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Digital Gold - Why Is Bitcoin Becoming Known As Digital Gold?

Written By Ivan on Tech

Jul 07, 2020

Some people consider Bitcoin the new gold of the digital era. This is because the two share some similarities, which some argue means that Bitcoin is the perfect supplement for gold. However, Bitcoin is strictly digital, while gold is purely analog, so are they really comparable? And is it accurate to call Bitcoin digital gold? 

In this article, we compare the properties of gold and Bitcoin to determine if there are any similarities and if so, what they are. But to start off, we will first explain the properties of gold and the importance that this metal has on the global economy. 

The Importance of Gold

Historically, gold has been the measurement of wealth and value. Gold also plays a significant role in the economy and security of several currencies. 

The gold standard is one example of this where a currency is tied to the value of gold. The gold standard was created during World War ll, where the value of the US dollar was tied to gold. This standard was later...

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