Coinbase Analysts Pointed to the Main Advantage of Bitcoin Over Gold
A report by analysts at the Coinbase cryptocurrency exchange claims that bitcoin has clear advantages over gold.
The main advantage of BTC is the fact that digital currency can be freely moved around the world. Precious metal, in contrast, can only be physically moved at a high cost.
However, fundamentally, there is much in common between gold and bitcoin, the study says. According to analysts, both assets are scarce and global measures of value.
The coronavirus pandemic has once again emphasized the benefits of precious metals and cryptocurrencies. However, the latter proved to be the most mobile form of capital conservation.
Experts emphasized that gold during the pandemic period was growing in price precisely due to disruptions in the supply of metal in the global market. This is due not only to the closure of borders between states but also to the cessation of metal mining due to the transition of many companies to the quarantine regime.
It was during this period that bitcoin became a more attractive asset, as it can be freely moved around the world.
Author: Marko Vidrih
Featured image credit: Pixabay