So the term Digital gold has being going around a lot since January 2017.
The term in itself was coined in
However, this word has become common place while referring to Bitcoin in recent times. This was mainly because the monetary value of a single Bitcoin officially overtook the value of Gold Per Ounce [28.34 Grams] in January 2017.
This was rather a historic moment when a digital asset had overtaken an actual physical asset that mankind had used for thousands of years as the basis of basic economics.
However, the Bitcoin bull did not stop there!
So let me explain this graph :
You could buy about 0.3 Ounces 8.5 grams of Gold in January of 2016. Today, you could buy close to 15 ounces or 425 grams of Gold in 2017. We are talking north of 500% on gains here.
Now let’s compare Gold Vs USD.
If you were lucky, let’s say you bought gold at it’s lowest toward the end of 2015 at 1050 USD per Ounce or 28.3 Gram. If you were to sell your “physical asset”, you would be selling it at around 1255.5 USD per ounce. [Highest Buy on December 16, 2017]
Looking at similar timelines and buying of Gold with Bitcoin Vs Buying of Gold with USD, you would have made a humble 18% gain on your investment over 2 years, while with Bitcoin, you have an appreciating asset that quintupled its value against gold!
So if you were an unlucky investor who thought Gold was a safe bet, remember that it is not yet late to invest into cryptocurrencies. An immutable asset that has no inflation will stay true to its value.
In this age of drastic innovation where we question economics, basis of money and create a commodity out of trust, it is not astounding or surprising to me that a technology like blockchain and its by products like cryptocurrency are here to change the way transactions work.
So bitcoin is much more valuable than gold right now, Digital Gold is too humble of a name, we are almost closing in on Digital Plutonium valued at 4000 USD per Gram. So let’s buckle up as it gets there!
To live is to risk it all. Otherwise you’re just an inert chunk of randomly assembled molecules drifting wherever the universe blows you. – Rick Sanchez
Lets be a part of a revolution that will forever change the way that humans deal with transactions.
For updates on how to ease into the crypto world, keep following us @ www.cryptx.in.