An Amazon original film, Sylvie’s Love (Image Source: Amazon). Just before Christmas, Amazon delivered a gift for all of its Prime members. Releasing the Sundance Film Festival darling Sylvie’s Love onto their streaming platform, with free access to all that have a subscription. It is a period feast for the eyes and ears. Set […]
The post Sylvie’s Love appeared first on PriceScope.
Bitcoin continues to steal the spotlight. Its price quadrupled last year, and in early 2021, its price hit $40,000 for the first time. Bitcoin is the new kid on the block with regards to portfolio diversification, while gold has a reputation for being a longstanding safe-haven asset. Why are the two so often compared to one another? Learn more in this comparison between gold and Bitcoin.
The Bitcoin concept first emerged in 2009. In other words, as an asset, it essentially hasn’t even reached adulthood. Gold, however, is what you might call an elder statesman. The history of the yellow metal dates back more than 5,000 years.
“One thing that gold has undeniably been associated with throughout history is [market] value. Gold’s centuries of use as money, in international commerce, and later as backing for money plainly attest to this,” CoinWeek notes.
The World Gold Council points out that highly speculative and volatile cryptocurrencies like Bitcoin are not safe-haven assets. By contrast, gold has a track record as a safe haven and can maintain or increase its market appeal amid market turbulence.
In December 2020, analysts at Goldman Sachs said they do not see the rising popularity of Bitcoin “as an existential threat to gold’s status as the currency of last resort,” according to Business Insider.
“Hedging against market downturns, high inflation, and uncertainty is what gold does best. Gold is the ideal hedge during times of economic turmoil,” CoinWeek reports.
Bitcoin is a virtual currency that exists only digitally and can be purchased only online. Therefore, a buyer of Bitcoin can’t actually touch it, unlike coins made of metal. However, gold is a physical asset that you can touch and hold and buy in person, over the phone, or online.
“Bitcoin is still a mystery to many of us, probably because we can’t eat, see, or touch it,” The Washington Post notes.
Supply might be Bitcoin and gold’s only similarity. Bitcoin’s creator, Satoshi Nakamoto, set Bitcoin’s supply cap at 21 million coins. The coins can be divided into smaller parts, but there will never be more than 21 million Bitcoin. Bitcoin can’t be created beyond the 21 million threshold, and existing Bitcoin can’t be destroyed, according to the SoFi lending platform.
Meanwhile, nearly 200,000 metric tons of gold have been mined over time, leaving close to 50,000 metric tons yet to be mined. Like Bitcoin, gold cannot be destroyed (only dissolved) and all of the gold ever extracted from the earth remains in existence. Gold also can’t be created. The process would involve nuclear reactions and be incredibly cost prohibitive.
Jewelry, medical equipment, religious artwork, and many other items contain gold. Yet Bitcoin cannot be used as anything aside from virtual currency, also known as cryptocurrency.
“Gold has a variety of important real-world uses that make it worth the cost of digging out of the ground,” CoinWeek explains.
Like many assets, gold’s prices fluctuate, but not as intensely as Bitcoin’s has shown.
“The ups and downs for gold pale in comparison to the wild volatility that Bitcoin has exhibited over the last decade. Simply put, Bitcoin’s volatility is orders of magnitude higher than gold’s. This complicates Bitcoin’s case as a stable store of wealth and a trusted medium of exchange,” CoinWeek explains.
Ready to buy gold rather than Bitcoin? Increase your portfolio diversification with an asset that has thousands of years of proven history. Download your free Gold Kit and call today to speak with one of our knowledgeable Account Executives.
The post What’s the Difference Between Gold and Bitcoin? appeared first on U.S. Money Reserve.
“The number one thing people say to me is, ‘You know, I’m not a collector.’”— Eric Sepanek, Scottsdale Bullion & Coin Founder
If this is your mindset, you could be overlooking the gold and silver opportunities with the greatest upside potential. Investors with experience know not to overlook the rare coin market.
Why?
Because history, rarity, and demand can allow for substantial returns on these coins beyond the value of their precious metals content. Rare coins are a store of value, and their upside potential can be exponential.
Let’s look at two perfect examples of this…
In the early 2000s, you could have bought an MS-63 1799 Draped Bust Dollar for a little bit north of $20,000. Today, the coin can fetch about $65,000. Growth has been steady and significant for the past couple of decades.
What’s this coin got on its bullion counterparts?
History. The Draped Bust Dollar was minted the year George Washington died. Just think about how young America was. What a vibrant, bustling country it was to behold. These coins are a testament to America’s early glory, illuminating our great history in every sculpted star
Rarity. 423,515 coins. That’s all the U.S. Mint struck in 1799. NGC has graded only 18 coins in Mint State 63. Only 19 higher Mint State coins exist.
Demand. The $45,000 jump in value over the last twenty years SAYS IT ALL: buyers WANT this coin, and they’ll pay a hefty premium to get their hands on it.
What are they? How big is their upside potential?
You’ll have to watch the video above to find out. See their storied history—and the country’s—Now.
Want to know about the world of precious metals investing’s best kept secret? Order your FREE Investment Grade Coin Guide today.
Kitco News
(Kitco News) – The debate between gold and bitcoin, as to which is the ultimate safe-haven and inflation hedge, continued to rage this past week. However, I feel that the longer this debate goes on, the more investors are missing the bigger picture.
The post The inflation threat just got real appeared first on WorldSilverNews.
Kitco News
(Kitco News) – According to the preliminary data released by the U.S. Geological Survey (USGS), estimated global mine production of copper was 20 million tonnes in 2020, or 2% less than in 2019 (20.4 million tons).
The post Global copper production declines 2% in 2020 – report appeared first on WorldSilverNews.
Kitco News
(Kitco News) – Local media sources reported today that Namibia expects strong rebound in the domestic diamond and uranium production after a slump in 2020 caused by the COVID-19 pandemic.
The post Namibia expects uranium and diamond boom after a bleak 2020 appeared first on WorldSilverNews.
Silver COT Report
Fri, 02/12/2021 – 15:31
https://www.reuters.com/article/idUSKBN2AC1LF
SilverSeek
Fri, 02/12/2021 – 11:08
Jeff Clark
Fri, 02/12/2021 – 05:36
Boise, Idaho (February 11, 2021) — The Idaho State House today overwhelmingly approved a bill which enables the State Treasurer to protect state reserve funds from inflation and financial risk by holding physical gold and silver.
SilverSeek
Fri, 02/12/2021 – 01:04