Head of the investment Department of the world’s largest gold mining company Barrick Gold Katherine Rowe believes that cryptocurrencies will not be able to compete with gold in the future. She stated this at the international summit of Fortune’s Most Powerful Women. Note that Bitcoin is often awarded the title of “digital gold” because of the nature of its limited number and fixed the issue. After all, the world will not be more than 21 million BTC.
Tonight BTC is trading at 10 041 dollar. For the past day the price of the key digital asset fell by almost 1.75 percent, while it is 67.2 percent of the total capitalization of the industry.
Gold will always be the price
Rowe tried to make a prediction of the price of the precious metal — in her words, gold will always be one of the most valuable resources of humanity.
The tangibility of gold, which is why it holds a special place in history. Gold will always be appreciated. I don’t know what will be its price in the future, but she never falls to zero. But the cryptocurrency may fully depreciate.
In addition to finances, a large demand for gold is ensured by the creation of jewelry and metal use in electronics. Arguments row is quite logical — even if large investors and will trust Bitcoin, gold will always be a buyer. In addition, the expert acknowledged that “the phenomenon of the cryptocurrencies are unlikely to sink into oblivion”.
In Barrick Gold hope to attract young investors from age 20 to 40 years. The investment Department aware of the latest trends — they admit that the younger generation prefers to invest in the crypt, and gold is associated with "grumpy old men who are afraid of the world." It's funny, but in most cases the way it looks. So I wonder over whether the attempt was a success.
What would you rather have — gold bars or a lot of bitcoins? Share your opinion in our cryptodata millionaires!
SUBSCRIBE TO OUR CHANNEL IN THE TELEGRAM. THERE’S MORE INTERESTING NEWS.