Gold expert Trey Reik considered Bitcoin (BTC) an investment asset and admitted his “jealousy” for not being able to invest.
Gold expert Trey Reik has evaluated Bitcoin for its qualities as an investment asset. The managing member of Bristol Gold Group compared the potential of the first cryptocurrency to compete with gold and clarified the key difference between the two. He noted that Bitcoin tends to be more “speculative” compared to gold.
The analyst reinforced this view with the high cost of Bitcoin, which was the reason for the bearish mood in the market. Reik also touched on the high volatility of the first cryptocurrency and the dependence of Bitcoin prices on tweets from various celebrities such as Elon Musk. The expert also said that he has read numerous surveys where he sees people mostly investing in cryptocurrencies to get rich. According to Reik, they could do the same by investing in gold:
Reik attributed the problem to the difference in investment goals. However, he added that in the long term, gold can be seen as “a tool to preserve value”. According to Reik, gold will continue to be an irreplaceable asset in the next 5-10 years in a low interest rate environment. Bitcoin, on the other hand, is only 12 years old, which makes it difficult to study and analyze.
However, Reik said that he would have invested in the first cryptocurrency if he had the opportunity in the past. He also admitted that he missed the opportunity, so he “feels jealous” for not investing in Bitcoin for the past five years.
Hello there! My name is Oktay from Tokensboss editors. I introduce myself as a business graduate and writer. I have been doing research on cryptocurrencies and new business lines for over 2 years.