Gold is known as one of the best long-term wealth storing assets during economic crises because of its reliably rare supply, which makes it maintain its value without much depreciation. Only 2,600 tonnes of gold are mined per year expanding the above ground supply at a yearly rate of 1.6 percent. However, the introduction of asteroid mining could open the doors to an enormous supply of precious metals.
NASA estimates the total value of resources in asteroids could be worth quadrillions on Earth, which could bring to an end to gold as a store of value. As the world marches into the digital era, it may make it even more likely that Bitcoin, the decentralized digitally scarce cryptocurrency, becomes the world’s preferred store of value asset.
The Realm of Gold as a Store of Value
Of all minerals on Earth, gold seems to be one of the more useful ones. Its unique properties make it untarnishable, extremely malleable, one of the best electrical conductors, it alloys well with other metals, and is easy to work into wires or sheets. Gold is useful in a wide range of sectors—from applications ranging from electronics to aerospace, to medicine and dentistry. Yet, most gold still goes into jewelry and the vaults of central banks.
To read the rest of this article, please subscribe to CryptoSlate Research.
Join CryptoSlate Research for deep analysis, long-form research and exclusive interviews
CryptoSlate Research is an exclusive premium newsletter that delivers thoroughly researched, long-form analysis from cryptocurrency and blockchain experts. These articles will not be published anywhere else and are only available to our CryptoSlate Research subscribers.
What can you expect from CryptoSlate Research?
- Exclusive insight from renowned crypto analysts including Joseph Young, Eric Thies, Kristy-Leigh Minehan, Kate Mitselmakher, Mitchell Moos, Priyeshu Garg and others.
- Hard-hitting investigative journalism and technical research providing insight into emerging sectors and industry trends.
- Original data and visual media to help you acquire a deeper understanding of what’s really happening in blockchain.
- Advanced cryptocurrency technical analysis and market insight from professional traders and financial analysts.
- Exclusive one-on-one interviews and editorials from some of the most influential people in blockchain.
- Gain access to our private Slack where you can engage with the CryptoSlate Researchers and vote on research topics.
- All quality—no advertisements, shilling, or sponsored content.
Disclaimer: Our writers’ opinions are solely their own and do not reflect the opinion of CryptoSlate. None of the information you read on CryptoSlate should be taken as investment advice, nor does CryptoSlate endorse any project that may be mentioned or linked to in this article. Buying and trading cryptocurrencies should be considered a high-risk activity. Please do your own due diligence before taking any action related to content within this article. Finally, CryptoSlate takes no responsibility should you lose money trading cryptocurrencies.