Bitcoin Beats Other Assets, Aims for Gold
Not only has Bitcoin outperformed every other major currency, stock index and commodity on the market to put it within reach of its record all-time high set in 2013, but it is also aiming to break the price per ounce of gold set at $1134. The prices to beat for the digital currency to reach its Nov. 30, 2013, all-time high tag of $1132.29 are in the $900-range, which the market shows it has already stepped into. Platinum and gold prices. Market figures also show that Bitcoin has overtaken the end of day commodity futures price quotes of $893 for platinum on Dec. 23. Now, with the rising....
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2020 is no exception to the rule that putting $1 into Bitcoin nets investors more than traditional assets. Bitcoin (BTC) still beats gold as an investment in 2020 despite the precious metal generating its biggest returns in a decade.In a knock to gold bugs, data shows that despite gold’s run this year, Bitcoin still trumps every macro asset when it comes to investment profits.Bitcoin “quietly eating the financial world”Fresh off its second best quarterly close on record, Bitcoin is up almost 50% in 2020, while gold has managed just half of that — 25.6%.The S&P 500, an index with which....
Bitcoin may never escape its ongoing comparisons to gold. According to Tyler Winklevoss, co-founder of the Gemini crypto exchange, Bitcoin beats gold at its own game. "Bitcoin is better at being gold than gold — and not just incrementally, but by an order of magnitude or 10X better," Winklevoss said in a Sept. 21 tweet. Over the last decade or so, Bitcoin has risen dramatically in price, surpassing numerous landmark price comparisons along the way. For many, it is now seen more as a store of value than a transactional currency, and the public often compares the digital coin against gold;....
Ever since losing around 80% of its value from its all-time high, Bitcoin has been questioned as a store of value and a digital equal to gold. The digital currency still records the best performance for any asset across the last decade, but critics are fast to point out past year’s losses. Related Reading: Crypto […]
The Winklevoss twins say Bitcoin is “better than gold” as they continue to press for regulatory approval of their Exchange Traded Fund COIN. Bitcoin: The Greatest Social Network of All. Following their much publicized legal battle with Zuckerberg the twins were first introduced to Bitcoin in 2012. They were impressed by its possibilities to provide cheap, efficient banking services. Allowing accessibility to these for the ‘unbanked’ also inspired them. Tyler Winklevoss acknowledged: We see bitcoin as potentially the greatest social network of all. But more than this, they saw the potential....
There will always be a degree of rivalry between bitcoin and gold as the "king of safe haven assets". Comparisons between gold and bitcoin continue to be drawn, even though these two assets are not exactly alike. The outlook for both speculative assets is looking quite good for now, even though it is hard to predict what will happen next. Both assets can see significant value gains throughout 2017, even though it remains to be seen if that will be the case. Demand for non-currency assets is expected to soar in 2017. With the year 2016 being quite positive for both gold and....