When it comes to Bitcoin and Gold, I think we should choose to focus on similarities rather than differences.
Bitcoin and Gold have a lot in common. Of course, Bitcoin’s recent parabolic rise was much faster than the last big run in gold, but both gold and Bitcoin offer freedom from, and provide opportunities beyond our formal financial system. Both Bitcoin and Gold coins are attractive to those who are concerned with inflation, corrupt banks, the stock market bubble, interest rates, national debt, geopolitical concerns, and more.
After years of trading Futures and Options, I am choosing to focus on physical gold for all the reasons previously mentioned, but that doesn’t mean that Bitcoin isn’t attractive. In fact, I currently own Bitcoin, Litecoin, and IOTA. I am no expert but I understand supply and demand and Bitcoin was an easy call.
So ask yourself, what is your motivation for owning Bitcoin? What are your reasons for owning gold? Why not own both? You can purchase small quantities of gold for about the cost of one Litecoin. Gold investors can get into cryptocurrency for just a few hundred dollars. If Bitcoin corrects (which I expect it to) that doesn’t mean that gold investors should gloat or beat their chests. Cryptocurrency traders are a gold trader’s allies. We value the same things. Likewise, if Bitcoin investors are looking to diversify, gold should be an easy call. All of the things that cryptocurrency offers, gold offers. The moves might not be as fast or dramatic as we have seen in Bitcoin as of late, but the privacy, protection, and profits are there if you know what you’re doing.
– Chris Dickens, Director