Is Bitcoin The New Gold? Some Think So – Winklevoss Bitcoin Trust ETF (Pending:COIN)
Since some commentators on Bitcoin particularly, and cryptocurrencies normally, have began labeling them as “digital gold,” it has generated some feedback from monetary establishments and others, with the newest being from Goldman Sachs, which said Bitcoin and different cryptocurrencies aren’t the “new gold.”
A part of the explanation for that assertion comes from the rising concept that cryptocurrencies have restricted provide, which helps their worth, and it has responded to geopolitical points in the identical method gold has.
The query that must be answered is that if evaluating cryptocurrencies to gold is even related, within the sense of whether or not or not it is actually evaluating apples to apples, or it must be thought-about a completely totally different asset class, even when there are some similarities with each other.
Why gold and cryptocurrencies have worth
I’ve heard some that discuss gold in a manner that undermines its…