Many investors, especially those with a love for cryptocurrencies, often debate whether Bitcoin or gold is the better investment. While crypto enthusiasts are usually confident in their choice, the general public tends to prefer gold, seeing it as a stable asset in uncertain times. Recently, crypto expert Willy Woo has offered strong arguments that challenge this pro-gold view. Interested in his take?
Read on to find out why Woo believes Bitcoin might be the superior investment.
Gold Production Analysis: A Simple Study
Woo’s main argument is based on his prediction that gold production will rise significantly in the 2030s.
Data from Our World in Data supports this, showing a clear upward trend in gold production since 1850. In 1976, production was 668 tons; by 1971, it had increased to 1,603 tons. After the fall of the USSR in 1992, production reached about 2,241 tons, and by 2015, it had nearly doubled to 3,100 tons.
Woo attributes this increase to rising demand for gold and recent advances in mining technology. These factors have allowed miners to boost production and quickly meet market needs. As gold prices go up, it becomes more profitable to extract more gold.
Why is Bitcoin Better than Gold?
Woo supports Bitcoin over gold, highlighting Bitcoin’s fixed supply as a key advantage. Unlike gold, Bitcoin has a set limit of 21 million coins, as defined by its code. The creation of new Bitcoins is halved approximately every four years, and once the 21 million cap is reached, no more Bitcoins will be produced. This fixed supply contrasts with gold’s increasing availability due to advances in mining technology.
It’s Time to Rethink Your Investments!
In summary, Woo’s arguments suggest that the value of gold could decrease because of its rising production and technological improvements in mining. These insights might lead traditional gold investors to reconsider their investment strategies and consider Bitcoin as a valuable alternative.
Also Check Out: Crypto Market Today: Why Bitcoin Price Could Hit New Highs in 2024
The future of investment is uncertain. Where do you stand? Is Bitcoin the path forward, or should we stick to traditional assets like gold?
