Will gold and silver be ousted by Bitcoin? These types of stories are to be expected, especially now the price of Bitcoin keeps rising even surpassing the $4000/BTC barrier. The supply of Bitcoin in circulation is limited to a maximum of 21 million units, and the annual growth in the supply of Bitcoin will diminish until that 21 million limit is reached. Apparently, the very same question keeps our dear readers up at night, because one reader recently remarked: “Since this technology (blockchain, ed.) is gaining ground fast and inflation is no longer an issue, to what extent is it still useful to protect yourself with gold. (…) The increasing popularity of, among other cryptocurrencies, Bitcoin causes, according to my opinion, also an ousting of gold and silver.” Let us today dive a bit deeper into the relationship between gold and Bitcoin.

Bitcoin Does Not Even Come Close to Gold

Bitcoin Does Not Exist Without Blockchain and Blockchain Does Not Exist Without Miners

Benefits of Bitcoin in Comparison to Gold

Source: Bitnodes


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