There’s been much debate about whether or not Bitcoin is on the trajectory to “dethrone” gold as the default way to store wealth for the long term. Some argue that blockchain payments “solve” the problem of gold’s divisibility. The trouble with that line of reasoning comes down to why most people buy gold in the first place. Investors aren’t concerned with buying gold to use in transactions, they’re investing to hedge against inflation and provide their portfolio with some protection against market volatility. Few gold buyers are interested in using gold as a way to conduct transactions – but with gold wafers, physical divisibility is not much of an issue.
However, that doesn’t mean Bitcoin should be of no interest to gold investors. For almost a year, institutional bullion investor Old Mutual Gold and Silver has been trading in Bitcoin. They see it as a digital complement to gold, fulfilling a similar role. Having invested in Bitcoin in the early stages of its 2017 ascendance, Old Mutual Gold and Silver took profits gained from Bitcoin t o reinvest in gold bullion and increase its positions.
Bitcoin investments have become a riskier proposition a year on, but other cryptocurrencies show promising growth. As an individual gold investor, should you be looking into cryptocurrencies? Gold bullion provides a lot more security than cryptocurrencies, which are going through a bubble moment. A bubble occurs when asset prices go far higher than their fundamental values, bolstered by rampant speculation. Many now believe that’s what’s happening to cryptocurrencies. The long-term strategy of Old Mutual is telling; they used Bitcoin to increase their position in gold. It’s a strategy gold and silver experts in Canada can easily explain – the long-term outlook on gold and silver is highly positive and a move into gold is a reliable, conservative one.
Rather than invest in cryptocurrencies, it may be a better idea to take cryptocurrency you already own and invest your profits in a safe haven like gold. Investing in gold has long been used as a conservative position and now you can buy gold with Bitcoin from gold dealers like us. It makes trading simple when you can directly trade Bitcoin and gold.
Not only do we accept Bitcoin at Silver Gold Bull, you can also use a number of “alt-coins” like Ethereum, Bitcoin Cash, LiteCoin, and Dash, many of which are now seeing big market gains while Bitcoin undergoes dramatic ups ad downs. As the heat drains out of crypto, making the move to silver and gold bullion could be your way out. It’s also easy to shop for gold bars and gold coins with Silver Gold Bull. You can find gold bars and gold coins, as well as silver bullion, including American Gold Eagles, Gold Maple Leafs, Gold Krugerrands, and more coins from mints around the globe.
If you have cryptocurrencies you want to trade and you’re looking for gold bars for sale, you should know that you can save 4% on the price of gold bars when you buy with a cryptocurrency. There are other ways you can enjoy similar discounts, as well as rotating deals on a number of gold coins and silver coins. Use Silver Gold Bull to buy gold and silver if you want to buy gold with Bitcoin. It’s a quick, painless way to increase your gold position.