For hundreds of years gold is considered as the best financial hedge. It does not loose its value inspite of so many markets maelstroms, wars or inflation. Is bitcoin able to start competing with this particular precious metal?
With no doubts, there is something on the run. An English company with long traditions, started in the second half of the XVIII century decided to accept bitcoin transactions. I talk about Sharps Pixley, which is right now owned by Deguss Goldhandel. Sharps Pixley specialises in trading and holding noble metals. The liberal owner, who kindly welcomes cryptocurencies traders and investors hopes to witness a certain development of the new technologies. The company started cooperating with Bitpay service, thanks to what you can buy gold for bitcoins since September 26th.
Although for now it is impossible to state whether this decision of Sharps Pixley was a good one. Most their clients are traditionalists, who would argualby will be adverse towards the modern operations which might negatively affect the firm. Besides, the unexpected changes of bitcoin price (and not only bitcoin) may have a certin impact on the value of gold in Sharps Pixley. Nevertheless, who doesn’t risk, doesn’t drink champagne, so it may turn out the this very bold decision will be also a very profitable one and start another great successs. But for the crypto traders and investors it is already a victory – cryptocurrencies are regularly developing and becoming worldwide.
