From an economic point of view, gold is no different from Bitcoin and is the same meaningless product, the value of which is only for the reason that you can sell it for someone. About this radio station “Says Moscow” said the investment manager of the company “Opening-Broker” Timur Nigmatullin.
He believes that gold was a protective asset in 2008-2009, but now she lost its value. “Gold, as you see, get cheaper, because professional market participants do not believe that the dollar will be very depreciated, do not believe that gold from it can protect,” he called the reason.
On the other hand, Bitcoin is compared with gold not for the first time. For example, the Director General of the largest Russian gold mining company Polyus Pavel Grachev does not consider these assets competitive in the long run. In his opinion, the nature of Bitcoin and gold varies greatly. They have different groups of investors who will overcome more from each other over time. Bitcoin, according to him, was created as a tool for calculations, and not as a means of accumulation and conservation of capital.
For its part, the American billionaire investor Paul Tudord Jones is confident that cryptocurrencies have an advantage over gold. “The cryptocurrencies clearly win the race against gold. They can be very good insurance against inflation. For me, they are preferable to gold,” he said.
Earlier in November, the price of gold reached a maximum for five months. The price of precious metal rose to 1868.5 dollars per ounce. Investors turned to gold against the background of accelerating inflation. At the same time, the demand for the precious metal will continue to grow until global central banks develop prices to deter price.
At the same time, the Bitcoin course rang for more than ten percent on November 16 and dropped below 60 thousand dollars. At the auction on Wednesday, November 17, the most popular cryptocurrency played a slightly drop and turned out to be at the level of 60.5 thousand dollars per coin.