Most us investors choose gold over bitcoin

Photo: Bullion Vault

The digital currency has been the subject of much media attention and investor frenzy in the past 12 months, with demand rocketing up as much as its value. Despite its apparent growth in value, though, the vast majority of US would rather invest in gold than Bitcoin.

The survey by Harris Ineractive and financial management firm Yodlee found that almost half of US citizens know what Bitcoin is, but that only 13 per cent would choose to invest in it over gold.

The precious metal has not enjoyed a positive year, although it is seeing prices grow once more following a plunge in value in 2013. Nonetheless, gold was the more trusted asset out of the two among the 2,039 adults polled by Harris.

Male investors are more willing to consider the digital currency, with 14 per cent saying they would choose it over gold, compared to 10 per cent of women.

Yodlee’s Senior VP of Operations and Information Security, Tim O’Brien, said: “Bitcoin will be hard for consumers to understand and trust on a large scale until secure, user-friendly tools and services emerge to make it as convenient and safe as possible to use.”