Is Bitcoin better than gold?

It was in 1971 when Led Zepplin’s Jimmy Page strapped on a cumbersome double-neck Gibson guitar and Robert Plant sung the iconic line “all that glitters is gold”.

Back in the early 70s it was a different world.

An ounce of gold was going for about US$45 and you could get your hands on a second hand Gibson Les Paul from 1960 for less than US$200 – if you shopped around at a time when few imagined a guitar could be a serious investment.

And Bitcoin was nothing to anyone unless they mistakenly thought it was a reference to a fragment of a penny.

Today, an ounce of gold will set you back about US$1,288 but you can expect to pay far more than US$150,000 for the right example of a 1960 Les Paul.

While gold has gone up by more than 2,700%, a 1960 Les Paul has often provided returns that exceed 74,000%.

It’s been a while now since investors and media have recognised the investment potential of an electric guitar with Reuters and Forbes among numerous outlets offering advice and information on the topic for more than a decade.

Clearly, the lady who was sure that all that glittered was gold has been proven wrong.

Fast forward four decades and enter Bitcoin.

Read More Here: https://www.fool.com.au/2017/11/27/is-bitcoin-better-than-gold/