The Royal Mint Cryptocurrency

The royal mint cryptocurrency

The royal mint cryptocurrency

According to a World Gold Council report this month, purchases by central banks at the beginning of 2019 were at their highest in six years, as countries diversified away from the dollar. China & Russia are amongst the largest purchasers of gold, and the WGC expects this momentum to continue, with central banks predicted to buy between 500 – 600 tonnes this year.

Gold is therefore far from outdated.

Is gold inflated?

The graph below highlights the price of gold compared to Bitcoin between 2011 – 2019.

The royal mint cryptocurrency

We can clearly see that between the two investment options, gold is the store of value and Bitcoin is volatile.

Over thousands of years, gold has proved itself to be the ultimate store of value against other currencies. Bitcoin is yet to be tested. Furthermore, the supply of gold is limited, reinforcing its store of value. In contrast, in recent years we have seen the launch of an endless supply of other cryptocurrencies.

UK’s Royal Mint Launches Gold-Backed Cryptocurrency