In the battle between the world’s most talked-about cryptocurrency and the most favoured and time tested investment option Bitcoin vs Gold, Bitcoin scored a goal this time as news regarding massive gold repatriations come out.
While many have fondly referred to Bitcoin as the “digital gold” or the “new-age gold,” there are those who think the crypto king still has much to do in terms of proving its worth as a better investment option. Last year, the Dutch Central Bank openly stated that during times of crisis, governments would turn to gold, instead of Bitcoin, as a way to bring their economies back from the dead.
In fact, Jeffrey Sprecher, who is the CEO of Intercontinental Exchange, which owns and manages the popular Bitcoin futures platform Bakkt, said during his recent interview that Bitcoin might be the hottest technology of this decade but it still has a lot of convincing to do before it makes a potential competitor to gold.
Bitcoin vs Gold: Bitcoin’s simplicity scores the winning gold
On 18th January 2020, a Twitter user pointed out that owning and transacting in Bitcoin is much more convenient, safer and economical than the extensive gold repatriation efforts being led by major economies right now. According to the user named NVK (@nvk), the recent years have seen billions of dollars worth of gold being repatriated to their home countries and the scale at which these operations are massive are daunting. Read More...