However, since this is only a short period of time, it is necessary to continue to monitor trends before drawing conclusions.

gold vs bitcoin

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See more:

  • Cryptocurrency Market Still ‘Sink in Difficulties’
  • Analysis: Bitcoin price ‘one step back to two steps forward’
  • Mexico Bans Cryptocurrencies

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