You have probably noticed that people are becoming more concerned about the world’s financial situation lately and that has meant investors looking for a safe haven for their money. It used to be that when people wanted to protect their money in times of turmoil they would immediately look at gold but in today’s high tech world more and more people are also considering Bitcoin. Is Bitcoin going to become a popular choice as a safe haven for investors?
Bitcoin an Alternative to Gold
There is no question that global concerns over the recent rhetoric between the United States and China have caused many people to look into safe havens for their money. This is not the first time that investors have had to worry about currency troubles. If you go back in time you will find that in the 1930’s there were serious concerns about currency and people worried about global conflicts. What people did back then was put their money into gold because it represented a safe haven. There were no cryptocurrencies available 90 years ago like there are today and people had very few choices if they wanted to protect their money.
In today’s world, people can hedge against global concerns by investing in Bitcoin, a digital alternative to gold. Bitcoin is not controlled by any central authority and its price isn’t going to go down because of problems in a single country. Bitcoin has a lot of similarities to gold, as it is scarce, hard to mine, easily stored and also easily transferred. It is also gaining a strong following by people who are looking at safe havens for their money.
The price of Bitcoin soared late in 2017 and the price has had a resurgence in 2019. There is no question that global financial concerns are driving some of the price, but that is not bad news. Unlike 2017, when the price of Bitcoin rose because of people jumping in for fear of missing out, the price of Bitcoin in 2019 has risen because of a number of factors, none of which are the newbie who is just looking to invest a few dollars.
Some financial experts believe that Bitcoin will continue to gain support among people looking to protect their money. Nigel Green, Chief Executive and founder of deVere Group said recently to the media that people are realizing the value of Bitcoin during an unstable global market. “This is not a coincidence. It reveals that consensus is growing that Bitcoin is becoming a flight-to-safety asset during times of market uncertainty. Bitcoin is currently realizing its reputation as a form of digital gold.
Green went on to say that Bitcoin could even become the preferred choice of investors over gold. “Up to now, gold has been known as the ultimate safe haven asset, but Bitcoin, which shares its key characteristics of being a store of value and scarcity, could potentially dethrone gold in the future as the world becomes increasingly digitalized.”
There is no doubt that investors are looking at other options due to the fact that China and the United States are looking at a trade war. “The legitimate risks posed by the continuing trade dispute, China’s currency devaluation and other geopolitical issues, such as Brexit and its far-reaching associated challenges, will lead an increasing number of institutional and retail investors to diversify their portfolios and hedge against those risks by investing in crypto assets,” Green added in his comments. “This will drive the price of Bitcoin and other cryptocurrencies higher. Under the current circumstances, I believe the Bitcoin price could hit $15,000 within weeks.”
Many companies have already embraced cryptocurrencies, especially Bitcoin as an online payment method. Bitcoin has proven to be a reliable, safe and fast way to transfer money and businesses have taken notice. Marquee companies like AT&T, Microsoft, leading online sportsbook BookMaker, and others have already implemented Bitcoin payment methods. You can get started with a Bitcoin wallet today and begin sending and receiving Bitcoin at BookMaker with no worries about your funds not going through. Check out the latest Bitcoin deposit and withdrawal options at BookMaker today and join the many customers who have already discovered Bitcoin as a reliable payment method.
Check out the latest Bitcoin deposit methods at BookMaker today.
