Will People Drop Gold in favor of Bitcoin as an Investment Alternative to Gold

Globaluncertainty is good for investors of Bitcoin. Trade talks have started between the United States and China.

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Barry Silbert,the CEO and founder of the Digital Currency Group feels that it is interestingto see the price of the Bitcoin accelerate up and to the right, as the tradediscussions have begun to take place. When it comes to demonstrating the ongoing commitment to innovation,best in class investment and trading experience, he stated that Bitcoin was yetanother strategic investment.

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When reinstatingabout the durability of Bitcoin, Silbert stated, “If you look at over the pastfive years—when ‘Brexit,’ happened, Bitcoin went up. When ‘Grexit’ happened,Bitcoin went up.”

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Investors arewell aware of common hedges in investing. When considering those, it is opined that Bitcoin will perform betterthan other kinds of investing hedges.

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Silbert statesthat it need not necessarily mean that money will move into Bitcoin, but it isjust that you do not have the forced pressure of having people sell away theirBitcoin.

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“Ultimately, considering the volatilityexisting in Bitcoin, there are plenty of examples one can find where [theprice] goes down when those macro events happened as well.”

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A recent DropGold campaign has hit the TV in which the commercial shows a man and womanracing around frantically around a financial district and people around themwere weight down by bulky gold.

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“Why did youinvest in gold?” the ad asks. “Are you investing in the past?”

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It is statedthat this campaign is set to run around the year on the broadcast and cablenetworks. There will also be heavyadvertisements on social media sites.

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This brings in abold bet that this campaign will create more investors in favor of Bitcoin,having them drop gold in favor of Bitcoin. Bitcoin is a digital currency that exists as computer code. There are several other cryptocurrencies likeTCAT tokens, ETH, Litecoin and all of them living as computer codes. Bitcoin is considered a superior store ofvalue than all cryptocurrencies; however, will it lead to a situation wherepeople are ready to drop gold for Bitcoin.

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Beliefs thatthose who inherit gold as an inheritance will be seeking other investments arealso growing by the day.

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The overallworth of gold is currently at $8 trillion. The current supply of Bitcoin is at $95 billion. This suggests that the digital currency willhave a long way to go if they should catch up with the yellow metal.

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