Gold's market cap is $8 trillion.
90+% of that value is as a store of value and speculation.
Cryptocurrencies could do that job better. Even with the high fees atm for bitcoin, it's still a hell of a lot cheaper than shipping gold
90+% of that value is as a store of value and speculation.
Cryptocurrencies could do that job better. Even with the high fees atm for bitcoin, it's still a hell of a lot cheaper than shipping gold
Also, Gold fluctuates a lot less and the exchange of Gold is often not anonymous. If I am looking for a place to put my savings why would I choose an anonymous market that is highly volatile?
I understand that this logic is negated by Bitcoin's current value.
In a more probable scenario, strong regulation kills the crypto.
I believe either scenario is far from plausible, but the case for gold makes sense for people that do.
I have a pretty good idea that gold will still be valuable 100 years from now in every country in the world. (Maybe not the same value as today, but still valuable.)
Bitcoin? I have much less confidence.