Getting to 10% of gold's market cap would mean that each bitcoin costs $154,000, says CryptoQuant.
Nowadays, investors have divided into two groups: cryptocurrency vs gold. After comparing all the characteristics of digital money with precious metal, they appear to have a lot of in common. For example, they are produced through mining and both are almost impossible to destroy. Gold doesn’t react with acid or lye, and can’t be oxidized. In the same way, cryptocurrencies are immutable in that it is nearly impossible to shut down all the computers within the blockchain. Also, both of them can be profitable but still be at risk of cost fluctuations. In most transactions, they should be sold or exchanged for fiat currencies or an equivalent, but it is much easier to do with digital money. However, unlike gold, cryptocurrencies are not accepted in all countries.
For those who still can’t decide in which to invest, a group of Russian entrepreneurs has launched the GoldMint platform, which operates with a digital asset GOLD that is backed with reserves of real gold or ETH.
His firm added exposure to Bitcoin before the winter surge.7832
Gold's prospects seem to dim as Bitcoin's glitter50095
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The host of CNBC’s Mad Money responds to gold’s surprising underperformance this week.32382
As Bitcoin price topped $40,000, it became more valuable than a 20-ounce block of gold.8163
Ethereum’s recent gains saw it join Bitcoin on an exclusive list among the world’s biggest movers and shakers.52021
The publication explores whether Bitcoin will become the new gold standard.10672
Strategists at the American megabank believe the cryptocurrency has a chance to hit $146,000 in future years if it can evolve into a compelling alternative to gold.16759
BTC has hit another milestone, this time against gold bullion, the world’s oldest reserve asset.59807
A Christmas full of cheer for hodlers tops out above $28,000, amid warnings that Bitcoin is already in regulators' crosshairs for 2021.51594
Dennis Gartman is still not convinced that Bitcoin won't go to zero.25970
Institutions need to keep buying to avoid a price drop, JPMorgan analysts say, but the outlook is rosy and will come at the expense of gold.24997
Global investors cut gold exposure in favor of Bitcoin, but does the digital coin have any chance to cannibalize gold?6115
A research firm’s head recently claimed Bitcoin’s capped supply could be changed.12666