With inflation rising at an unprecedented rate and another year of no less uncertainty than the last, the debate of Gold vs. Bitcoin continues to be a central point in many conversations.
We are all for new innovation and believe in the power of autonomy.
There are many reasons why we choose gold over Bitcoin. However, the main reason comes down to track record and proven performance in times of economic turmoil.
While bitcoin has been around for over a decade, it wasn’t until the last few years that it started to gain mainstream attention.
The most significant question asked is: What is it?
The digital currency is overly compared to gold because it operates without central control or oversight of banks or governments. Like other cryptocurrencies, Bitcoin was designed with a finite supply.
It’s easy to draw its similarities to gold but take it from Wall Street legend and American billionaire Leon Cooperman who believes the market structure is broken and with the lack of stabilizing forces, the market is all run by machines.
“…I’d be very careful in Bitcoin. I don’t think it makes a great deal of sense. And if you’re nervous about the world, gold, to me, would be a better place to store value than Bitcoin.”
The world is currently running in a nervous state as we all have no idea what is next for the US economy let alone our daily lives.
The pandemic may never go away and everyone is desperate to understand when it will.
Through all of the turbulent times, Americans know when to buck up, work hard, and stand tall in their freedom and liberty to define their own destiny.
Events from the Great Depression to the dot-com bubble burst of 2000 to the mortgage crisis of 2008, one thing is for sure: gold has had thousands of years of proven track record unlike Bitcoin, which has yet to prove itself.
Gold mining firm executive chairman, Jake Klein, told CNBC he believes the wild swings in cryptocurrencies will eventually drive Bitcoin backers to return to gold.
The truth is that cryptocurrencies still have a long way to go before it demonstrates the kind of longevity and security that gold has proven over the last 70 days, added Klein.
Critics believe that the two have absolutely nothing in common. Gold holds tangible value while Bitcoin is seen largely as a massive speculative asset that some are calling a “giant pump and dump.”
Is gold the only real asset to believe in? Of course not.
However, it is one of the rarest ones with the longest and most proven track record.
In times of uncertainty, we believe in a true store of value that offers protection. We don’t believe in following the crowd to seek what seems to be a volatile and popular fad.
Call American Hartford Gold today at 800-462-0071 to learn why thousands of Americans are turning to tangible assets like gold to preserve their wealth.