Wall Street Journal Highlights Interest in Bitcoin Investments Over Gold
The mainstream media is generally pretty quick to promote a negative view of Bitcoin and its perceived value at any opportunity. One of the more balanced and neutral media outlets overall has been the New York Times, which has its own BitBeat section for Bitcoin news and Paul Vigna providing a balanced commentary. Over the weekend, the Times has seen enough recent demand in Bitcoin information to compare its relative investment value to the gold standard.
“Digital Gold” vs The Real McCoy
Over the last eighteen months, I have written more than once about the value of Bitcoin vs gold, and which one may be a more useable long-term investment. Today, younger investors are seeing Bitcoin as a better hedge against an economy downmarket than gold, as two 25-year olds Bitcoiners were featured. In a more educated, tech-savvy world, Bitcoin may be the choice of a new generation that distrusts governments and central banks with handling major economic issues.
“I like [bitcoin] as a hedge against an economic collapse,” Brian Estes, a venture capitalist in St. Louis, told the New York Times. “Holding the digital currency is like having a hedge against the ATMs and the banking systems not being functional for a while.”