Gold prices jumped 1% on Tuesday morning, according to Bloomberg, the jump in gold prices is a ‘too little too late’ response to the general state of geopolitics and market uncertainties. The precious metal appears to be losing its ‘safe haven’ status. Traditional models should have gold prices well above what they are now, and there are two things to blame for gold’s relatively poor performance.
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Yes Bitcoin is taking over vs gold as a place to hold your wealth.
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Unthinkable really that for so long throughout human history gold has been the ultimate store of value. Entire economies have their money supply backed by it, back in the day.
Bitcoin is slowly but surely taking over, at least for now. My only concern is the reliance on the internet to transact in BTC. What happens in a SHTF scenario where you need to escape with your wealth and potentially spend it?
Escaping with it might be ok, it's how to spend it that will be a challenge!
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