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Supporters of Bitcoin (BTC) have been indicating that since its emergence, it could potentially rival gold as a traditional store of value. Although these two products belong to different asset classes, Bitcoin supporters believe that as Bitcoin matures, it could eventually surpass gold. This topic has sparked debates in the financial circles, and Google’s search engine giant, Google Bard, the productive artificial intelligence (AI) platform, has explained why Bitcoin could be advantageous compared to gold as an investment.
“Bitcoin is Greater than Gold” According to Google Bard
Google’s artificial intelligence platform, Google Bard, responded to the question “Which asset is a better investment?” Google Bard presented four convincing reasons why Bitcoin, the crypto king, could be advantageous over gold as an investment.
Google Bard defined liquidity as the main advantage of Bitcoin. Unlike gold, which requires physical ownership, Bitcoin can be easily bought and sold, and its 24/7 transferability allows investors to access their funds quickly and easily. This ease of access and high liquidity makes Bitcoin an attractive option for those who value agility in their investments.
Easy to Store and Transfer
According to Google Bard, unlike gold, which requires physical possession or secure storage in a vault, Bitcoin is purely a digital currency that exists only in the digital realm. This feature makes storing and transferring Bitcoin extremely easy.
The only thing needed to securely store Bitcoin is a digital wallet, which can be software, hardware, or a paper wallet. Investors can store their wallet information digitally or even memorize it like a password. This makes Bitcoin highly portable and easily accessible.
Not Subject to Government Regulations
Google’s AI platform also highlighted another point in favor of Bitcoin: its independence from government regulations. While historically gold has been subject to government oversight and regulations that can affect its value and trading, Bitcoin, at least for now, is not subject to such circumstances.
Compared to gold, Bitcoin operates on a decentralized blockchain technology, making it highly resistant to government intervention. This feature appeals to individuals seeking a financial asset that operates outside of traditional systems. It should be noted that active efforts are being made worldwide to regulate Bitcoin, but completely banning the digital currency is difficult.
High Profit Potential
Google Bard also mentioned Bitcoin’s astonishing value increase since its inception, which has attracted investors looking for significant gains. While gold has a history of preserving wealth, Bitcoin’s price trajectory indicates its potential to generate substantial profits within a relatively short period. However, this high-profit allure also comes with high volatility.
On the other hand, the AI tool highlighted some disadvantages of Bitcoin, such as volatility and the risks of being a new asset class and being prone to hacking and theft, as the main drawbacks of the crypto king.
It is important to note that Bitcoin represents a relatively unexplored asset class compared to the precious metal gold. However, the underlying technology has the potential to transform various sectors beyond finance. As blockchain progresses, the use cases and value of Bitcoin may increase, making it a fascinating investment.
