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Main » 2017 » January » 6 » Bitcoin and gold are fighting for the best asset of refuge
17:03
Bitcoin and gold are fighting for the best asset of refuge

 

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While economic and geopolitical risks are rising, Bitcoin continues to win the title of best-haven asset. This week, the cost of the crypto-currency reached a record high.

 


 

"When in the existing monetary system problems, investors are turning to the Bitcoin, as once to the gold in the good old days," - he said in an interview with CNBC Bobby Lee, co-founder and CEO of the stock exchange and the large pool mayningovogo BTCC.

 

This is interesting: How can I keep Bitcoin ! 

"Gold is an asset, it was very popular in the old days. It's something physical, material. This metal has a pleasing eye shine "- he said, but added:" You can not buy and sell gold at night, out of the house, for example. As for Bitcoin, it is quite possible. Crypto-currency trades are available 24/7. " 

Over the past few months, the cost of Bitcoin has grown rapidly, reaching a record high this week. In 2016, the currency rose in value by a staggering 122%. However, on Thursday Bitcoin fell sharply. 

This high demand for crypto-currency analysts attributed to China and India. Chinese investors have rushed to the Bitcoin after a sharp decline in the value of the yuan, but also because of Beijing's intentions to strengthen capital controls. 

Growth in India was followed by the decision of Prime Minister Narendra Modi to withdraw from circulation banknotes in denominations of 500 and 1,000 rupees in the fight against the "black market" and corruption. 


Bitcoin vs. gold


"I think it's an interesting alternative asset class, especially as a hedge against such phenomena as demonetization or other geopolitical factors, - said David Moskowitz, CEO Attores. - If your investment portfolio will take a certain part of this crypto-currency - in this there is nothing wrong. " 

But there is a downside. BTCC Lee said that the total market capitalization of all Bitcoin in circulation is only about $ 16 ppb "Compared to other assets, such as gold, stocks, real estate, $ 16 billion - a drop in the ocean" - he says. 

Another important detail: the recent jump in the value of the Bitcoin, perhaps caused by a mismatch of supply and demand that may change in the near future. 


Read :  Features cryptocurrency Bitcoin ! 


 WELTRADE

 

 

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