- Research by World Gold Council shows that 61 percent trust hard form of money over fiat
- Will Bitcoin Benefit from the Recent Finding of the World Gold Council?
- Bitcoin Represent a Harder Form of Money
Bitcoin News Today – According to a recent report by the World Gold Council, there is global demand for harder forms of money than fiat currencies. Bitcoin (BTC) seems to represent an even harder form of money than gold, and such demand points to a brighter future for the digital currency. The firm carried out a survey and 61 percent of the respondents said that they trusted gold more than they trust fiat currencies.
Will Bitcoin Benefit from the Recent Finding of the World Gold Council?
The recent survey by the WGC saw 18,000 respondents from across the globe for their investment preferences. The research revealed that gold is still one of the most popular forms of investment all over the world. The most popular are savings accounts, followed by life insurance, and gold is in the third position. Digital currencies such as Bitcoin (BTC) are deep down in the list, holding the 10th position.
Bitcoin (BTC) Price Today – BTC / USD
64% of people who have invested in gold in the past – be that jewellery, bars and coins or ETFs – would definitely buy again in the future. Find out more in #Retailgoldinsights: https://t.co/cjwr9hmshI pic.twitter.com/jNSo6HP8oO
— World Gold Council (@GOLDCOUNCIL) November 13, 2019
It is pretty much early to expect the masses to believe in the nascent currency, BTC, as a long-term store of value. However, the findings of the World Gold Council shows that there is a considerably high level of distrust of fiat currency all over the world. A total of 61% of the respondents said that they believed more in precious metal than any national currency. Whereas, 67 percent of the respondents said that they trust gold a safe haven against inflation of currency instability.
Bitcoin Represents a Harder Form of Money
Over the past years, many analysts have pointed out the correlation between Bitcoin (BTC) and gold. Historically, gold has been a better form of money than fiat currency. Today, Bitcoin (BTC) appears to be an even harder form of money. Gold found its use as a monetary unit due to the difficulty of forging it as well as its scarcity. Nevertheless, recent research revealed that gold is not as scarce as once thought. There are enormous reserves of gold within the earth itself, and also out in space. Once these resources are taped, the supply of gold would surge enormously.
However, when it comes to Bitcoin, the maximum supply will only be 21 million and no more. It also has an added advantage when it comes to transportation and storage. This asset can travel all over the world very quickly and you do not need a guarded vault to keep it safe. The only thing that Bitcoin (BTC) lacks when compared to gold is history. Nevertheless, this might change faster than people expect.