I remember back in uni when a friend tried convincing me to invest in gold. Like I must have mentioned countless times here, I wasn’t big on investment, so I turned him down. Although, I do not regret that decision half as much as I regret not investing in Ethereum in 2017.
Gold was the 'IT' thing back in the day; it was incredibly profitable and a great investment idea. As a matter of fact, banks and several different organizations have invested in gold.
I do know that gold has been around for countless decades and has also proven to be a reliable asset. This is why some people would rather argue that it is a better form of investment than volatile cryptocurrencies.
Again, gold has been in existence long before bitcoin ever came to the limelight in 2009.
It is unarguable that gold has run its course, but the last two years have seen a steady but slight depletion in the value of gold, while other currencies have done better (until 2022).
Now, the question of which is a better investment option still remains. Please read on as we dissect the dissectible.
If you ever have to pick between the two, here are a few things to consider:
Value:
In my opinion, people will continue to preserve what is important and relevant to them.
You want to consider what both assets have been used for; what is their usefulness? Are they widely accepted and adopted?
Gold has been used for centuries for countless reasons, from electronics to jewelry, etc. Bitcoin has also gained worldwide acceptance in various countries and sectors; like banking and financial transactions.
Security
One of the first things you want to consider is the security of your assets. Bitcoin is a digital currency that operates on a decentralized system; it is fairly complicated and not exactly the easiest system to manipulate.
Long-term Profitability:
Which of the two would give you the highest ROI? What are the tendencies for the market to bounce back if it suffers a bad blow?
Availability
As of now, we’ve been told that the total number of BTC is 21 million, but we do not know if there will be more. However, gold is still very much in circulation, and there’s still no way to know how much gold we have left.
At the end of the day, investment decisions should be taken only after consulting professionals and conducting your own research. If I had to choose, I'd go with Bitcoin over gold because I have so much faith in the resurgence of cryptocurrencies.