- Renowned personalities show interest in investing in cryptocurrencies like Bitcoin.
- Bitcoin continues to rise in value, as well, reaching $51k today.
- Which is a better investment—gold or Bitcoin?
The pandemic taught all of us a lot of lessons in different aspects of life. However, two of the most important ones are savings and investments. Some people have realized the value of being stable financially, which allows you to stay afloat in times of unforeseen circumstances.
We all witnessed how people, especially businessmen, took advantage of this period in a positive way. People valued digital transformation more and saw its benefits to the world. Particularly in investments, gold still holds significant value today. However, a new alternative shone brightly during the pandemic—cryptocurrencies.
Famous personalities and businessmen showed interest in cryptocurrencies like Bitcoin, which made them move from gold to the latter. For example, Michael Saylor, the Found and CEO of $MSTR (MicroStrategy), said in his tweet,
If I had chosen #Gold instead of #Bitcoin last year, it would have been a multi-billion dollar mistake. It doesn’t help to diagnose the problem if you don’t choose the right solution. pic.twitter.com/UrYksm7X6w
— Michael Saylor⚡️ (@michael_saylor) September 5, 2021
In addition to Saylor are other celebrities like Mike Tyson, Snoop Dog, Elon Musk, Kanye West, and several others. Today, Bitcoin continues to grow in value as it climbs to $51,000 at the time of writing.
On the other hand, billionaires like Ray Dalio says
If you put a gun to my head, and you said, ‘I can only have one, I would choose gold.
He added in CNBC Make it,
I own a very small amount of bitcoin. I’m not a big owner. There are certain assets that you want to own to diversify the portfolio, and bitcoin is something like [a] digital gold.
On the other hand, like gold, Bitcoin also has a limited supply. Over time, people realized this and began pricing cryptocurrencies in real-time. Reports say that its value is more likely to rise as people begin to appreciate it more.
Is Bitcoin better than Gold, then?
Of course, this is a subjective question. Only the investor can decide which one is better for his investments.
Furthermore, Bitcoin and other cryptocurrencies created a buzz over the years. Reports say that this made investors jump in, as well. As of late, Bitcoin “has gained acceptance as a store-of-value investment like gold” because “it tends to work as a hedge against currency devaluation and volatility” say crypto market watchers.
Nonetheless, investors and traders in the market have all the right to invest with anything they deem worthy. It’s always just a matter of trust and patience.