Morningstar Analyst: Bitcoin and Other Digital Assets will Never Replace Gold

Analysts from investments ratings firm Morningstar have stated that Bitcoin and other cryptocurrencies will never be a threat to gold as a store of value.

Bitcoin Outperforms Gold on Almost All Fronts

Many in the cryptocurrency space believe that digital assets could represent the ultimate store of value.

They contend that the likes of Bitcoin represent a sound form of money than gold, which has long been considered the best, true safe-haven asset. Several pro-bitcoiners have highlighted the asset’s true scarcity, the fact it can be stored and divided much more easily than gold, and the fact that it can be secured in such a way that no government entity can confiscate it.

However, for others the notion of cryptocurrencies as a store of value is ridiculous. Perhaps the most common response to such a statement is: “How can something capable of making such dramatic price moves over a short period really be used as a safe-haven asset?”

Supporting the naysayers’ view are Kristoffer…