Gold v bitcoin: Goldex CEO and other experts join the debate

Goldex has been at the heart of recent coverage in international media discussing the benefits of investing in gold versus bitcoin in the longer term.

As bitcoin continues to hit new record highs, surpassing the $1 trillion market capitalization mark, investors are speculating whether it can dethrone gold as the ultimate way to preserve wealth.

Until recently, comparing the two assets was unthinkable. Bitcoin, even though dubbed digital gold, was seen as a risky speculative investment, suitable for short-term profits. Gold on the other hand has always been considered as a safe-haven asset. Now, the backing of Bitcoin by large corporations has raised the question whether old assumptions about the two assets are incorrect.  

Our CEO, Sylvia Carrasco, was included in a list of 10 experts with Goldex being featured with the likes of Merrill Lynch, Wirex, and Uphold. The experts were invited to share opinions on whether gold or bitcoin was the best 10-year investment.

Sylvia observed:

“Both Bitcoin and gold enjoyed incredible years in 2020 with gold seeing all-time record prices. The popularity of gold in times of uncertainty is well-documented. Gold has long been considered to be the safe haven asset of choice, and while bitcoin is ‘the new kid on the block, it’s debatable that it will eat into gold’s market share for a number of reasons.

Bitcoin and gold both have significant advantages over fiat currencies because neither can be diluted or debased. Of course, bitcoin is well-known as something is traded electronically. This could have given it the edge, however now even physical gold can be traded electronically.  Goldex, for example, is the first global gold marketplace powered by smart trading technology which allows thousands of transactions per second to be processed. Our thousands of customers, which include both new and seasoned investors, use our mobile app to easily invest in physical gold and get the best price every time, whether they buy or sell.

But is there a threat to bitcoin which gold is immune to? There is a possibility that bitcoin could one day cease to exist through hostile legislation.  Some bitcoin derivatives have already been banned. Companies such as Facebook who have attempted to start crypto have been prevented from doing so.

So, while bitcoin is a more recent form of investment that is certainly receiving a lot of hype, Gold has retained its value through centuries. Whether bitcoin will offer the same level of longevity is highly questionable.”

The panel discussed profitability, longevity, potential legislations and growth opportunities comparing the two assets. The coverage can be read in full below: 

Read the full story here 

Read the story In Portuguese 

Read the story in Greek 

Read the story in Turkish

While you’re here, did you know FinTechs can now offer allocated physical gold?

Unlock the world of allocated physical gold for your customers with Goldex. Through an easy API or FIX integration with the Goldex marketplace, your customers can buy and sell physical gold in a matter of weeks.

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Important disclaimer: this document is not an official research report and the views expressed in it are those of the authors. The authors are not registered research analysts and there is no assurance the trends mentioned will continue or that the forecasts discussed will be realised. Gold as a commodity is not a specified investment for the purpose of giving advice under the Financial Services and Markets Act 2000, therefore, this does not give rise to rights to claim compensation under the Financial Services Compensation Scheme.