Will Gold Manage to Outperform Bitcoin? Will gold manage to outperform Bitcoin?
Bitcoin has been time and again called “digital gold”. This is mostly due to the similarities both these assets share. This includes sound money characteristics, scarcity, or limited supply, correlation with other markets, hedge against inflation, and a store of value assets. Several have even touted Bitcoin to be the 21st-century gold. Looking at Bitcoin’s potential, the community expected the asset to take over gold and become a more popular choice of investment. However, things did not go as planned thanks to the ongoing bear market. While Bitcoin endured a yearly drop of about 74.64%, gold was up by 0.55%. Even though this isn’t a major rise, gold still remained relevant across several markets. Source At press time, BTC was trading around a low of $17,440.02 with a 2.73% daily surge. The asset hit an all-time high of nearly $69K November 2021. In a recent research report, Goldman Sachs elaborated on the same line of thought. The report points out...