Why Bitcoin is referred to as digital gold II

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Words will fall us if I begin to enumerate how valuable Bitcoin is, for infact there has never been an asset class like Bitcoin created in a unique manner and different from all others, such is the way of Bitcoin almost like an asset class in a league of its own even among other cryptocurrency so ofcourse it's no suprise to see it draw comparison with gold.

Bitcoin has undergone several scrutiny since it's inception and some many hurdles enough to make any fiat currency to crash but yet it's still here despite all the fud and all the manipulations and all the regulatory challenges and every form of negativity spread by people who don't mean well for Bitcoin yet here we are and Bitcoin is not just surviving but thriving and performing well.

Bitcoin has shamed a lot of critics and silenced those who have a sense to reason and made my critic firm believer as its core and fundamental values are undeniable and it can't be hidden either and one way or the other no matter how badly we feel it is we know that some of the benefits are quiet unique, leading many to out of loss for words label Bitcoin as "Digital gold."

Well how true is this statement, is Bitcoin truly a digital gold or what are some of the things that have led many to come to believe this?

Well follow through as I share some of this reasons below.

Solid reason why Bitcoin is a true digital gold

Well most of the comparison of Bitcoin with gold stems from the fact that most of what gold is used for Bitcoin is also used for those things and even more, take for instance we invest in gold or better still gold provides a smart choice of investment for investors and what about Bitcoin well ofcourse Bitcoin is a wonderful investment opportunity, it's present a fine investment alternative which means that just as gold is used for investment Bitcoin too being a volatile asset class present a good opportunity from making profit which smart investors utilities to great effect.

And apart from both Bitcoin and gold being a wise investment choice they often serve as safe haven for many especially given the time we live in where financial crisis is often prevalent and economic of the nation is often in disarray and at this time people must likey look for something to invest in to provide stability for them or possibly keep the afloat the changes in financial struggles of their country and in this case both gold and Bitcoin are looked at as a safe haven hence why Bitcoin is referred to as digital gold.

Gold today there is often a challenge when it comes to moving this asset, I mean it's hard to move gold that's why making transactions with it actually it's harder because you will have to carry large amount of gold bars depending on what you want to buy and how do you store this asset and have peace of mind when everyone would almost know you are holding gold so this means physical gold actually have some bad side though due to its lack of portability.

Bitcoin on the other hand is a rather portable asset, easy transfer and being a digital asset means all the transactions are done electronically which means no one apart from who you doing business with knows if you giving or receiving Bitcoin and they are stored either in cold wallet or hot wallet all these an easy process, let's say a billion dollar worth of gold bar would almost take up the space of a room while a billion dollar worth of Bitcoin could be laying in a cold wallet or even saved on our drive on a small drive that we could easily hold in our hands, so this goes to show that Bitcoin really is digital gold as it offers even the portability that physical gold could never offer.

Bitcoin is a very portable asset class and the transactions doesn't involve making any physical payment at all as once one is connected to the internet you can readily carry out a Bitcoin transaction. Portability and accessibility hence makes it logical to say bitcoin is digital gold.

Also most times what causes inflation in a country could be due to excess supply of the country's currency which is to say fiat could always be printed at will but that's not the same with Bitcoin which has a fixed supply hence making it suitable to be used as a way for preservation of wealth and a hedge against free fall of our country's fiat, so yes Bitcoin is true digital gold, that much is certain.

Bitcoin is decentralized, and it's price it's not determined by the economy of any one country, my point being that since that's the case it would be sound to understand that Bitcoin isn't affected by the economic decisions of a place and that is what makes it a suitable choice to provide stability in a world of financial instability and uncertainty, Bitcoin has become something that helps us stay afloat.

Sometimes when some common traditional asset are going up Bitcoin would be dumping and vice versa this is showing kind of distinction between Bitcoin and other asset and this is how physical gold is. Bitcoin not moving with other traditional asset shows they are not really correlated and both moves on it own which means when the traditional market is dumping Bitcoin could be pumping and that's why some will buy in on it especially those looking for diversification Bitcoin provides this and much more so it's only right that it be called digital gold.

Conclusion

From the writeups above you would see why many refer and view Bitcoin as digital gold and true indeed I share this sentiments as well as Bitcoin has proven to be able to provide good alternative to all we use gold for and offers some things that gold doesn't, of where it strength falls short.