Will Bitcoin (BTC) Ever Catch Up to Gold?
Again yet it’s the same wine in a new bottle though! Ever since the surge of the Bitcoin (BTC) and becoming the most influenced cryptocurrency in the world, debates on ‘BTC Vs. Gold’ have been common.
Moreover, the irony is that even till date a consolidated statement on this regard which is better as an investment still remains speculative. In such terms, which is the better option to invest upon either gold or BTC is still now the most profuse question asked to financial advisors and investing advisors.
In spite of all this, and for the topic and question which still now has no solid ‘Yes or No’ answer, the managing partner of Incrementum AG, Ronald-Peter Stoeferle puts forth his views.
Regarding the Bitcoin (BTC)
Being the partner of a renowned asset management and investment management company, the views of Ronald-Peter Stoeferle are to be looked upon. When put forth the question to Peter, which is better in terms of investments, BTC or gold? Peter replies that both the gold and the BTC are two completely different entities and they should not ever be compared with each other. This is a rather contradicting statement put forth by him.
Moreover, Peter depicts the BTC to be the new kid in the street. He implies that as being new compared to gold, BTC sure has got a lot of attention. BTC may be of high volatility and so be the reason why it’s quite controversial, he adds.
Furthermore, he terms, one can either love BTC or dislike it, but never be in the middle. Also, he states that if BTC remains for the next five to ten or even more, then BTC will be at a place completely unimaginable!
Solidity of Gold
On the other hand, when turning to the yellow metal, Peter terms it to be solid and standard. Moreover, he states that the potential is so high for gold, that in order to attain such status will take plenty of time for BTC.
In spite of this, taking the market cap into account gold stands at $10 trillion which is extremely standard. However, that of BTC is between the range of $800 to $900 billion, which is obviously small compared to gold.
In addition, the CEO of Microstrategy and an avid BTC fan, Michael Saylor states that he did the best for the past year investing on BTC rather than gold. Furthermore, he states that if he had invested upon gold, it would have been a billion dollar mistake for him.
And so, he proved this by tweeting regarding it with statistics comparative to gold as follows.
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
Therefore, Saylor terms that by investing in BTC for over a year, so far the returns are 376.64%, which is obviously astonishing in terms of returns over the investments.
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Text source: TheNewsCrypto – Blockchain & Cryptocurrency News M
