Investors began to pay more attention to Bitcoin as a value storage and against inflation. Just like with gold.
Let’s take a look at why investors have changed their opinion about Bitcoin.
Vaccine did not compromise Bitcoin’s value either
Bitcoin has been considered as digital gold for a long time. Mainly due to its limited supply (only 21 million) and the option to use it as a store of value, outside of the traditional banks. In addition, it acts as a protection against inflation. People invested in both assets during the pandemic for the above reasons. Both gold and Bitcoin are known for their properties and both assets have increased in value. Gold by 22% and Bitcoin by 144%. Both assets benefit from monetary policy forcing states to raise inflation to curb the impact of the pandemic.
Even the news that we have COVID-19 vaccine at our fingertips did not mean a significant drop for Bitcoin. On the contrary, the cryptocurrency gained 25%, on the other hand gold fell by 1%. For gold, this report meant that investors found the courage to invest in riskier assets, which include cryptocurrencies. However, cryptocurrencies are very attractive to investors mainly because of the preservation of value that Bitcoin and other cryptocurrencies provide.
A future without worries
Cryptocurrencies that maintain their value and can be used in many ways include also our PlatonCoin (PLTC). At Platon Finance, we strive for an ecosystem that will bring you a better future in finance. There is no need to worry about paying and using finances, because with PlatonCoin you can pay absolutely securely with many partners. You can see here the list of shops, where you can use PlatonCoin.
The financial system, in which we currently live, is not secure and is certainly not built for the future to which, as humanity, we are heading. Cryptocurrencies have given us a choice of what future we envision. Our vision is to achieve that future. Try paying differently, try paying with PlatonCoin.