Younger investors tend to choose the cryptocurrency over gold. Cryptocurrency are rapidly becoming the preferred gold alternative for those who do not trust traditional fiduciary currencies.
Damodaran is a specialist in corporate finance and valuation of funds, is often called "the dean of appraisal" on Wall Street.
Because of this, it is interesting his opinion that the cryptocurrency could eventually replace the gold or arise as a legal alternative to the currencies issued by the central authorities.
If you do not trust paper money, historically, what is needed is to avoid paper money and exchange it for gold. Cryptocurrency have taken the role of gold, at least for younger investors, because they do not trust paper money.
One of the most important investors in the precious metals trade, a few months ago, he commented that in the face of an a market crash, it is better to have Bitcoin thus reinforcing the confidence of those who rely more on the new alternatives than on the Traditional gold.
Bitcoin, since March, has been trading above the value of gold. What's more, a long-term investment by Bitcoin is more profitable than a gold investment.
If the gold will be completely displaced in favor of the Bitcoin, it is something that will have to wait. Meanwhile, the price of Bitcoin remains relatively stable, it will become increasingly difficult to have "new" Bitcoins due increasing mining difficulty.
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