Remember that ancient expression “ All That Glisters Is Not Gold “?
Probably not, since ‘Glisters’ morphed into ‘Glitters’ in modern renditions of William Shakespeare’s play, The Merchant of Venice.
Were Bitcoin around during those times, would Shakespeare have said, instead:
“All That Glisters is Not Bitcoin”?
Probably so, because Bitcoin, just like on March the 2nd, 2017, would have been more valuable than Gold!
Oh, that’s just silly, isn’t it! Bitcoin doesn’t glister or glitter anyway – you can’t even see it because it’s just a digital record spread all over the internet! The whole play would have had to be written around cryptocurrencies – imagine that!
But I got your attention, I hope.
For the first time in history, 1 ounce of Gold has been surpassed in purchasing power by 1 bitcoin.
Mike Maloney , author of the world’s #1 best selling book ‘Guide To Investing In Gold & Silver’ believes that this is very significant for everyone in the world – not just digital bitcoin and cryptocurrency advocates. He believes that cryptocurrencies are looking like the ‘future of money’.
Fiat currencies, on the other hand are treated as money but really are not. They are designed to lose their value and purchasing power as more and more ‘fiats’ are introduced into the ‘money’ supply. This is simply evidenced by the ever increasing prices of commodities that are exchanged for those currencies.
The supply of bitcoin is limited to about 21 million and is designed to never be increased.
There are all kinds of forecasts of the rapid growth of bitcoin value over the next few months and years.
Investors and currency traders would be very wise to look into including this cryptocurrency in their portfolios of diversified assets to take advantage of both the value and the volatility of bitcoin as it becomes the real ‘future of money’.
Great take on this historic event in the changing world of financial technology, Mike. Thank you.