After the Covid-19 driven global financial crisis, people have shifted their investment choice from equity to gold. This yellow metal, also known as ‘Safe Haven,’ has shown a significant move at the time when the financial markets are drowning, and the value of fiat continues to decrease due to massive debt increase and printing of money. Due to limited stock, gold is considered to be a favorable investment choice in the time of recession. However, a recent report published by the leading cryptocurrency exchange coinbase demonstrated the advantages of Bitcoin over the gold and how people are more inclined and pouring their money in digital assets.
Coinbase has indicated the limited and small stock of gold that could not meet the massive worldwide demand. The stock of gold will soon run out if people completely shift from traditional investment to gold. There are many other limitations with this metal that result in its shortage. One of the prominent issues regarding gold is its transportation from one place to another. Moreover, the reduced refinery adds up the slow output in comparison to the increased demand.
These challenges with this precious metal have given way to shine Bitcoin as it mitigates the issues and drawbacks aligned with the gold. Bitcoin is a digital asset, and hence it does not require physical transportation to meet increased demand. This virtual currency is available globally and accessible by everyone. Unlike gold, bitcoin also has considerably lower fees for the on transactions and its transmission from storage place to another.
The report concludes that ‘Bitcoin has numerous technological advancement and benefits over gold in terms of transportation, deposit or withdraw.’ Bitcoin has already been recommended by many financial analysts as an investment of the future and a great alternative to the traditional financial investments. The coinbase reports echoed with the voices of analysts and experts who see Bitcoin as a better choice of investment over gold.