After reading a lot of posts made by people on this forum, I realized about 75% of them see Bitcoin as a digital Gold. For me, I don't think Bitcoin is a digital gold. Cryptocurrency or Bitcoin to be precise, was developed to be a safer option for transaction of goods and services and also the best mode of payment. Bitcoin was introduced to disable all the restrictions that banks and the financial system presented. A lot of people have lost huge sums of money because they saw bitcoin as a digital gold. I know others will argue that bitcoin has also made people rich but for me, I don't think it is advisable to consider Bitcoin as a digital gold. Bitcoin is a digital currency.
Bitcoin absolutely is a digital currency, but calling it digital gold won't be wrong on certain grounds. Because gold is an asset and bitcoin is also our virtual asset. It is a source of lucrative investment. But of course there is more stability in price of gold as and when compared to bitcoin. There are fluctuations but not to that extent as in the cryptocurrency market. Anyways this digital market is now much more trending and has left behind any other source of investment.
In today's date people are using Bitcoin as an asset.People buy Bitcoin at lower prices and then hold it for future rise in price so that they can earn good amount of profits.Earlier gold was considered as an assest and people used to hold it.But since the value of gold is stable so the profit returns are also nil or very less.On the other hand Bitcoin's value is very volatile and the profit margin varies a lot.Bitcoin is also the money making machine and we should definitely take advantage of it.