Seeking Alpha goes on to say: The governments of China and India have restricted their citizen's investment in gold to such a degree that people are abandoning it and turning to cryptocurrency as the primary alternative investment.
As a reminder, some of the reasons I pointed out in the past which relate to international markets causing Bitcoin prices to increase are as follows:
2) Negotiating Customs
4) Bitcoins are less bulky than gold coins
6) Bitcoins are gold 2.0
9) No central processor or storage facility is needed with Bitcoins
15) Bitcoins are a virtual commodity
See one year chart of Bitcoins followed by gold - notice Bitcoin value growing quickly as opposed to gold which is stagnating.
I think it's a bit sensational to say gold will crash because of Bitcoin but then again tech has disrupted retail, photography, manufacturing (3-D printing), airplane travel and just about everything else... Why not Gold?
Tags: bitcoins, gold, investments Related tags: seeking alpha, bitcoins, bitcoin
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