In these times of turmoil, Gold is reaching new ATHs in price. But Bitcoin doesn't leave behind, as it quickly recovered to its "pre-COVID" prices on the market. It's today where Bitcoin prices are relatively stable. With a limited supply of only 21 million coins, hardened security, and a focus on decentralization, Bitcoin is often viewed by many as the successor of Gold. One of Bitcoin's greatest benefits on top of Gold, is portability. You can virtually carry your Bitcoin with you safely when travelling, without anyone noticing. That's not the case with Gold, as you'd need to carry physical bullion with you. Other than portability, Gold and Bitcoin are very much alike.
Do you think that Bitcoin will be able to replace Gold someday? As we shift into the "intangible" world, people will "ditch" physical stuff in exchange for digital items. Bitcoin can become the new digital Gold which serves as a safe-haven asset (store of value) in times of need. COVID-19 will greatly encourage people to adopt Bitcoin over Gold as their next store of value of choice. Thoughts?
Bitcoin is having many advantages over gold as you told us and is indeed a better option to opt if given a choice between the two. But those old school investors would love gold to park their money and not choose bitcoin because for them it isn't a safe heaven as it isn't regulated and thus their money isn't safe in it. But for the speculators and the newer investors, bitcoin is way better as it is easier to send and receive and carry around without anyone noticing, imagine you would have to carry about a million dollars in gold, it isn't practically possible, but if you want to carry as much bitcoins you can in just your smartphone.Do you think that Bitcoin will be able to replace Gold someday? As we shift into the "intangible" world, people will "ditch" physical stuff in exchange for digital items. Bitcoin can become the new digital Gold which serves as a safe-haven asset (store of value) in times of need. COVID-19 will greatly encourage people to adopt Bitcoin over Gold as their next store of value of choice. Thoughts?