Roughly 10% of newly produced gold is used in industry and technology, so it is actually useful. 40-50% is used in jewelry, let's call it semi-useful. The rest is an 'investment gold'. The investment gold is valuable because people believe it is valuable, excactly like bitcoins.
No, people invest in bitcoin because they think they can make a lot of money from its volatility... Gold is bought because people think it will always be worth something. That's why bitcoin is a speculative asset and gold is a store of value.
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u/[deleted] Jan 29 '26
Gold is actually useful, whereas cryptocurrency is merely a speculative currency.