Is Bitcoin Gold 2.0?

Bitcoin ended 2023 with more than a four fold increase, while gold only rose about 25%. Is Bitcoin gold 2.0?

Let’s consider the fundamentals. Gold has been money for 6,000 years, has always had value, and has a limited supply. Precious metals like gold have had a stability no other assets have had.

Bitcoin on the other hand, has been around for just over a decade. Based on how the Bitcoin blockchain works, there can only be $21 million Bitcoins ever mined. So Bitcoin does have a limited supply like gold. But it does not have the same history as gold.

Therefore, Bitcoin remains a speculative asset. If you’re looking to get rich, then maybe speculate in Bitcoin. Then again, Bitcoin could go to zero and you could lose everything. If you’re looking to save wealth, then there are few assets more safe than precious metals.
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