Gold Vs Bitcoin

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They are both assets that have great connection to the United States Dollars and they are most purchased assets. Over the years Gold has always been the asset invested on which yields great profit but in recent times Bitcoin is currently top of the gain gradually overtaking Gold.
Currently the market cap for Gold is $11.465T while Bitcoin market cap is $1.150T. The gap between these two gives Bitcoin a lot of catching up to make.

The CEO of Sprott Inc. Peter Grosskopf alighted in an interview that Bitcoin should serve as an inspiration to investors that it can offer a way out against inflation.

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But, why’s that? Well, BTC recorded unprecedented growth as investors and consumers sought new assets to protect their wealth and purchasing power. Also,
“There is a reason why bitcoin has hit record highs and that is because there is a counter bet going on against fiat currencies. People are starting to question the Federal Reserve and starting to question the inflation picture. They are figuring out that they need to hedge U.S. dollar risk.”

“Bitcoin’s been winning the battle for flows. No question. And that has hurt gold in the short-term, but in the long-term, they’re both going to the same place. When I look at bitcoin, I see investors who have pulled $2 trillion out of fiat currencies, and I love that. This just shows what kind of potential gold has…”

However, here’s what the precious metal needs if it wants to compete with the digital marketplace – “It has to go digital itself.” The Gold market is probably about two years away from having a digital presence with enough critical mass to sustain itself.
“I think a lot of the technology needed to take gold digital has been proven. I expect that gold will eventually go digital, and that is going to create a lot of new users and investors.”

With the current rise of BTC, it can be called the new gold.

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