Post
Topic
Board Bitcoin Discussion
Re: Do you still have thoughts of picking Gold over Bitcoin, read this.
by
Fortify
on 17/09/2021, 17:48:06 UTC
It's quite surprising how people still consider gold a more profitable investment than Bitcoin. Guess they're not familiar with the saying, 'the higher the risk, the greater the reward'. Although this doesn't mean you should go taking uncalculated risk as that'll be a deadly move that could cost you all your funds. Bitcoin has shown time without number that it's the better investment vehicle than Gold and it just did it again

Just came across this article and think it'll be best I shared it here for the doubters still hoping for their previous metal to recover while they keep on missing out on the chance to partake in one of life greatest innovation.

Quote from:  One Bitcoin now buys 0.6 kilograms of gold as 10-year returns turn negative
As of Tuesday, fresh data shows that Gold/USD traded 3.7% lower than it did in the same day in 2011.
Source: https://cointelegraph.com/news/one-bitcoin-now-buys-0-6-kilograms-of-gold-as-10-year-returns-turn-negative

Guess there's nothing left to be proven again for bitcoin and it's safe to say it has outperformed Gold in all angles. I would prefer my investment in an asset that could give me higher double digits gains than an asset that can barely gives strong double digits gains and yet been called the safe heaven when it also poses same risk of a lost in value during trying times.

You seem to conveniently skip over the fact that high risk also means there is a greater chance of losing all or a large chunk of your initial investment. Everyone investing in crypto is essentially taking an uncalculated risk because nobody really knows why it has increased in value so much - is it because the mega rich find it way easier to move money across borders? is it because criminals have a level of anonymity outside the banking system? is it because the world is awash with money and people don't want it sat in bank accounts earning 0.5% per year? You can look at pretty much any asset and find a window that makes it look like a bad investment, if you bought bitcoin at $65k you're currently looking at a loss, if you bought gold at the right time in 2016 and sold at peak Covid you could have doubled your money.