Regret buying gold instead of Bitcoin

November 26, 2021 By admin 0

With the same capital of more than 100 USD, if buying 0.03 Bitcoin since the beginning of the year, so far, the profit has been doubled compared to buying gold.

Less than a month when Bitcoin hit $60,000, the digital currency set an all-time high when it crossed the $67,000 mark.

After I shared the link to the article above, a friend made a calculation and regretted that earlier this year he used his savings to buy gold. At that time, my friend bought four gold rings for about 9500 USD. At the same time, I bought 0.03 Bitcoin as mentioned.

Calculating, if my friend put all the money to buy gold above to buy Bitcoin, at the same time, he will buy about 0.29 Bitcoin. Now, temporarily with the highest milestone that Bitcoin has reached is 67,778 USD per coin, which is almost double the profit compared to the amount spent buying gold.

We write this post not to encourage anyone to play Bitcoin. The main problem that we want to point out is that, nowadays, the digital currency investment channel, represented by Bitcoin, is much more attractive than other traditional channels such as real estate and gold.

To buy a real estate, a large amount of capital is required. If you do not have a thick capital, of course you have to borrow and pay the principal and interest for many years. During this Covid-19 situation, real estate is still not bright and liquidity is not high.

As for gold, we think it’s just something to anchor the value of labor, to avoid devaluation compared to holding cash. Gold is not an attractive investment channel today when its value increases too slowly. Right now, the price of gold rings of each type 1 that my friend bought has a buying price of 51.85 million dong a tael. Obviously, if you sell, my friend is at a loss, not a profit.