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Granted, cryptocurrencies have had a great year, too.
As of Aug. 20, Bitcoin is up 133% over the last 12 months, perForbes.
Which is the better investment?
Consider these reasons to stick with the yellow metal over speculating on crypto.
It crosses cultures and continents.
The Incans valued gold as precious long before the Spanish showed up looking for it.
The same goes for virtually every civilization in world history.
Bitcoin has barely been around for 15 years, created in 2009.
Which is precisely why investors flock to gold when the world turns upside down.
Its held as an assumed truth among investors, and backed up by reputable studies as well, asScienceDirectdetailed.
Gold remains the ultimate safe haven asset.
When you store your metal in a gold storage facility, your deposits are typically insured.
The price of gold rose.
It doesnt pay interest, or dividends, or rents or income of any kind.
That has started to change.
Owners get paid interest in gold.
That changes the entire conversation around gold, from price speculation alone to its ability to generate real revenue.
Greater Utility
As touched on above, gold has uses in the real world.
It doesnt just sit there in a vault and look pretty.
To begin with, people use it as actual currency.
Governments mint coins with it.
In other words, it has intrinsic value outside of a safe haven investment.
Critics argue that cryptocurrencies have little intrinsic utility outside of digital transfers and speculative investments.
Do you know what will certainly still have value?
That doesnt necessarily mean gold will beatmore traditional investmentslike stocks or private equity real estate.
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