Bitcoin vs. Gold: Winklevoss twins fear gold devaluation through space mining

When it comes to a good store of value, gold has been the number one choice for millennia. Due to its natural scarcity, the precious metal is ideally suited to maintain its value over the long term. This is precisely why it is very popular with investors in times of crisis to protect themselves against uncertainty in the financial markets and, for example, increased inflation. In the wake of the corona crisis in particular, these properties are more in demand than ever. This is shown not least in the fact that gold has been around 28% up since the beginning of the year. But in recent years the precious metal has been facing competition from its digital rival: Bitcoin.

Used as a store of value
Even if Bitcoin is currently used less as a store of value and more as an object of speculation, in theory BTC fulfills the characteristics to become the gold of the Internet or, in general, digital gold in the long term. Especially in the course of globalization and digitization, BTC has a clear lead here, in order to possibly overtake gold in the distant future. One thing that could accelerate this development is so-called “space mining”. This means the mining of raw materials on asteroids, which could then be transported to Earth. Precisely on this aspect in the race “Bitcoin vs. Gold ”we want to go into this article based on an interview with the famous Winklevoss twins.