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I know many Crypto enthusiasts also appreciate the hard money principles of gold and silver. I too took advantage of gold prior to the financial crash that arguably inspired the creation of Bitcoin back in 2008. Back then it was the wisest and most logical choice. However, things have since changed and the most logical option is no longer gold. BTC has shown tremendous price appreciation and has proven to be a great asset for medium to long-term investors. The shift from gold into BTC was something that perhaps many were expecting. However, I had begun to see that another scenario was also becoming a very real possibility.
Gold Losing Its Store Of Value Status
This was a scenario that I proposed back in August of 2020. Many were thinking that because gold had a 5000-year-old track record, that it would simply continue that legacy. This is firstly unrealistic, as everything eventually changes. Take a look at the GOLD/BTC chart below to see how powerfully BTC has actually moved in relation to gold over the past seven years.
There is simply no hope evident in this graph. This was a given, due to Bitcoin's meteoric rise. However, many still hold great confidence in gold against the US dollar as a store of value. This is what I addressed in "Bitcoin Is Not Gold 2.0 - So What Is It?" back in 2020. The idea that gold would also eventually lose its status as a store of value.
This is what I address in my latest post, "Gold Is Failing As A Store Of Value". What does it mean for Bitcoin if Gold is no longer able to store value? I hope you enjoy the read. Thanks for the visit!
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