The battle of golds: victory of digital gold

[MrSpasybo]

As the price of gold plunged on Friday, CNBC’s Jim Cramer said the rise of crypto may partly explain the sudden disinterest in the precious metal — a potential sign that the mainstream has flipped the script on Bitcoin (BTC) and digital assets.

The flagship cryptocurrency continues to outperform gold and every other major asset thanks in part to an influx of new institutional buyers. Measured in bullion, 1 Bitcoin is now worth more than 20 ounces of gold. A week earlier, the Bitcoin-gold rate was around 15 ounces.

The idea that Bitcoin is taking market share from gold is nothing new. A recent analysis from JPMorgan Chase concluded that Bitcoin’s digital gold narrative is pulling investors away from precious metals. The analysts said this trend could intensify as more institutional money pours into the crypto space.

Article: As gold crashes, Jim Cramer says money is ‘all going to crypto’

What do you think about this, when the explanation is quite plausible: gold & metals are put in safe portfolio in 2021, not one that promises high returns, whereas Bitcoin & Altcoins are considered to have many potentials to bring high profits in the same group as securities stocks.

Could this be called digital gold's first victory over traditional gold? And can this trend continue until the end of 2021?
Of course I don't believe that crypto can instantly replace all gold as the primary reserve asset of governments.

[TomPluz]

The question is: Is there really a war between the real gold and its digital counterpart or version? I don't believe there is, actually. Gold will remain to be an important metal as it has so many uses aside from being a good store of value. Yes, Bitcoin is pulling investors away from gold to Bitcoin, and it is because they are looking for better ways to make money, simple as that. And that means that if the bull run of Bitcoin will start to slow down, they might also go back to gold or to stocks or commodities. Anyway, pitting gold and Bitcoin is a good marketing strategy for cryptocurrency because this is highlighting the focus on cryptocurrency, so I am not complaining (haha I don't even own any iota of gold).

[Ghozrd]

Could this be called digital gold's first victory over traditional gold? And can this trend continue until the end of 2021?
Of course I don't believe that crypto can instantly replace all gold as the primary reserve asset of governments.

Hopefully this trend will continue in 2021, but I am a little worried that Bitcoin price will experience a correction and cause a bearish trend to occur in the middle of this year, because in recent days the gold price chart has also started to rise, although it has nothing to do with bitcoin price. but as long as I watched the gold price chart go up in 2020, the Bitcoin price fell below $10k.
I hope the price of BITCOIN isn't affected by any of the share prices, so let's see Bitcoin price hit $ 50k this year.
GoldPrice:  https://goldprice.org/gold-price-egypt.html

[TomPluz]

Could this be called digital gold's first victory over traditional gold? And can this trend continue until the end of 2021?
Of course I don't believe that crypto can instantly replace all gold as the primary reserve asset of governments.

Hopefully this trend will continue in 2021, but I am a little worried that Bitcoin price will experience a correction and cause a bearish trend to occur in the middle of this year, because in recent days the gold price chart has also started to rise, although it has nothing to do with bitcoin price. but as long as I watched the gold price chart go up in 2020, the Bitcoin price fell below $10k.
I hope the price of BITCOIN isn't affected by any of the share prices, so let's see Bitcoin price hit $ 50k this year.
GoldPrice:  https://goldprice.org/gold-price-egypt.html

You are not alone with this fear of a coming bearish period for Bitcoin. Well, it can be because according to the history of Bitcoin there is always that winter right after the bull run, though we are, of course, hoping that this time around it will never happen but who knows, right? As I am writing this, a big dip is happening in the market let's hope this is just a normal correction and not a big slide to the past erasing many good gains already made.

[Alcor]

Gold has always represented a stable value. It grows slowly, however, and does not fall in value as quickly as cryptocurrency. It's too early for us to summarize the competition between bitcoin and gold. Cryptocurrency is a more risky investment, but it sometimes brings good returns. Bitcoin is still winning the price competition with gold, but Bitcoin has only been around for 12 years.

[nomenclatur]

gold is the favorite digital investment for now really has made many changes for the better in the future, there are many opportunities for profit to be obtained in crypto stablecoins such as gold which makes a lot of profit also by buying it, the possibility for the long term is very good for this future digital gold.

[tervel]

  The cryptocurrency is not yet trusted to be a store of value to the same extent that the general public trusts gold. That said, the mass adoption of Bitcoin is growing. Gold has some industrial use, but it gets its value from others believing it has value. Increasingly with the adoption of BTC, the community is showing its belief in the value of BTC.

[Paglamon]

Notice the history of each cryptocurrency. Cryptocurrency is gaining more and more popularity. As cryptocurrency gains worldwide popularity, the volume of transactions is increasing. Bitcoin is currently one of the currencies. Notice the history of bitcoin transactions. And there is a growing demand for bitcoin. So Bitcoin is the most important in the history of cryptocurrency.

[Evgenklm]

The demand for cryptocurrency is growing more and more every year, we can see the growth ourselves, as bitcoin has risen in price, soon we will forget about the traditional financial system altogether, just as precious metals may not become as investment-attractive as cryptocurrency.

[zilzylian]

I agree with JPMorgan's narrative on precious metals and Bitcoin, the cryptocurrency market capitalization continues to increase, making new investors want a long-term return on the number of investments they have hoped for, I am happy to see Bitcoin becoming a crypto asset of concern to many people because Bitcoin is very rare and there will be no additional Bitcoin because Bitcoin has a limited supply

[Ferki]

Gold is not bad but a little too heavy for me, I prefer my Bitcoin because I can carry it anywhere. Governments don't control it yet, so I can feel a little freer. If I can still handle Bitcoin properly, it will bring me even more benefits than gold. Right now, I'll always prefer Bitcoin.

[Tepona]

I compare Bitcoin to digital gold. Because Bitcoin is constantly growing in popularity. Bitcoin's transactions through virtual are increasing. So I think bitcoin is valuable.

[missbtc]

If I had a choice to buy a few kilograms of gold or bitcoin, then I would choose bitcoin. Gold is heavy metal and it must be stored somewhere reliably and preferably in a bank, since the house can be robbed. And Bitcoin weighs nothing, can be transported across the border, is easily carried in a cold wallet.

[Arkann]

If I had a choice to buy a few kilograms of gold or bitcoin, then I would choose bitcoin. Gold is heavy metal and it must be stored somewhere reliably and preferably in a bank, since the house can be robbed. And Bitcoin weighs nothing, can be transported across the border, is easily carried in a cold wallet.

In fact, you put it very correctly, since bitcoins provide freedom to the user in every sense of the word. Nevertheless, gold provides its owner with the stability and safety of the value of his savings.

[robert20]

I think digital gold is winning. But crypto cant replace gold because it is made out of nothing.It doesnt have any real value. It can go to 0 any time. Also some big institutional investors holding most of the BTC. Which is not good for crypto future.