Bitcoin and Crude Oil: How are these commodities for investment?
For many years, we have seen experts work hard to study demand and supply law dynamics in the market. If you look at Bitcoin, check its performance, and compare it with crude oil or other commodities like copper, you can find the difference. Both crude oil and Bitcoin are in the same basket, and many people seem to be investing in it. However, there is a difference between the array of investors who came first to put their money in crude oil and then the ones who invest in Bitcoin. At one end, you can find traditional experts putting their money in this way while others will showcase their interest in Bitcoin. They have invested in a big way to gain a big difference. One can find the two going good in the market, but the big question is which one to choose, or both remain the best investment option. You can further explore the sites such as Oil Profit system to know more about it.
Bitcoin as an investment option
The coin came on the market in 2009 by the mystery man Satoshi Nakamoto. It took some time to create an aura around it. Today it is ranked high in demand and investment in the market. Interestingly, it shares the largest market cap among digital coins. In reality, many experts like McGlone now support Bitcoin while equating it with crude oil. He states a single BTC is more than 500 barrels of crude oil, and for metals like copper, it goes to around 4.4 tons of copper. It is around a decade or so when we have seen the value of Bitcoin going down than the oil, and for copper, it was just a fraction of the metal.
Earlier in 2020, McGlone was the lone expert in the Wall Street market to predict that the coin would rise to 50K USD. Now we can see his prediction coming out so true when in Marc,h 21, we saw the coin crossing that said amount. It went to touch 70K USD. Today expert sport claims that Bitcoin will touch 100K USD in the market. We can only see the transition trick-free free asset, which was not earlier. McGlone once claimed that with the help of adding with the coin, one could quickly embark upon the phase of policy upheaval. The supply and demand thing would remain dynamic for Bitcoin in the coming times. He advocates Bitcoin more than oil.
Crude oil as an Investment Choice
Other than Bitcoin, the next commodity that remains worth is crude oil. It has seen a good change in this regard. As seen in West Texas, crude oil remains an intermediate option for more than 20 per cent of the market. The demand seemed to have gone up with around 6 million barrels early in 2012. Today it has gone up with around 3 M barrels per day. You can notice the imbalance of demand and supply thing for oil. It comes out to be an inexpensive option to a great extent taking the oil volume to the next level when you compare it with other expenditures as incurred earlier in 2012. The similar is the story of copper. The demand for this metal has come from China in the recent past.
McGlone feels that Bitcoin comes up with a lack of elasticity supply. The creators of Bitcoin is going up high to touch the cap of 21 M Coins. Hence you can make out that the coin is limited to 21 M of coins, which is the upper limit, and we can see the mining of the coin reaching 19 M as of now. So regardless of the supply and demand of the coin, we can see the price rising high and low remains unaffected. On the other hand, copper is a good choice for investment like crude oil. Thanks to the low potential that brings people to the metal for investment.
Wrapping up
Crude oil, Bitcoin or copper remain the top option for people to consider for investment. However, among the three, Bitcoin is the recent addition. Experts like McGlone feel that the nature of the coin may appear to be volatile, but it can return you hugely. So, unlike the other commodities like copper or crude oil that remain a durable option, modern-day investors now prefer Bitcoin for their investment option.
