- Grayscale Investments have launched a campaign encouraging people to drop Gold for Bitcoin.
- They said: “Cryptocurrencies like bitcoin are the future. They’re secure, borderless, and unlike gold, they actually have utility.
The Digital Currency Group are encouraging investors to ditch the precious metal gold for its digital counterpart, Bitcoin, which is often touted as the gold of the digital currency space.
In the report Grayscale Investment said:
Everyone loves a piece of gold jewelry, but is gold really the best investment in today’s digital world?” This is the rhetorical question that the website challenges its readers to consider. “Gold represents the past,” it continues, saying that Nixon dropped the gold standard that backed USD back in the ’70s.
Cryptocurrencies like bitcoin are the future. They’re secure, borderless, and unlike gold, they actually have utility,” the commercial posits. This last point feels a bit too pointed and a tad ironic, considering it ignores gold’s crucial utility (among other things) for computer circuits and the very hardware that allows us to access the internet and, by extension, bitcoin.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.