The next question is: Will Bitcoin leave gold behind as a store of value?
Bitcoin followed its historic high (again) by surpassing US $ 58 mil this Sunday (2/21/21). Leaving US $ 57.336 a kilo of gold behind.
Let us remember that last year the value of the US dollar fell sharply due to quantitative easing measures. The Central Bank of the United States printed an amount of money never before seen in history. The government states by statistics that the inflation rate is only 1% but the cost of living and the price of goods and services increase dramatically. It is noteworthy that the pandemic has harmed and stagnated the world economy.
At that time, gold and Bitcoin rose. On July 1, the kilo of gold was $ 57,093. As of August 4, it was $ 65,477. In the same period, Bitcoin’s price soared from $ 9,477 to an August 2 high of $ 12,034. With the world’s main reserve currency in crisis, researchers were drawn to gold and Bitcoin as protection against inflation.
The price of gold has since fallen, although it has remained more or less stable. The real bikes here, of course, are Bitcoin, which has increased almost five times.