Rising gold value - will it reduce Bitcoin's attractiveness ?

[Marvell1]

Now, I do not agree with the opposite thesis, most famously held by Michael Saylor, that bitcoin will come to decapitalize the entire gold market. There is an ancient tradition of gold, and it is also used in jewelry and industry. Investment gold, the kind you buy bars of and keep in a safe, is a minority use, and I think it can be quite decapitalized, but not the rest.

But so far that has not happened, if I remember correctly, a few years ago the capitalization of gold was 15 trillion but now the capitalization of gold has increased to more than 16 trillion. The increase in gold capitalization could be due to the increase in price as we have seen and most likely due to the increase in supply, as countries are still mining gold non-stop. Meanwhile, bitcoin's market capitalization has remained above $1 trillion to date.

Many people will say that bitcoin's capitalization will soon surpass gold but I doubt it and I don't think it will happen anytime soon. Apart from being an investment, store of value and safe haven, gold is widely used in most industries while bitcoin is only used as an asset. The demand for gold will still be much larger than bitcoin, which is why I don't think bitcoin will come to decapitalize the entire gold market or surpass gold in terms of capitalization.

[Yatsan]

Gold prices have reached a new record above $2,500 per ounce. Investors expect that gold prices may rise further. Since the beginning of the year, the price of gold has risen by 20% and could reach $2,700 per ounce by the end of this year (2024).

At the same time, we must take into account the unstable state of the global economy, we can assume that investors will continue to invest in gold to the detriment of investments in cryptocurrency and specifically bitcoin.

What is your opinion on this issue ?

The price of gold recently breached $2,500 an ounce, boosting investor confidence against the backdrop of a slowing global economy. It is generally considered a stable and secure asset, so it could quite easily be worth $2,700 an ounce or more toward the end of 2024. Since gold can be used as an excellent hedge against financial instability due to its stability, interest in digital assets like cryptocurrencies remains quite high given their ability to yield such a great return on investment and their potential for technological growth. Hence, in choosing investments, investors have to set off against the stability offered by gold with the prospects offered by digital assets.

[kryptqnick]

That's a difficult question to answer. Over the years of Bitcoin existence, its long-term growth was incomparably higher than that of gold. So gold was kind of a safe option with lower profit, and Bitcoin was a riskier option with much higher profit. But things might be different with Bitcoin now, considering how mild its growth was from 2021 to 2024. Maybe we'll see another bull run, showing that Bitcoin is still a much more profitable option. But maybe not, and then gold will indeed be a very attractive option to many investors.

[lixer]

I agree with most of the answers, which are logical in a forum like this, bitcoin forum. Gold appreciation will not reduce the attractiveness of bitcoin.

Now, I do not agree with the opposite thesis, most famously held by Michael Saylor, that bitcoin will come to decapitalize the entire gold market. There is an ancient tradition of gold, and it is also used in jewelry and industry. Investment gold, the kind you buy bars of and keep in a safe, is a minority use, and I think it can be quite decapitalized, but not the rest.

Everyone is having his own views about these things but still we have to understand these are having own pros and negs as well with Gold is going high, but we are having nothing new it's going for years as it's demand is still on high with bitcoin is having own charm and now someone having love with bitcoin he is not going to accept any other thing because it's running in his blood, and now it's spreading with time.

Increase in price of Gold is surely having no impact on Bitcoin with same happening for the Bitcoin because both are doing drastically and things will be stayed on best level for them, we are having too much use of Gold in jewellery, and it's not going to have cu with surely bitcoin will be having upper hand, but things will be in well-balanced for them and both going to stay in touch for years.

[Oluwa-btc]

Gold prices have reached a new record above $2,500 per ounce. Investors expect that gold prices may rise further. Since the beginning of the year, the price of gold has risen by 20% and could reach $2,700 per ounce by the end of this year (2024).

At the same time, we must take into account the unstable state of the global economy, we can assume that investors will continue to invest in gold to the detriment of investments in cryptocurrency and specifically bitcoin.

What is your opinion on this issue ?

If you compare the price of Bitcoin this year that has tremendously increased,it's not equivalent to the price of Gold which makes Bitcoin more unique and thus will not reduce it's attractiveness rather it'll shine more.

Tho alot of people prefer investing in Gold than Blockchain cause they see it as being natural and with the unstable state of the economy and the world today I think Gold and Bitcoin are playing very significant roles and with time  investors would discover the need to invest in cryptocurrency than Gold.

[CK485]

Everyone is having his own views about these things but still we have to understand these are having own pros and negs as well with Gold is going high, but we are having nothing new it's going for years as it's demand is still on high with bitcoin is having own charm and now someone having love with bitcoin he is not going to accept any other thing because it's running in his blood, and now it's spreading with time.

Increase in price of Gold is surely having no impact on Bitcoin with same happening for the Bitcoin because both are doing drastically and things will be stayed on best level for them, we are having too much use of Gold in jewellery, and it's not going to have cu with surely bitcoin will be having upper hand, but things will be in well-balanced for them and both going to stay in touch for years.

to see the usefulness and value of the price between bitcoin and gold, with these assets considered to be in great demand at the moment, depending on the people who have and see the usefulness, because between the two, there are advantages and that is certain, depending on the views of each individual to feel the benefits because both are equally important.

[philipma1957]

Gold prices have reached a new record above $2,500 per ounce. Investors expect that gold prices may rise further. Since the beginning of the year, the price of gold has risen by 20% and could reach $2,700 per ounce by the end of this year (2024).

At the same time, we must take into account the unstable state of the global economy, we can assume that investors will continue to invest in gold to the detriment of investments in cryptocurrency and specifically bitcoin.

What is your opinion on this issue ?

well btc has a weakness that gold does not.
btc must have mining and a lot of it.
if mining drops a ton btc may drop in price
we saw this in spring of 2021.

so the already mined btc still needs mining to work.
old gold on the other hand does not need constant mining of new gold to stay valuable.
so one can argue gold is far safer.

not sure what will happen in 30 years time. but gold may keep is value better than btc

[wahyuagung26]

What is your opinion on this issue ?

 It seems that this does not really reduce the appeal of Bitcoin from the perspective of an Investor, both have very good things for each Investor but we think Bitcoin has a much higher value than gold, even though Bitcoin is currently in decline and the value obtained is still holding and continues to rise slowly, we think this does not tend to reduce the appeal of Bitcoin.

[DrBeer]

Gold prices have reached a new record above $2,500 per ounce. Investors expect that gold prices may rise further. Since the beginning of the year, the price of gold has risen by 20% and could reach $2,700 per ounce by the end of this year (2024).

At the same time, we must take into account the unstable state of the global economy, we can assume that investors will continue to invest in gold to the detriment of investments in cryptocurrency and specifically bitcoin.

What is your opinion on this issue ?

well btc has a weakness that gold does not.
btc must have mining and a lot of it.
if mining drops a ton btc may drop in price
we saw this in spring of 2021.

so the already mined btc still needs mining to work.
old gold on the other hand does not need constant mining of new gold to stay valuable.
so one can argue gold is far safer.

not sure what will happen in 30 years time. but gold may keep is value better than btc

Always nice to hear your, philipma1957, reasoned opinion !
Yes, bitcoin is not a perfect asset and it objectively has both advantages and disadvantages ! And one should be pragmatic and realistic to understand the risks, and not live in “pink fantasies”, as many people do.
And as a result - yes, as long as bitcoin has no official global recognition as a real, secured asset, it will be subject to some problems, unlike the “classic” asset, in the form of gold.
But my personal opinion and my concept is that bitcoin should be accumulated now, for the future, because I believe that bitcoin will still get the status I mentioned above. Even if I don't manage to take advantage of bitcoin, my children or grandchildren will be able to take advantage of it with high probability .

[philipma1957]

Gold prices have reached a new record above $2,500 per ounce. Investors expect that gold prices may rise further. Since the beginning of the year, the price of gold has risen by 20% and could reach $2,700 per ounce by the end of this year (2024).

At the same time, we must take into account the unstable state of the global economy, we can assume that investors will continue to invest in gold to the detriment of investments in cryptocurrency and specifically bitcoin.

What is your opinion on this issue ?

well btc has a weakness that gold does not.
btc must have mining and a lot of it.
if mining drops a ton btc may drop in price
we saw this in spring of 2021.

so the already mined btc still needs mining to work.
old gold on the other hand does not need constant mining of new gold to stay valuable.
so one can argue gold is far safer.

not sure what will happen in 30 years time. but gold may keep is value better than btc

Always nice to hear your, philipma1957, reasoned opinion !
Yes, bitcoin is not a perfect asset and it objectively has both advantages and disadvantages ! And one should be pragmatic and realistic to understand the risks, and not live in “pink fantasies”, as many people do.
And as a result - yes, as long as bitcoin has no official global recognition as a real, secured asset, it will be subject to some problems, unlike the “classic” asset, in the form of gold.
But my personal opinion and my concept is that bitcoin should be accumulated now, for the future, because I believe that bitcoin will still get the status I mentioned above. Even if I don't manage to take advantage of bitcoin, my children or grandchildren will be able to take advantage of it with high probability .

Since I am older ( 67 j and my kids all died via miscarriages hodl hodl hodl has less appeal to me.

I just got a new leased hyundai sonata hybrid. I cash some of my coin to put down around 12 k maling me have smaller payments for next three years.

I still have more btc and I hodl it. I still mine but way less. I have more silver than gold.

I have lived an easier life with btc than I would of with out it.

[reagansimms]

Gold prices have reached a new record above $2,500 per ounce. Investors expect that gold prices may rise further. Since the beginning of the year, the price of gold has risen by 20% and could reach $2,700 per ounce by the end of this year (2024).

At the same time, we must take into account the unstable state of the global economy, we can assume that investors will continue to invest in gold to the detriment of investments in cryptocurrency and specifically bitcoin.

What is your opinion on this issue ?

Gold has been recognized as one of the profitable investments, especially when the global economic conditions are very unstable, even though gold has existed for centuries, investors still dare to sell gold to buy Bitcoin. Bitcoin's continued growth makes it the most sought-after investment today because its long-term percentage increase is much greater than gold.
Patience in investing will drop the direction in the future, Bitcoin has grown so fast and its price increase in the long term has given investors many times the profit. Gold is still considered a good investment, but Bitcoin is still highly sought after by investors because of the huge potential it generates in the long term.

[Fortify]

Gold prices have reached a new record above $2,500 per ounce. Investors expect that gold prices may rise further. Since the beginning of the year, the price of gold has risen by 20% and could reach $2,700 per ounce by the end of this year (2024).

At the same time, we must take into account the unstable state of the global economy, we can assume that investors will continue to invest in gold to the detriment of investments in cryptocurrency and specifically bitcoin.

What is your opinion on this issue ?

You should be fearful of investing in anything that is near record highs and anyone who has been investing for a while will have seen many graphs that have spikes. At this point there is more chance of it going back down again than there is of it continuing to rise, it's in new territory which means a lot of uncertainty. Over the long term it seems to be on a steady trajectory so you are unlikely to lose money if your plan is to hold for 20 years. However short term there is much higher risk, as the market could take a hit for any number of reasons in this volatile world. Crypto is a lot more liquid, so is better suited to many investors.

[DrBeer]

Gold prices have reached a new record above $2,500 per ounce. Investors expect that gold prices may rise further. Since the beginning of the year, the price of gold has risen by 20% and could reach $2,700 per ounce by the end of this year (2024).

At the same time, we must take into account the unstable state of the global economy, we can assume that investors will continue to invest in gold to the detriment of investments in cryptocurrency and specifically bitcoin.

What is your opinion on this issue ?

You should be fearful of investing in anything that is near record highs and anyone who has been investing for a while will have seen many graphs that have spikes. At this point there is more chance of it going back down again than there is of it continuing to rise, it's in new territory which means a lot of uncertainty. Over the long term it seems to be on a steady trajectory so you are unlikely to lose money if your plan is to hold for 20 years. However short term there is much higher risk, as the market could take a hit for any number of reasons in this volatile world. Crypto is a lot more liquid, so is better suited to many investors.

Here I would add some clarifications:
1. It is necessary to understand the reasons for the growth, in order to understand whether it is already a peak or it is still a growth process.
2. liquidity is good, but the volatility of cryptocurrencies can create a lot of negatives for a highly liquid asset

[mirakal]

Gold prices have reached a new record above $2,500 per ounce. Investors expect that gold prices may rise further. Since the beginning of the year, the price of gold has risen by 20% and could reach $2,700 per ounce by the end of this year (2024).

At the same time, we must take into account the unstable state of the global economy, we can assume that investors will continue to invest in gold to the detriment of investments in cryptocurrency and specifically bitcoin.

What is your opinion on this issue ?

It is common for people to invest in safe-haven assets such as gold during inflation and increases in interest rates. In this time of economic uncertainties, investors tend to invest carefully and also avoid taking risks. So it is not surprising the gold price has continually appreciated since this year.

But it doesn't mean that it will greatly affect investment in Bitcoin since both sectors have their separate markets. Gold is usually favoured by Generation X  and Baby Boomers, while Millennials and Generation Z will prefer to invest in Bitcoin. But investment in Bitcoin will increase immediately the economy begins to recover maybe later this year.

The rise of gold could also mean the rise of other investments and that includes bitcoin. So if we are seeing gold price increase these days, bitcoin on the other hand is also experiencing the same. It’s just that gold has a certain, fixed value that will most likely increase in time, while bitcoin is highly volatile that could show price skyrocketing in an instant and would later on experience a huge price drop in just a blink of an eye.

So if you are a high risk-taker, bitcoin will satisfy you with its highly unpredictable price, that you could turn into a millionaire all of a sudden. So I don’t think bitcoin will reduce its attractiveness as there will always be people who want high risk investments with high rewards as well.

[o48o]

Gold prices have reached a new record above $2,500 per ounce. Investors expect that gold prices may rise further. Since the beginning of the year, the price of gold has risen by 20% and could reach $2,700 per ounce by the end of this year (2024).

At the same time, we must take into account the unstable state of the global economy, we can assume that investors will continue to invest in gold to the detriment of investments in cryptocurrency and specifically bitcoin.

What is your opinion on this issue ?

But why would this affect to bitcoin? DAW jones is all time high too, and compared to gold and btc, stocks at least are paying dividends, so if anything is reducing btc attractiveness i would say it's stocks. If you think that people are only buying bitcoin because it could moon, then i would understand your point because stocks and gold are mooning, but imho bitcoin and other cryptos have lots of idealist investors and they aren't looking at the current price trends

[DrBeer]

Gold prices have reached a new record above $2,500 per ounce. Investors expect that gold prices may rise further. Since the beginning of the year, the price of gold has risen by 20% and could reach $2,700 per ounce by the end of this year (2024).

At the same time, we must take into account the unstable state of the global economy, we can assume that investors will continue to invest in gold to the detriment of investments in cryptocurrency and specifically bitcoin.

What is your opinion on this issue ?

But why this affect to bitcoin? DAW jones is all time high too, and compared to gold and btc, stocks at least are paying dividends, so if anything is reducing btc attractiveness i would say it's stocks. If you think that people are only buying bitcoin because it could moon, then i would understand your point because stocks and gold are mooning, but imho bitcoin and other cryptos have lots of idealist investors and they aren't looking at the current price trends

The issue should be considered comprehensively, and I pointed out possible reasons - destabilization of the situation in the world and the global economy. This will divert attention away from virtual assets and shift attention to the “centuries-old classics” in the form of physical assets. In my opinion, this can happen. Although it may “help” bitcoin investors to buy additional volumes of bitcoin at a lower price

[N.O]

Gold prices have reached a new record above $2,500 per ounce. Investors expect that gold prices may rise further. Since the beginning of the year, the price of gold has risen by 20% and could reach $2,700 per ounce by the end of this year (2024).

At the same time, we must take into account the unstable state of the global economy, we can assume that investors will continue to invest in gold to the detriment of investments in cryptocurrency and specifically bitcoin.

What is your opinion on this issue ?

But why would this affect to bitcoin? DAW jones is all time high too, and compared to gold and btc, stocks at least are paying dividends, so if anything is reducing btc attractiveness i would say it's stocks. If you think that people are only buying bitcoin because it could moon, then i would understand your point because stocks and gold are mooning, but imho bitcoin and other cryptos have lots of idealist investors and they aren't looking at the current price trends

I think cryptocurrency has good scope and good value on International level and now youngers are getting knowledge of Bitcoin and cryptocurrency because cryptocurrency has power to change the situation of poor people and poor people should invest 2 percent of their wealth in cryptocurrency. They can lose their money but they have a chance to become a millionaire and billionaires because no investment can become rich person speedly as comparison to cryptocurrency. Gold is risky if someone has no knowledge of market and he is investing in stocks of gold because everytime , market goes up and down and man can lose his money and his account could be Wash.

[DrBeer]

Gold prices have reached a new record above $2,500 per ounce. Investors expect that gold prices may rise further. Since the beginning of the year, the price of gold has risen by 20% and could reach $2,700 per ounce by the end of this year (2024).

At the same time, we must take into account the unstable state of the global economy, we can assume that investors will continue to invest in gold to the detriment of investments in cryptocurrency and specifically bitcoin.

What is your opinion on this issue ?

The price of gold recently breached $2,500 an ounce, boosting investor confidence against the backdrop of a slowing global economy. It is generally considered a stable and secure asset, so it could quite easily be worth $2,700 an ounce or more toward the end of 2024. Since gold can be used as an excellent hedge against financial instability due to its stability, interest in digital assets like cryptocurrencies remains quite high given their ability to yield such a great return on investment and their potential for technological growth. Hence, in choosing investments, investors have to set off against the stability offered by gold with the prospects offered by digital assets.

Judging by the gold price chart - the trend has started to change, due to the growth of the dollar value. And the price expectedly went down.... It should be taken into account that one of the main consumers of gold, at least at the official level since 2021, China, began to receive in payment for their goods from Russia ... The reason is trivial - the risks of Western sanctions forced China to block settlements in yuan with Russia, as its raw materials appendage is critically dependent on goods from China. And in this situation Russia will be ready to pay whatever China wants. Now the question is why would China buy gold for its currency (which China is woefully short of) when Russia will give it back at a much lower price and in large quantities? Most likely, we will continue to see a decline in gold prices....

[coolcoinz]

That's a difficult question to answer. Over the years of Bitcoin existence, its long-term growth was incomparably higher than that of gold. So gold was kind of a safe option with lower profit, and Bitcoin was a riskier option with much higher profit. But things might be different with Bitcoin now, considering how mild its growth was from 2021 to 2024. Maybe we'll see another bull run, showing that Bitcoin is still a much more profitable option. But maybe not, and then gold will indeed be a very attractive option to many investors.

Not that difficult. Gold has a different client-base. It's rare for gold bugs to hold bitcoin.

People who already have gold will keep buying gold, or taking profits and buying stuff.
People who have bitcoin will not dump it when it's low just to buy gold that spiked up. That would be stupid.

The only people that could be affected by this are those who are in fiat, losing 5% a year to inflation, thinking if they should get bitcoin or gold. The problem is that if bitcoin goes down and gold up, like it did recently, it's more profitable to buy bitcoin.

[mindrust]

That's a difficult question to answer. Over the years of Bitcoin existence, its long-term growth was incomparably higher than that of gold. So gold was kind of a safe option with lower profit, and Bitcoin was a riskier option with much higher profit. But things might be different with Bitcoin now, considering how mild its growth was from 2021 to 2024. Maybe we'll see another bull run, showing that Bitcoin is still a much more profitable option. But maybe not, and then gold will indeed be a very attractive option to many investors.

Not that difficult. Gold has a different client-base. It's rare for gold bugs to hold bitcoin.

People who already have gold will keep buying gold, or taking profits and buying stuff.
People who have bitcoin will not dump it when it's low just to buy gold that spiked up. That would be stupid.

The only people that could be affected by this are those who are in fiat, losing 5% a year to inflation, thinking if they should get bitcoin or gold. The problem is that if bitcoin goes down and gold up, like it did recently, it's more profitable to buy bitcoin.

I don't think that's the case. Gold bugs and bitcoin people have many common beliefs. Both hate the FED, both think this current financial system is not sustainable and bound to fail, both say FIAT shouldn't be printed recklessly out of thin air... There are probably other similarities which I can't think of right now.

It is just some gold people don't see btc as a viable alternative to FIAT and it is OK. Some bitcoin people don't like gold and they think it is just another dumb metal or yellow dirt and that's OK too but these people are the minority. The majority who like btc or gold the most, the chances are they probably hold the other asset too. Maybe a lot less than their favorite asset but they do, in case they were wrong about their original choice.