Insane Return on Investment!
The results are astounding if you compare the return on gold investment vs. Bitcoin over the last five years! Gold has returned roughly 40% going from a low of $1125 per ounce to a high of $2067. In contrast, Bitcoin has seen a 17,500% return, going from $375 in November 2015 to over $66,000 in November 2021! Had you sold an ounce of gold in 2015 and put the proceeds into Bitcoin, you would have $198,000 today!
It’s not too late to invest
Ok, so maybe that first reason was more of a wake-up call since you can’t go back in time, but not all hope is lost. Many experts are expecting Bitcoin to surpass $100,000 by the end of 2021. And the long term, some experts such as Ark Invest’s Cathie Wood expect Bitcoin to exceed a half-million dollars per coin in the next five years! A recent Forbes article asked a panel of fifty bitcoin and cryptocurrency experts their predictions on the future price of bitcoin. The average consensus was $250,000 by 2025 and $5 million per bitcoin by 2030!
It’s easier to use Bitcoin
You can go anywhere in the world and pull up your bitcoin on a digital device for use on the spot, and you can send bitcoin to someone across the street or across the globe in a matter of minutes. And the use cases for Bitcoin and other digital currencies such as Ethereum will only increase over time; when you compare the actual usability of Bitcoin to Gold, it’s easy to see that bitcoin is the winner. When was the last time you used gold for anything besides jewelry? Unless you want to barter with a gold bug for a loaf of bread, chances are you cannot use gold to buy any goods or services.
Some are calling Bitcoin the new digital gold. And while I don’t expect Bitcoin to replace gold as a store of value, it’s hard to deny Bitcoin’s new role in society. Historically gold has been a hedge against inflation for thousands of years, and there is value in this history compared to Bitcoin, which is still a newborn at only 13 years in existence! There is also a risk of government intervention in banning the use of Bitcoin and other digital currencies. For this reason, I would never suggest going “all in” on Bitcoin. But if you have a couple of ounces of gold sitting around, it would almost certainly be a good idea to sell and buy Bitcoin. You can thank me in five years!