NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Bitcoin Price Slips Below $108,000: Peter Schiff Anticipates ‘Brutal’ Bear Market, CZ Responds
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Bitcoin Price Slips Below $108,000: Peter Schiff Anticipates ‘Brutal’ Bear Market, CZ Responds

Bullish for Bitcoin? World Gold Council Report Shows 61% Trust Hard Money Over Fiat

Rick Delafont
Rick Delafont
1 year ago
3 mins read
bitcoin gold crypto fractal

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

A new report by the World Gold Council shows that there is global demand for harder forms of money than fiat currencies. Such demand points to a bright future for Bitcoin given that it represents an even harder form of money than the precious metal.

A total of 61 percent of those surveyed in the report said that they trusted gold more than they did fiat currencies. Historically favoured for its somewhat limited supply, the only thing going for gold and not Bitcoin is time.

WGC Report Shows Wide Understanding of Fiat’s Shortcomings, Bitcoin set to Benefit (Eventually)

The recent World Gold Council report asked 18,000 individuals from around the world for their investment preferences. It shows that gold remains one of the most popular forms of investment globally. Savings accounts are by far the most popular, with life insurance next, and gold in third place.

64% of people who have invested in gold in the past – be that jewellery, bars and coins or ETFs – would definitely buy again in the future. Find out more in #Retailgoldinsights: https://t.co/cjwr9hmshI pic.twitter.com/jNSo6HP8oO

— World Gold Council (@GOLDCOUNCIL) November 13, 2019

Cryptocurrencies, like Bitcoin, remain way down the list in 10th position.

Although it is still much too early in the Bitcoin story to expect the masses to suddenly believe in it as a long-term store-of-value, the conclusions drawn by the WGC report show that there is a reasonably high level of distrust of fiat currency around the world.

A total of 61 percent of those asked said that they trusted the precious metal more than they did any national currency. Meanwhile, 67 percent said that they believed gold to be a good safeguard against inflation of currency instability.

Although the analogy between gold and Bitcoin has been repeated many times before, it still rings true. For the same reasons gold has historically made a better form of money than the paper money prevalent today, Bitcoin represents an even harder form of money still.

Gold found its use as a monetary unit thanks to its scarcity and how difficult it is to forge. However, recent scientific evidence suggests that gold is nowhere near as scarce as once thought. There are huge reserves of it within the earth itself, as well as out in space. Once mining or space exploration allows the tapping of these resources, the overall supply of gold will suddenly increase massively. It seems highly doubtful that its demand for jewellery making, so often highlighted by gold bugs as providing its “inherent value”, could absorb such a sudden growth of supply.

With Bitcoin, there will only be 21 million units and no more. This fact alone makes it a harder form of money than gold. Then there are its advantages when it comes to both storage and transportation. You don’t need a guarded vault to keep Bitcoin safe and it can travel the world very quickly.

The one thing that Bitcoin does lack when compared to gold is history. However, this could change quicker than many people think. If it’s to succeed as a digital form of gold, it won’t take thousands of it do it. Already, every child below the age of 10 has never known a world without Bitcoin. In another ten years, every individual under 20 will be in the same position. Bitcoin just needs to continue doing what it’s doing and it will naturally become more trusted. Meanwhile, constant examples of both the control banks wield over their customers and the often-reckless monetary policies of world governments will continue to ensure there is a demand for hard forms of money.

 

Related Reading: Peter Schiff Fires Back After Facebook Crypto Head Calls Bitcoin “Digital Gold”

Featured Image from Shutterstock.
Tweet123Share571ShareSend
Rick Delafont
Rick Delafont

Rick Delafont

Based in Europe, Rick has written about the cryptocurrency industry since 2016. He was first drawn to Bitcoin as a means of payment but quickly became fascinated by its wider potential implications. His interests lie in the political, economic, and social impact of the unfolding digital asset revolution.

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

你的真實比特幣區塊中獎幾率 虛擬迷因幣挖礦或是更聰明的押注

隨著越來越多的工業級玩家加入比特幣(BTC)挖礦賽道,如今的挖礦領域早已不是12至15年前散戶還能輕鬆參與的競技場。用普通筆記型電腦挖比特幣的時代早已成為歷史,就像在AI驅動的電動車時代調校化油器引擎...

newsbtc 1 hour ago
Bitcoin

Bitcoin Buy Signal: Why The 200-Week Moving Average Has Been A Flawless Entry Point

The 200-week moving average is one of the most critical macro indicators for Bitcoin, serving as the definitive divide between...

Godspower Owie 2 hours ago
Bitcoin news

Bitcoin Fate Sealed By October 31? Analyst Says The Clock Is Ticking

Bitcoin slipped below three-day Ichimoku cloud support on Wednesday, prompting market technician Dr Cat (@DoctorCatX) to flag the first decisive...

Jake Simmons 3 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

Bitcoin Price Dips Deeper Into Red

Bitcoin Price Dips Deeper Into Red — Traders Eye Next Support Near $105,500

Aayush Jindal 11 minutes ago
Bitcoin Whales & Sharks

Bitcoin Back Under $111,000 As Key Holders Shed 17,500 BTC

Keshav Verma 31 minutes ago
ripple_xrp_xrpusd_optimized

XRP Faces Sharp Decline Amid Liquidations, But Pundits Say “This Week Changes Everything”

James Halver 1 hour ago

Premium Sponsors

Press Releases

  • ドージコイン 今後の価格予測:強気ダイバージェンスが示す新たな上昇のチャンス

    ドージコイン...

    11 hours ago
  • リップル 今後の見通し:6,300万ドルの売却が発生も、賢い投資家はすでに買い増し開始

    リップル...

    11 hours ago
  • 仮想通貨プレセールで2,380万ドル超を調達した新プロジェクト、次に爆発的成長を遂げる可能性も

    ...

    11 hours ago
  • 仮想通貨おすすめ:市場暴落からの回復に苦戦する中で今注目すべき銘柄

    ...

    12 hours ago
  • イーロン・マスクがドージコインの“エネルギー”を強調、新しい仮想通貨がさらに注目を集める

    ...

    12 hours ago

Newsletter

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.