 ▲ Source: Infinity Market Cap |
According to Infinity Market Cap on the 19th (local time), cryptocurrency leader Bitcoin (BTC) ranks 9th in the global asset ranking based on market capitalization. Currently, the No. 1 asset by market cap is gold, No. 2 is Nvidia, No. 3 is Microsoft, and No. 4 is Apple. 5th to 8th place are Alphabet (Google), Amazon, Saudi Aramco, and Silver.
We asked ChatGPT-4o which asset would be a better investment in 2024 regarding silver and Bitcoin, which rank 8th and 9th in global market capitalization.
According to Pinbold, Bitcoin (BTC) is under significant selling pressure as the broader cryptocurrency market experiences a downturn, and is currently trading in the $65,000 range. Silver (XAG/USD) maintains the key support level of $29.00 and is rebounding as U.S. bond yields come under downward pressure.
“Both Bitcoin and silver offer unique investment opportunities with distinct advantages,” said ChatGPT. “Bitcoin appeals to investors with a high risk tolerance and focus on aggressive growth, while silver has strong potential for growth in industrial demand and emerging technologies.” “Due to their role, including both assets in a diversified portfolio can be a wise approach to balancing potential risks and rewards,” he said.
“Bitcoin has high growth potential and volatility, making it attractive as a hedge against instability and inflation in traditional financial markets. In addition, its acceptance as a payment method and increasing institutional investment are positive factors,” Finbold said. Silver, on the other hand, is stable. Silver is less volatile and suitable for conservative investors who do not want to take on high risk, and its price is sensitive to emerging technologies and sustainability trends, as well as inflation and economic growth. “It acts as a hedge against recession,” he explained.
“In conclusion, Bitcoin is a high-risk asset with high reward potential, suitable for investors seeking short- to medium-term profits, while silver is suitable for more conservative investors due to its stability and growth based on industrial demand.” “It is advisable to construct a diverse portfolio including Bitcoin and silver depending on one’s risk tolerance, investment period, and market outlook,” he advised.
