Bitcoin Will Not Reduce Popularity of Gold in South Africa Anytime Soon

Many enthusiasts feel Bitcoin will become more popular than gold at some point. It is true the price per BTC has surpassed the value of one ounce of gold. However, that will not impact the popularity of gold by any means. Over in South Africa, gold still remains a far more attractive investment vehicle. There is no reason for immediate concern, as people can diversify holdings through multiple assets.

South Africa Favor Gold, For Now

The study conducted by Bitcoin exchange Luno paints an interesting picture. It is evident South Africans favor gold over Bitcoin when it comes to a safe haven asset. So far, it appears 12% of South Africans have expressed an interest in Bitcoin. That is a solid number, considering 53.9% of surveyed favor gold. Both prove to be quite appealing assets with lots of upside potential.

Another interesting statistic is how over one in three people is unsure of how to invest when it comes to these choices. To a lot of people, gold is losing some of its appeal. However, Bitcoin remains a very niche market with little value to these people as well. From a  speculative point of view,

Read more ... source: NewsBTC USA

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