All these days everybody has been hearing about liquid gold, that’s oil but Winklevoss Says something amazing and different, he says, “Bitcoin is better Gold Than Gold itself!”. Tyler Winklevoss says bitcoin has the potential to make gold go on its knees. Cryptocurrency has been beating Gold in its “own game” and that is also with a better magnitude of 10x performance. This was a tweet by “Tyler Winklevoss” on 21st September.
In 2008, Bitcoin was introduced in the market by a group or a person whose name has never emerged on the papers yet. For 11 years, bitcoin has been playing its vital role in the market and that is one of the main reasons why one needs to understand the usefulness of digital currency. According to various financial experts, bitcoin is the new age of currency, and that everyone should be prepared to welcome the new change in no time.
The fate of bitcoin
It’s not very clear when, but the fate of bitcoin has drastically transformed around the last decade. Bitcoin has been and is setting new records of surpassing its value compared with other valuable products and elements found in the market. Bitcoin has always been in the place of an asset but never a transactional currency. The financial researches have been comparing valuables like gold with the value of bitcoins. Surprisingly, the new research and information data show that gold has been outshined by bitcoin. It is more valuable than gold. Comparing gold with any other transactional currency is a time-tested method of judging the economic value of the item.
While some say, it is best to compare gold and bitcoin with each other, others say it’s not necessary to compare both valuables with each other because they both proved their own value which is not similar to each other. Like warren buffet says, bitcoin has no intrinsic value, the value of an item depends on the necessity of an individual. Necessity is taught the value of everything. Similarly, when it will be necessary the more worthy will surface gradually.
How is Bitcoin a better store?
The recent pandemic has transformed the world into a lot of chaos and many of the countries have realized that technology is helping them survive. Without technology, humans would have survived with a huge loss like any other pandemic eras in history. This situation has made people realize the necessity of cashless transactions where bitcoin is one most promising contenders that has gained momentum. Many investors, businessmen, and industrialists are willingly putting their money in bitcoin rather than in gold. The spike in the bitcoin currency has been noticed in this pandemic, hence, the spike and the crazy deterioration of the position of gold to many investors.
The future value of bitcoins is quite high and that is the pull factor for many investors. The estimated recovery on every investment of Bitcoin when purchased at the launch time (or at the earliest price) was approximately 7,615.27%.