A billion-dollar Australian investment firm has already entered into the Cryptocurrency market, stating that digital currency such as Bitcoin is superior to gold. On the other hand, several other major firms stated that the demand for Bitcoin is encouraged not only by young retail investors but also by institutional investors such as asset managers and family offices.
You might agree or not; Bitcoin can become the future of investment as the demand for this digital currency is not going to decrease at all. Individuals are considering Bitcoin as the best opportunity to invest at present because the digital currency landscape is constantly improving and attracting the attention of many.
Now, the majority of business owners and firms are getting aware of Bitcoin benefits, and instead of investing in gold and other assets, they are planning strategies to invest in Bitcoin.
Bitcoin ‘Entering the Kingdom Of The Mainstream’
One of the executives of a firm states that he had been positioning investments in golds for his clients for many years, but now, it is replaced with Bitcoins for the same. This is how Bitcoin is grabbing the gestures of clients. This digital currency is entering the kingdom of the mainstream rapidly.
Large institutions had stayed away from Cryptocurrencies, but now they have shown their interest in this decentralized currency. Also, those who have no authority in traditional currencies can enter into the world of virtual currencies.
On the other hand, you might know about PayPal, one of the most used payment systems on the internet, particularly for international transactions. PayPal has recently introduced its new feature where the Crypto users can sell and buy Bitcoins and also other digital currencies.
Thus, introducing this feature shows the PayPal firm supports Cryptocurrencies, and their main purpose behind this strategy is to gain high engagement and increase its users in the market.
Can Bitcoin Replace Gold?
When Bitcoin was founded, it gained more critics than praise. People preferred to buy gold rather than investing in Bitcoin due to the steady rate of gold. Moreover, some neglected Bitcoin because it was not linked to any central authorities, and they believed the myth that this digital currency can be easily hacked.
Over the years, the value of Bitcoin has massively swung (representing its volatility), but gold prices remained nearly the same. Young investors and other people are getting aware of this asset and finding ways to invest. The demand for Bitcoins is increasing each second, and due to this, the tasks of Bitcoin miners are becoming tough.
According to the experts, it has been estimated that by 2028, Bitcoin will overtake gold in terms of market capitalization, and the worth will be over $1 million. Thus, this shows that the future of Cryptocurrency is truly bright and how investing in this valuable asset can change your life by increasing your passive income.
Bitcoin Is Superior To Gold
The firms who are already earning from Bitcoin understand the value of this digital currency. Suppose you bought gold today, and the value of gold can either increase or decrease after a year. You cannot become rich by investing a lot in gold. However, the price of Bitcoin is never going to decrease; instead, increase for the same.
The graph of Bitcoin’s value will show you how the volatility of this digital asset has taken its place in the market and why it is superior to gold. Major firms such as PayPal, Overstock, CheapAir, etc., already started accepting Bitcoins, and it has been found that there are more than 160 companies that accept Bitcoin at present.
Moreover, Decentralized Finance (DeFi) is the next move to create an open financial service ecosystem that can be used all over the world without any permission.
Closing Thoughts
cfd-trader and Wallet Investor calls BTC a good purchase and prophesies that Bitcoin will reach 7935.330 USD in 2021 and hit 12235.00 USD in the year 2025. This can be the reason why major investment firms are moving from gold to Bitcoin. Besides, if you have any questions, feel free to mention them in the comment section below.