The slumping prices of cryptocurrencies, especially Bitcoin, have created a panic situation among investors. From $65,000 in mid-April 2021 to $47,500 (at the time of writing), it has decelerated like never before.
Also, Bitcoin technology is relatively new. So there exist some challenges and issues to be corrected.
Competitors of Bitcoin, like Ethereum, DOGE, etc., are following the suite.
So the question arises, which is the better investment option apart from Bitcoin?
Well, there lies a huge list of commodities that can give you massive profits.
But when it comes to a better Bitcoin alternative, nothing beats GOLD.
Talking about Gold, it has its own set of records and historical importance. Ancient traders and commoners used to exchange services through gold and silver coins.
Though many new currencies came into existence, yet the essence of GOLD remains the same.
The 21st century is filled with new inventions and discoveries. Now, things have come a long and interesting way.
So how exactly does Gold have the upper hand over the cryptocurrency market, and why is it the only investment better than Bitcoin? Let’s ponder upon reasonable facts.
Gold: A Better Investment
Well, there’s no doubt that yellow metal is highly regarded in several parts of the world. In India, its possession signifies wealth and prosperity. However, there are reasons why physical Gold outwits Bitcoins.
Gold has always been a store of value for investors since time immemorial.
But they encompass genuine and valid reasons why Gold could be the only perfect alternative to digital currency.
The traded volume of Gold as of Jan 2021 was $109 billion to $231 billion per day, while the traded volume of bitcoin was $8 billion. Besides, the market cap of Gold was $7 trillion, whereas the market cap of Bitcoin was $154 billion.
Gold is a mode of exchange and has traditional importance. It is used as a currency norm in various parts of the world.
The Power of Gold
- Since it’s immune to corrosion and passed the test of time, it gives a base for people to trade services against the yellow metal.
- Since it’s tough to pass on fake Gold or corrode the metal, Gold becomes one of the most valuable and robust assets.
- Predictions conclude that Bitcoin could be out of circulation by the year 2140. Speculations are that Gold can be mined from asteroids as there are proven traces of Gold in there.
- Apart from robust properties, Gold incorporates vast applications. From ornaments embedded with Gold to luxury items and other assets. However, Bitcoin is a virtual currency and can’t be touched or worn.
- In times of recession, the crypto market or any other market becomes uncertain. Gold emerges as the only asset that doesn’t get affected by the recession. Rather the prices accelerate in those times.
Indeed the Gold Investment is someway better than Bitcoin and can be used in alternate cases. Since the market is volatile and there are chances of crashing, Gold is more reliable and safe for people to invest and avoid losses.
For long-term investment, there’s nothing better than Gold. Since these assets can be passed on to the next generations, these incorporate a historical value and ethics.
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