This is a burning question in the world of online trading and the answers to this question weigh equally on both sides. Some people prefer the precious metal (Gold) while those who are in favor of technology side with Bitcoin. Let’s try to find out which one is a better choice in present circumstances.
The managing partner of Incrementum AG, Peter Stoeferle, has presented his views on this question in a recent interview. He said that the comparison is not just because both are completely different from each other. According to him, Bitcoin has attracted huge attention from traders and media but still, it is a controversial asset with dangerously high volatility. He said that you may love Bitcoin or hate it but you need to accept the fact that the demand for gold has dropped significantly.
He predicted that with the beginning of the next phase of growth, Bitcoin’s price will see new heights. In this decade, prices will hike beyond our imagination. According to him, if we make a comparison of Bitcoin with real estate and the bond market, it has far more catch-up potential as an inflation hedge.
But if we compare the present position of both assets, there is a long road ahead of Bitcoin to match the level of Gold. Presently, the market cap of gold is 10 trillion dollars while Bitcoin’s market cap is still less than 1 trillion dollars. This is a large gap that will take a lot of time to fill but Bitcoin is catching up gradually. The odds of Bitcoin reaching Gold have increased ever since the trend of institutional adoption of Bitcoin has started.
The comparison between Bitcoin and Gold has become common nowadays and often the debate gets heated. In a debate between Bitcoin proponent Greg Foss and Gold lover Peter Schiff on the podcast show ‘What Bitcoin did’ presented their narratives in favor of their likings but the audience has to make the final decision.
The Chief Executive Officer of MicroStrategy openly favored Bitcoin in a recent tweet. He said that if he had chosen Gold over Bitcoin, it would have proven a big mistake. He used an analogy to explain that if the solution is not selected wisely, then problem diagnosis is of no use.
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