Bitcoin Vs Gold: Which Is The Better Long-Term Investment?

Investing long-term can be scary. Not only are there so many different potential investment options, but you never know how each of them could turn out. Stocks can crash. Gold could drop drastically in value. Bitcoin could become completely non-existent. With so many different potential outcomes, how do you know what you should invest in?

For now, let’s narrow it down to two potential choices: Bitcoin, and gold. Each have their pros and their cons. However, if you were looking to invest long-term starting now, which would would be the better choice?

For the longest time, gold was always known to be one of the best long-term investments available. After all, gold was the one universal currency that had withstood the test of time. It has always been here, and will always been here. And as long as it’s here and has value, you will always be able to trade gold for cash. In fact, the act of doing exactly that is what made the paper dollar valuable. Back in the roots of paper money, its value was based on how much gold it could be exchanged for. We used dollars because it was easier to measure out.

However, we know that in the event of an economic collapse, gold will still maintain some sort of value. People know and understand gold, and people will always recognize it as a valid median of exchange. Many thought it would be the only currency that could last forever.

But then the world evolved, and computers came into the picture. And they are certainly not going anywhere either.

Let’s think about Bitcoin for a moment. With Bitcoin, I can store all of my money on my computer, and I can instantly send any amount of money to anyone, anywhere in the world. I can very quickly measure out how much to send to match a specific price. I don’t have to worry about losing it, because Bitcoin is completely digital and is much easier to spend and transport than gold is.

The number of Bitcoins to ever exist is also pre-determined – there will never be more than 21 million of them. This means that once all the Bitcoins have been mined, they will only becoming increasingly scarce – potentially causing the value to rise.

However, the scary thing about cryptocurrency as an investment is that it’s still in its early stages. While Bitcoin has been around the longest and shows signs that could very easily be around a long time from now, you can never know if something better will come out and begin to take its place. While many other coins have already attempted to do this, all of them have failed thus far.

Unfortunately for Bitcoin investors, this may not always be the case. A better alternative to Bitcoin could one day take over, causing the value of Bitcoin to drop drastically.

Is this likely? Probably not. After all, there isn’t really any drawback of Bitcoin that could ruin it. However, it is possible that something would come out that would make Bitcoin less useful than it is now, in the same way that paper money did so for gold.

In the end, both Bitcoin and gold are great investments and are both worth seriously considering. Bitcoin is very likely to continue to rise in value over the long term, and we know that gold will always be around and will always have value. I’ve personally invested in both, and I know that over the long-term I will net a profit. If you invest now, chances are, you will too. You’ll thank me later.

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