BITCOIN VS GOLD PART 3

So let’s continue digging into the bitcoin VS gold saga that we’ve been looking at this week.

Because Bitcoin is as young as it is (13 years old this year), there’s not much history to go back on so in a way we could say that its worth hasn’t been really proven yet. BUT…. many cryptocurrency speculators have been using BTC to store up value and use it as a hedge against market corrections and/or recession.

A market correction occurs when there is a decline in the price of an asset. It ranges anywhere between a 10-20% drop from its peak. That happens because investors have for some reason been motivated to sell rather than buy. Depending on the asset I’d say it’s good to buy during a market correction (granted that you’ve thoroughly researched and have peace about your asset). The price of BTC right now is exciting to me because even if the value that you have right now seems to be dwindling, just know that it won’t always be at that price so get more if you want to! (I am not a financial advisor; any trades you enter and/or any cryptocurrency you purchase are being done at your own risk, and hopefully after you’ve done your due diligence.)

We all know that GOLD as an asset has been (for the most part) holding its value over long periods of time. Many people who have GOLD also have crypto, it’s good to diversify your portfolio that way. Galaxy Digital’s CEO Mike Novogratz has projected that BTC will overtake GOLD’s market cap (which currently sits at over $11 trillion) within just a few years.😳🤑 That.is.huge.people!

We do know that Central Banks rely on the value of GOLD to help create economic stability/growth and that’s why the American Government used the gold standard up until the 1970’s. (The gold standard is a monetary system where the standard unit of currency (in this case the US Dollar) is a fixed quantity of gold, or it’s kept at the value of the fixed quantity of gold.)

But … the US Government abandoned the gold standard in an attempt to curb inflation and to prevent foreign nations from overburdening the system by trying to redeem their money for gold.😳 So now the US Dollar isn’t really backed by anything. If the US Government runs out of money, they just print some more, and print some more, and keep on printing!💵💵💵

What does that mean for cryptocurrency enthusiasts? It’s simple: DO YOUR RESEARCH and GET BTC!🤑😀 Send me your questions if you have any, and if you’re ready to learn more about cryptocurrency, NFT’s, the Metaverse, and other things concerning digital currency, come join me at IM ACADEMY and let’s learn together! Click the link RIGHT HERE!

Copyright ©2022 Sherma Jacqueline Felix, BLACK ADVANTAGE Publishing™ . The author shall neither be liable nor responsible for any loss or damage allegedly arising from any information or suggestions in this post.