Gold and bitcoin are considered the safest assets today. In October, the cost of one bitcoin increased by 27%, and since the beginning of 2020, its price has skyrocketed by 81%. Gold, in turn, has risen in price by 25% over the same period of time.

These assets have a lot in common. Their main similarity is that neither bitcoin nor gold can be quickly printed, unlike fiat currencies, which are unsecured and printed in unlimited quantities. Moreover, gold mining requires a lot of effort and money.

Bitcoin mining is also not easy. First, you need to invest a lot of capital in the purchase and installation of equipment. Also, in the Bitcoin algorithm, the mining limit was originally laid down. No more than 21 million pieces of this cryptocurrency can be mined. However, there was a case when people lost access to their electronic wallets, which had a lot of coins. As a result, some of the bitcoins disappeared forever. In other words, there will be fewer than 21 million bitcoin coins in the world even when bitcoin mining ends.

The skyrocketing gold and bitcoin prices this year are driven by the coronavirus pandemic, which has caused the global economy to collapse. To support the struggling economy, central banks started printing unsecured money. As a result, many currencies depreciated.

Recently, large investment companies began to treat bitcoin as an investment asset, which led to the growth of the digital currency. They transferred part of their capital to this cryptocurrency in order to diversify it. For example, MicroStrategy and Galaxy Digital Holdings bought a large number of bitcoins, in particular 38.250 and 16.651 respectively.

Firms and companies are increasingly integrating digital cryptocurrency into their business model. For example, PayPal clients will be able to pay for goods using bitcoin. After this message, the bitcoin rate peaked and reached the 2018 highest point of $13,339.

Many investors, in order to preserve their capital during the crisis, invest in gold and bitcoin. These assets performed best during the global lockdown. Analysts advise having gold, silver and bitcoin in the investment portfolio.

However, bitcoin has a drawback that carries some risks. This is the volatility of its rate. Therefore, you should not invest large amounts of money in this cryptocurrency.

Gold and bitcoin have great prospects. Analysts recommend buying these assets on a regular basis in small volumes at each exchange rate correction.

Meanwhile, the gold is rising again during trading on Thursday.

Gold futures for December delivery rose by 0.15% to trade at $1,882.00 per troy ounce.

Silver futures for December delivery rose by 0.60% to hit $23.500 per troy ounce. Copper increased by 0.50% as well to settle at $3.0820.

The US Dollar Index, which measures the US dollar against a basket of six major currencies, is trading at $93.410.