Bullish for Bitcoin? World Gold Council Report Shows 61% Trust Hard Money Over Fiat

As reported by NewsBTC, “A new report by the World Gold Council shows that there is global demand for harder forms of money than fiat currencies. Such demand points to a bright future for Bitcoin given that it represents an even harder form of money than the precious metal.

“A total of 61 percent of those surveyed in the report said that they trusted gold more than they did fiat currencies. Historically favoured for its somewhat limited supply, the only thing going for gold and not Bitcoin is time.

“The recent World Gold Council report asked 18,000 individuals from around the world for their investment preferences. It shows that gold remains one of the most popular forms of investment globally. Savings accounts are by far the most popular, with life insurance next, and gold in third place.

“Cryptocurrencies, like Bitcoin, remain way down the list in 10th position.

“Although it is still much too early in the Bitcoin story to expect the masses to suddenly believe in it as a long-term store-of-value, the conclusions drawn by the WGC report show that there is a reasonably high level of distrust of fiat currency around the world.

“A total of 61 percent of those asked said that they trusted the precious metal more than they did any national currency. Meanwhile, 67 percent said that they believed gold to be a good safeguard against inflation of currency instability.

“Although the analogy between gold and Bitcoin has been repeated many times before, it still rings true. For the same reasons gold has historically made a better form of money than the paper money prevalent today, Bitcoin represents an even harder form of money still…”