The Startup Info Team made a great comparison of Bitcoin and gold. They established that for over the past 11 years since Bitcoin, the first cryptocurrency, was invented, it has portrayed similar gold-like characteristics:
🔸 Bitcoin’s structure limits its supply and makes mining more difficult with time like that of gold.
🔸 Cryptocurrency mining demands a lot in terms of energy resources and computers for miners to obtain rewards. It has become increasingly hard to mine Bitcoins individually, just like gold mining conglomerates pushed aside single prospectors.
🔸 Once mined, it serves similar purposes to gold; store of value, probable hedge against inflation, asset diversification source, and independence from political manipulation.
The market is still young, but soon these digital currencies will become part of our lives.Â