See what you think comment and vote on the opinions of 2 bigshots in the financial world:
YES – James Collier is co-founder of Prism.
Cryptocurrencies, bitcoin in particular, are clearly a far less stable investment than gold bullion.
And if it’s stability you’re after, then gold’s your guy.
But if you want to make fast money, bitcoin still has legs. Most recently, crypto traders have been losing their minds over the potential creation of a major offshoot alternative currency to keep pace with bitcoin’s growth, which impacted bitcoin prices.
The decision however, was called off, and since then, bitcoin’s price has surged to $7,848, later tailing off to $7,250.
This dramatic spike and fall won’t be the last for bitcoin – it’s a volatile currency that could potentially devolve into a horror show experience for investors.
The numbers though, speak for themselves.
BITCOIN MILLIONAIRE PREDICTS SILVER WILL BE WORTH MORE THAN GOLD!
At the start of 2017, one bitcoin cost $1,000. It’s now seven times that figure.
So for big reward and an exciting ride, I’d (carefully) continue to invest in bitcoin. And if you’re the day trading type, there are some great deals to be had on the altcoin market – visit coinmarketcap.com to see for yourself.
NO – Adrian Lowcock is investment director at Architas.
Bitcoin is a new fad, a get rich quick idea which uses some interesting technology but it has no use, produces no income, lacks security, and has no history.
The appeal is the recent performance, attracting speculators looking for a short cut to wealth.
Gold shares some of the same characteristics as bitcoin, but it’s the differences that matter.
There’s its physical existence – it is stunningly beautiful and is pliable enough to be used by artisans around the world.
It is just rare enough it make it valuable but not too rare to make it inaccessible.
Then there is its track record, measured in millennia, not months and years. Gold has been a store of value throughout the history of humanity.
It has survived wars, plagues, the industrial revolution, invention of money – and will survive bitcoin.
As an investment, gold and bitcoin couldn’t be more different.
Gold tends to protect investors capital while bitcoin is pure speculation. Long term, gold will be the winner.