Hello Gang,
Long time investor/holder of Gold coins, new investor of Bitcoin.
I've been thinking about selling some Gold to buy Bitcoin.
I'm listening to the pros/cons of doing this and Bitcoin seems like the better asset to hold in the long run.
So..
Anyone else here convert their Gold to Bitcoin?
Kinda having a hard time parting ways with my coins.
There's something to be said about touching Gold coins.
They're heavier than you think..
They have a nice ringing tone to them when tapped.
Fun to look at.. older ones have a history to tell.
Maybe I'm alone in this feeling.. 14+ years of collecting coins is hard to let go, but ultimately I got into it to have an insurance in case
of economic collapse and security.. also to make a profit.
Seems like Gold may be taken out by Bitcoin in a few short years.
Thoughts?
If you are saying that Bitcoin adoption is increasing fast compared to gold then you are right because In past 1-2 years the gold investment has become low and gold prices have fallen from $56-$57k to $54k Because of the funds moving out of the gold market.The Bitcoin investment on the other side is increasing which In turn is increasing the prices to higher levels with market cap crossing $1 trillion in just period of 12 years.Bitcoin has surpassed gold in respect to prices but in market it's still far behind.
1)Bitcoin Price - $58k
Gold prices - $55k
Bitcoin Price > Gold Prices(They have achieved this mark with respect to price if gold)
2) Bitcoin Market cap - $1 trillion
Gold Market cap - $10 trillion
Gold Market Cap > Bitcoin Market cap
So we can say people are moving towards Bitcoin investments at huge scale and gold is becoming somewhat secondary option for investors who prefer to have some tangible and risk free investment for a longer period of time.But one thing is for sure that Bitcoin will surpass every financial assest in short or long span of time in every aspect so you must hold a btc in your portfolio without any doubt.