The debate about Bitcoin and Gold has once again intensified. In recent times, the price of bitcoin has risen sharply, while gold has fallen by Rs 10,000 from the all-time high.
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The world's oldest, largest and most popular cryptocurrency Bitcoin (Bitcoin) price has reached $ 64,600. If you look at Indian rupees, then the price of one bitcoin has been around 4.8 million rupees (Bitcoin Price all Time High). That is, the price of one bitcoin has exceeded one kilo of gold. On Tuesday, gold for June delivery on MCX closed at Rs 46,964 ( $ 625.84 ) per 10 grams. According to this, the price of one kg of gold is Rs 4696400.
Investors changed thinking
Jeffrey Gundlach, chief of DoubleLine Capital LP and longtime gold investor, has now changed his mind. He considers bitcoin as a better option than gold. Gundlach tweeted that he had been investing in gold and US dollars for a long time but has now shied away from both. He said that bitcoin could be a steemulus asset. This is an indication that institutional money managers are turning to bitcoin except gold.
Increasing popularity
According to JP Morgan, a lot of money has been invested in bitcoin funds since October, while investors have distanced themselves from gold. This trend is likely to persist for a long time as more and more institutional investors are turning to cryptocurrencies. The popularity of digital currencies as an asset class is continuously increasing.
Price has increased by leaps and bounds
When Bitcoin was launched in 2009, it was priced at Rs 0.060. Then the price of gold in India was Rs 14500 per 10 grams. Today, the price of one bitcoin has crossed Rs 48 lakh, while gold is hovering around Rs 46 thousand per 10 grams. The value of bitcoin, the world's first decentralized currency, has risen very rapidly in these 12 years, but on the other hand gold is considered safe for investment.
Market reputations
Gold is easy to buy and sell. Gold can be availed easily by pledging gold. India has a long tradition of investing in gold. On the other hand, the number of people wanting cryptocurrency in India is very less. It is estimated that 7.5 million people in India have cryptocurrency. The government is set to bring a bill in Parliament to ban cryptocurrencies like bitcoin.
Price can reach 4 lakhs
The price of bitcoin can reach 4 lakh dollars (about 2 crores, 98 lakhs, 64 thousand 140 rupees). Bloomberg Bitcoin (BTC) analysts have claimed this. It is currently priced around $ 64,000. Analysts have estimated this based on the rise in the price of bitcoin in 2013 and 2017. According to Bloomberg's Monthly Crypto Outlook (Crypto Outlook) released on April 6, the future of bitcoin and cryptocurrency is bright.
What is bitcoin?
Bitcoin is a kind of cryptocurrency. 'Crypto' means 'secret'. It is a digital currency that works based on the rules of cryptography. Its most important thing is that you cannot touch it because it is digital. Bitcoin was launched in 2009. The price of bitcoin is continuously increasing. It is a kind of digital currency. It was started by a man named Elias Satoshi.
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