Could Bitcoin Replace Gold as the New Safe Haven?
A growing number of people believe Bitcoin could soon replace gold as a safe haven against a depreciating dollar. This, of course, is just speculation, but it is curious to see the exuberance of people regarding Bitcoin.
Aside from the fact that there are a multitude of digital coins (assets), what’s unique about Bitcoin is the fact that its supply is truly fixed. Only 21 million bitcoins will ever be produced. So, considering there are an estimated 47 million millionaires in the world, if each of them wanted just one bitcoin, they couldn’t all acquire one. These supply limitations make Bitcoin bullish.
Gold on the other hand, has been a means of storing wealth for 5,000 years and is a real physical asset. It has always had value in times of geopolitical uncertainty and has many
