You are witnessing a part of history as gold bows down to Bitcoin
Image by Sulayman Sanyang from Pixabay
As Bitcoin emerges from its slumber over the past few months, some believe Bitcoin could become an asset loved more than gold. This week, Bitcoin surpassed $18,000 and has hovered around this price range. A few months ago, Bitcoin was at a low of $3,969.
Rick Rieder Blackrock CIO believes Bitcoin could take over gold as the most desired asset. Many younger people love the versatility of Bitcoin as compared to older people like Warren Buffett who compare Bitcoin to rat poison. You may be seeing a change in investing habits as younger people flock to Bitcoin rather than gold.
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With Bitcoin, you don’t need to store your digital currency in a safe or safety deposit box like you do for gold. You can not see the digital currency but can make transactions over your computer or smartphone. With more people using technology today, this could be the next asset class people will talk about for centuries.
This is the Bitcoin gold rush as compared to the gold rush of the 1800s. The California gold rush was around 1848 to 1855. You can say you lived through the digital gold rush because pretty soon this will be written in the history books of future generations. The transfer of wealth is happening right before your eyes.
Will you be part of this wealth transfer?
Resources:
BlackRock CIO says ‘Bitcoin will take the place of gold to a large extent’
Disclaimer: The writer owns Bitcoin and cryptocurrencies.
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