Can cryptocurrencies emerge as the 'new gold'? Exploring their future as safe-haven assets
For ages, gold has been recognised as an everlasting source of value, offering stability and security, notably amid uncertain periods. In contrast, cryptocurrencies, especially Bitcoin, have emerged as one of the most popular digital assets globally. It runs on a decentralised network and is resistant to government intervention. Despite phases of intense volatility and dramatic price declines, Bitcoin's overall trend has been upward throughout its existence. This has further generated curiosity as a possible long-term store of value to hedge against inflation and market instability. Moreover, Bitcoin is also called «digital gold”, grabbing the attention of both investors and organisations due to its decentralised structure, finite quantities and capacity to facilitate seamless transactions globally.
Which is the Better Investing Option- Gold or Cryptocurrency?
Gold is a tangible asset that can be physically handled. It is extremely liquid globally and can be quickly purchased, sold or exchanged. Its extensive history of regulatory frameworks makes it a reliable investment. However, holding gold necessitates physical protection, such as vaults or safes and incurs storage and insurance fees. Although miners extract fresh gold every year, the process is growing increasingly complicated and expensive. On the other hand, investors can hold cryptocurrency, notably Bitcoin, as a digital asset that is coded on the blockchain and stored in a digital wallet. It has strong liquidity and is becoming increasingly popular in
