There’s no question that many people are excited about Bitcoin and feel that it is the best investment out there. But is it? Keep reading as we discuss the truth about the fight for gold or Bitcoin and which is really the better investment. If you have dental gold, scrap gold, or gold jewelry to sell, contact GNJ Pawn Big at (661) 224-1999 for help.
The Reason People Say Bitcoin is a Great Investment
First and foremost, let us look at what people point to when they argue in favor of Bitcoin. First, it quadrupled in price last year. This year, 2021, it has hit $40,000 for the first time. That might sound like enough to invest, but we recommend that you do not act without reading the rest of this article in which we state the obvious advantages of gold.
Remember That Gold Has Been Around Much Longer
When comparing the pros and cons of gold versus Bitcoin, it is important to remember how young Bitcoin is – it was first on the scene in 2009. Compare that to gold, which has been an extremely popular investment for more than 5,000 years. Throughout history, gold is associated with value. This is why it’s the backing for the money of many countries.
Most Experts Consider Gold to Be a Safe Investment – The Same Cannot Be Said for Bitcoin
Yes, Bitcoin has had some remarkable success over a few years, but it is still a very speculative and volatile investment. It is not a safe investment. On the other hand, gold can maintain or increase its value even when the financial markets of the world are in turbulence.
There is Something to Be Said for Being Able to Touch Gold
Do not discount the value of being able to hold gold in your hand while you cannot do the same with Bitcoin. Bitcoin only exists online, unlike gold coins and other forms of gold that can be physically stored at your home, office, or in your bank. Unless you are extremely tech-savvy, the idea of a virtual currency that has never been touched by anyone might rightfully make you uncomfortable.
There Are More Uses for Gold than Bitcoin
Bitcoin has a single-use: a virtual currency. Gold, on the other hand, has practical uses that help keep its value up. For example, it can be used to make jewelry, medical equipment, artwork, and many other things. These real-world uses help make it a safer overall investment than Bitcoin.
If you are ready to learn more about how gold is a great investment, or you have some gold, you would like to see, stop by GNJ Pawn Big or give us a call at (661) 224-1999 for help.