Bitcoin is more gold than Gold

[Byebye Penis]

Disclaimer: I do not invest in Gold or Bitcoin

It is interesting lately that Gold is underperforming many other commodities. Meanwhile, Bitcoin surged pass the US$20000 resistance and swiftly hit $21000 last night. At this moment, the electrical cost of mining one bitcoin is about US$4000 so people will rather "bitcoin" than bitcoin.

Gold is also supposed to be a safe heaven and store of value especially global central banks have to QE over US$2 trillion in the next 12 months. Now, Bitcoin is supposed to do these wonders and provide better liquidity. Try selling physical gold and you will vomit blood with all the price-spreads and less-transparent middlemen.

Did Bitcoin cannibalize gold's prospective investors in this aspect?

 

[Betsycrant]

I think Bitcoin will never take over. It's a mirage

 

[JakeWade]

The comparison between Bitcoin and Gold is indeed an intriguing topic. Both assets have their unique qualities and appeal to different types of investors.
If you're interested in exploring investment strategies and optimizing your financial portfolio, you might want to look into what is a backdoor roth ira. It's a method that can offer potential tax benefits and help secure your financial future.
Ultimately, the decision between Gold and Bitcoin depends on your investment goals and risk tolerance. It's always good to diversify your investments and stay informed about different opportunities in the market.

 

[Byebye Penis]