Different opinions about bitcoin, gold and long-term investments

Bitcoin has been beating gold by a big margin so far last year. The digital currency has more than doubled in value, but does this make bitcoin a better long term investment than gold?. Being neutral it’s hard to say, as it has been relatively a short time in the market, however we will leave you to answer that question while we outline some interesting opinions about it:

According to a Silicon Valley-based entrepreneur, digital currency is considered more and more an important asset, but the investors need to get into it soon to mine the opportunity, as it is a long-term investment.

Different opinions about bitcoin, gold and long-term investments

In an interviw in InvestorDaily from San Fransico, Michael Dunworth Australian-born enterpreneur, Wyre CEO and a former staffer at Midwinter Financial Services, said that investors and advisers are starting to wake up to the bitcoin opportunity, specially after its strong market performance.

 In the same way added that Bank of America, hedge funds and high-net-worth individuals are all getting into digital currencies as part of their diversified portfolio in a inevitable way, as it has been one of the best performing assets for the past five years, with no serious competitor at all.

Mr Dunworth also predicts that the currency will take more and more the role of a “store of value”, with more resembles to certain goods than to a traditional currency. His own words: “It will replace gold, and it will internationally replace the US dollar as the global reserve currency – all this within 20 years, of course. Bitcoin has a value superior to gold in usability and as a store of value. However, it has received nowhere near the same penetration.”

The entrepreneur, whose crypto-currency wallet business raised US$1.5 million in a seed round led by prominent venture capitalist Tim Draper in 2014, drew an analogy between investing in digital currency and distributed ledger technology in the current climate and investing in internet companies in the early ‘90s. These were his words: “Imagine this – if you could go back to 1991 and were able to buy any shares on the Internet, would you?. No doubt you would, because now you know that it is the most shocking thing the world has ever seen. Knowing that Blockchain and Bitcoin are the ‘Internet money’, having bitcoins are like having the opportunity to buy a share in this. ”

But simultaneously admits that the volatility in the Bitcoin markets distances some investors, adding that it is not a “short-term investment” and that Bitcoin buyers should consider an investment period of at least 5 years as minimum.

One of the biggest misconceptions surrounding Bitcoin is how investing in the popular digital currency will result in overnight riches. Similar to any other type of investment, Bitcoin is a long-term plan. The day of major gains and losses in a short period of time seem to be over, and investors need to keep in mind that Bitcoin is here to stay.

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