The Better Safe Haven – Gold or Bitcoin?
“I’m kicking myself for not buying bitcoin. Too bad I don’t have a time machine.”
It’s the typical response I hear when I tell people how much they could have made just since 2017 began, let alone what they could have made when it traded at pennies in 2012.
But let’s just say not many folks would have to work again.
Since January 2017 alone, as gold prices rallied 6% from a low of $1,146, bitcoin prices rallied from $910 to $3,000 – a 230% move in months. So there’s no big surprise that investors from here to China are foaming at the mouth for the crypto-currency.
But as exhilarating as the ride has been, gold may be the safer investment, according to some analysts. For one, they argue that when you invest in bitcoin, you’re investing in Internet connectivity. You don’t own a physical asset. You simply own online coins, which haven’t been widely accepted.
With gold the value is right there in your hands.
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It doesn’t need the Internet or some other medium to survive, long-term. It’s a better way to diversify, too because it helps protect people from economic turbulence, as it has for the last 100 or so years. Crypto-currency doesn’t offer that same benefit. It simply relies on the Internet and technology to be functional.
Many will also argue that the many aren’t flocking to the crypto-currency because it offers stability, but to take full advantage of an exploding asset that’s gaining speed. But, as analysts at BlackRock warn, as quoted by Fortune, "I look at blockchain, I look at the charts, and to me that looks pretty scary, and reminiscent of what we’ve seen before," he said, referring to the characteristics of previous market bubbles, such as the dot-com boom of the late 1990s.
According to analysts at GoldCore:
"Gold has stood the test of time and has withstood thousands of years of technological, political and economical change. Bitcoin, as a technology-based currency is yet to experience any of these things. For all we know, another cryptocurrency may well usurp bitcoin due to more technological advances and the ability to avoid the volatility and government threats that bitcoin currently experiences. We really do not know. The psyche that has people shifting into alternative currency hedges is the same one that is surprising the media and pollsters when it comes to discontent and worry over the political and economic system amongst the electorate.
Soon the mainstream will begin to ask why this is happening and start to take it seriously. When this happens bitcoin will likely no longer be a novelty and gold will again be seen as the prudent safe asset to hold in your portfolio."
In short, the crypto-currency may be a great short-term investment, but gold is the safer way, in our opinion, to diversify with as a long-term safe haven.
We’d love to hear your thoughts on the better choice.
As the Dow continues to grind itself upward, gold is hovering at lows and is potentially poised to make a large move to the upside when the stock market bubble bursts. To learn about all of your gold options, you owe it to yourself to watch this special report.