Not only do we all have been admiring the credibility and value of gold for decades but also invested a lot in this worthy asset to earn profitable returns. To date, there has been nothing that could compete with this ever-green asset and stay in the run to yield more profits than gold. But, the sky-rocketing prices of today’s influential cryptocurrency are breaking records of all the existing assets and have predictions to soon be more valuable than gold.
With bitcoin reaching the peak of trillion-dollar market capitalization and other cryptocurrencies setting their remarkable records, it’s legit to think of cryptocurrency replacing gold in the future. Both of the assets are genuinely credible and have helped a number of people to financially stabilize themselves.
Gold is a yellow shiny metal that is supposed to be kept safely for years whereas cryptocurrency is today’s volatile digital currency that you need to constantly trade in order to earn from them. On one hand, many investors say that gold will no longer be able to help combat the increasing inflation rate as it is authorized by the governments.
While, on the other hand, the whopping profits from cryptocurrency and independent work will be an immense help to bring financial stability to the country. Whatever the case is, this article will help you get a clear idea of if cryptocurrency has the potential to win over gold and be more valuable.
The answer to if cryptocurrency becomes more valuable than any time in the future depends on a few important aspects of both assets. Such as:
- The value of the most profitable crypto-Bitcoin today is around $55,000 whereas gold reaches a market cap of $10 billion. This shows that the trillion-dollar crypto still has much time to beat gold in terms of financial value. However, the price of both the assets can anytime incline or decline depending on the market so we can’t say much.
- There’s no doubt in the fact that gold has always been considered a safe haven for money unless it’s stolen from you. But, you can’t carry it everywhere and invest whenever you want to. Not only is it heavy to carry but also accompanies fear of loss or theft that opens room for cryptocurrency to offer a safe option.
- Recently, the CEO of Tesla Elon Musk along with other famous personalities gave a hint about crypto gradually transforming into the future currency. According to the Bitcoin Optimizer trading platform, they are observed buying the trillion-dollar cryptocurrency as their skyrocketing price is a notable prediction of more progress in the upcoming time. In this scenario, we can expect a cryptocurrency to acquire more value than gold ever had.
- We all have possessed or at least heard about both of these assets. However, a lot of people don’t have an exact idea how gold or cryptocurrency is acquired. To enlighten you, gold is extracted in tons for at least $200 billion at a time. This is basically to meet the high-demands of gold lovers all around the world.
- While most of the cryptocurrency is either made by their founder or mined like bitcoin mining. However, bitcoin mining happens at a comparatively low degree with having a supply of nearly $6.5 billion. Both the assets have huge demands but as described, gold is more and common and widely used treasure. Thus, to beat gold, cryptocurrency has to increase its supply by at least 10x.
Gold is a very ancient form of deposited money that is hard to beat because of the trust and credibility it has achieved throughout the years. However, cryptocurrency is slowly making its name everywhere and winning over many financial assets today. But, comparing cryptocurrency with Gold at present is completely pointless because of the huge differences in both of them.
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