The reasons for the choice of gold as money for thousands of years ago responds to a pragmatic look and on the other hand, proponents of the definition of Bitcoin as gold 2.0 argue that this cryptoactive exceeds these conditions but can Bitcoin really replace gold ?
Gold has played a very important role in the history of mankind and since a crisis began, it has been a favorite product for investors. That is why they have approached him seeking an active refuge, that is, an asset in which to invest and flee from volatility and risks in times of financial crisis.
However, gold is also a highly liquid instrument that provides an important level of stability to a portfolio of assets of a central bank, since normally its price has a low correlation with the prices of other assets, being a good mechanism for a Central bank diversify your risk.
Among the main advantages of gold as an investment instrument for a portfolio, the one that has been shown to maintain its long-term value stands out, making it a good way to preserve personal assets. Remember that when the dollar depreciates in relation to other currencies, gold tends to rise in value.
Gold peaking in six years
We can point out that Asian markets have fallen, bringing the value of gold to a maximum of six years because investors are looking for a safe haven for their assets after US President Donald Trump implied that he was willing to escalation of the commercial war with China.
The price of gold touched the 1,550 dollars per ounce on Monday morning, the highest price for this precious metal since April 2013, and that represents a 20% jump so far this year, in the middle of a decline in titles , bonuses and commodities.
Among other precious metals, silver rose 1.6% to $ 17.67, platinum rose 0.3% to $ 856 an ounce and palladium gained 1.3% to $ 1,478.7.
Experts believe that fears of a global recession also influence the appreciation of gold, as a reservation this is because gold is considered a refuge in times of uncertainty, and the metal continues its rise before the possibility of stronger positions in the commercial war
Bitcoin as a digital refuge asset
Bitcoin is the first 100% digital asset that is finite, immutable, of which we have mathematical certainty about how many will exist and when. But there are some of the most interesting questions yet: that it is open and free. These characteristics make it an asset to which, to access, a person must not ask anyone for permission.
Another issue to keep in mind is that Bitcoin as a digital asset is decoupled from any other type of asset. This makes it easier to diversify the risk in an investment portfolio, allowing profit when the rest of the assets fall.
Like gold, Bitcoin can serve as a refuge for being a non-sovereign asset, and at this time it has a quality that makes it superior to gold and is that it is a digital asset that can be accessed from anywhere in the world.
Finally, and since Bitcoin is the union of technology and finance in its purest expression, it is interesting to invest in a piece of innovation that can be bigger than the Internet. Why? Because Bitcoin is the native money of the Internet and it is what this technology lacks to finish revolutionizing the world.
