In the battle between the tangible and the intangible, rational individuals still prefer the tangible. That is why gold is strongly rooted in people’s financial portfolio and mind, while the foundation of cryptocurrencies is shaky at best.
Gold is a noble metal. It is inert in nature. Gold can be touched, felt, shaped, divided, preserved, transported, and displayed. Of course, gold can be traded.
Over the last several years, cryptocurrencies have received a lot of attention. For some, exploring cryptocurrencies has become a newfound hobby. Many have emerged as enthusiasts, and even as experts, to speak before a seemingly curious audience about the benefits of cryptocurrencies.
Online materials—blogs, videos, and podcasts—push people towards dipping their toes in the river of cryptocurrencies. Success stories, glittery photos of wealthy crypto traders, and the promises of a glamorous life entice people toward cryptocurrencies. Many not only dip their toes, but dive in fully to experience crypto’s depths.
Some people invest in cryptocurrencies, not fully knowing what these are. Many are tempted to pour their savings into this cryptic world of cryptocurrencies, not understanding the risks. Hard-earned money gets converted to “currencies” that people can neither see nor touch.
After all, some believe that self-proclaimed finance gurus cannot be wrong. Add to that the mention of cryptocurrencies in mainstream media, building people’s confidence about this seemingly lucrative source of income and wealth.
There is nothing wrong with the desire to be financially better-off or to see one’s wealth grow exponentially. To want to be rich is a rational human thought.
As people look for ways to achieve their financial goals, cryptocurrencies seem to present a way to move from the status quo to the desired state of prosperity.
But one must never forget that managing personal finance is not just about growth, but also about preserving value and insulating oneself from risks. It is about putting one’s confidence in an asset that is worthy of trust.
Gold has stood the test of time. Gold has been cherished and treasured by various people all over the world for thousands of years. Gold has been used in transactions, worship, honoring the deceased, giving gifts, and more.
Gold has been owned by emperors and rulers, held by governments, bought and sold in the open market by the general people, and coveted by all those looking for a timeless way to maintain and grow the value of one’s assets.
Currencies can rise and fall, but people’s faith in gold remains.
Even in this day and age, when many have been affected by the cryptocurrency craze, gold remains a reliable store of value. Gold is tangible, transferable, and nonperishable.
The rising curiosity regarding cryptocurrencies is a sign of the upcoming Age of Aquarius.
Just as radio, phone, calendar, voice recorder, music player, camera, photo album, notepad, map, etc., have all been consolidated into a smartphone, the concept of money is also changing rapidly. The world is moving towards digitalization.
As we slowly exit the Age of Pisces and move into the new Age of Aquarius, there will be a growing departure from the tangible and a movement towards the virtual. And yet, I make the bold prediction that on the other side of the Age of Aquarius, with the dawning of the Age of Capricorn, gold will be treasured again.
As for the present, gold is still holding strong and is at or near all-time high. Gold will always carry a special weight, no matter what age.
There is a reason why people still refer to a time of joy and abundance as the “golden” age, rather choosing a reference to the cryptic world of cryptocurrencies.