Today we are living in a world where a unit of the digital cryptocurrency Bitcoin has exceeded the value of an ounce of gold for the first time in human history.
The value of a single Bitcoin, the dominant crypto-currency, has exceeded the price of an ounce of gold. This is specifically due to good trading weeks, this also resulted to surging demand in China, and the possible outcomes and solutions to the scaling debate towards Bitcoin.
Gold has traditionally been used as a safe investment like real estate. As we can see on the graph the value of Bitcoin has been volatile since it was first launched in 2009, and many investors and experts have questioned whether the crypto-currency will last.
The recent rising value of Bitcoin is seducing investors, and crypto-currency defenders hope to see it replace the “gold standard”.
Blockchain Analyst Chris Burniske (@ARKblockchain) said recently: “As more infrastructure is built around Bitcoin, we think that demand will rise relative to its mathematically metered supply, increasing its price support.” He added “In terms of proper portfolio construction, you want to diversify. You want to have different types of assets that don’t necessarily move together,”
To conclude Burniske, said : “There’s always room for collaboration. It’s sensational to pit Bitcoin versus Gold as a fight to the death.”