In an era when financial volatility has become a personal concern, "gold" and "Bitcoin" have emerged as the two most compared assets as tools for preserving wealth.
As is well known, gold is recognized as a stable, safe asset with a long history, while Bitcoin is viewed as the "digital gold" of the future world, capable of free and flexible transfer.
Thairath Money delves into perspectives from two experts.
This is to help everyone understand the essence of these two asset types and find the answer together on which best suits their investment goals.
The debate between "gold," the longstanding traditional asset, and "Bitcoin," the digital asset challenging the old system, has become a crucial question for investors worldwide.
Ultimately, which is the best wealth preservation tool today — the proven stability or the innovation that could forever change the financial future?
Mr. Jim Jinnana Sinsong views gold as an asset with a long-proven track record, possessing intrinsic value and the ability to appreciate over time on its own, despite being harder to transport than digital assets.
Currently, gold remains continuously accumulated by central banks and governments worldwide, reflecting its sustained value. He also emphasized that although he graduated in computer engineering and has tech knowledge, he would still choose gold for his main investment portfolio.
However, Mr. Jim acknowledges that Bitcoin has changed the history of global finance and sparked innovation in the new financial era but has concerns about Bitcoin's "trust" which operates within a community.
If in the future governments worldwide unite to create more trustworthy coins, such as those backed by gold, these could become competitors to consider.
Meanwhile, Dr. Wichit Saiklao believes that understanding Bitcoin requires first understanding "gold," especially why gold has been accepted as a valuable asset and store of wealth for so long.
He explains that when humans generate income and start saving, they seek tools to preserve their money’s value. The best assets must be scarce, non-increasable, durable, portable, and highly liquid, easily convertible back to cash. Both gold and Bitcoin meet these criteria.
However, Dr. Wichit sees that as the digital world becomes part of daily life, the "ease of transfer" of assets becomes critical.
He compares that in a war crisis, transporting large amounts of heavy gold across borders is difficult, but Bitcoin allows anyone to "disappear" anywhere with their wealth.
When history’s duration becomes an investment factor, the "age of the asset" inevitably arises for comparison: gold’s 5,000 years versus Bitcoin’s mere 16 years—what is more compelling?
From Mr. Jim’s perspective, credibility remains paramount, likening gold to an asset that offers investors a greater sense of "comfort."
Gold has endured through numerous crises for over 5,000 years, following the principle that the longer an asset exists, the more likely it is to persist. Although gold prices may not surge rapidly or dramatically, they provide peace of mind in holding it.
Conversely, while Bitcoin’s volatility and soaring prices are attractive, the comfort in holding it is much less, given Bitcoin’s 16-year history, which still requires substantial proof of reliability.
Additionally, Mr. Jim raises a concern based on interest theory that ultimately the "small group in power" may win this financial game, having enough capacity to create their own digital currencies to replace others—an unavoidable future risk.
On the other hand, Dr. Wichit holds a different view, believing that the global financial structure is at a pivotal shift that will completely break old rules, noting that the gold-backed financial system ended with the gold standard's abolition in 1971.
The future world will be a fully "digital cyber" era, creating a clear divide between old assets like gold and digital assets, with "trust" in the asset itself remaining.
In this context, Dr. Wichit thus thinks that the interest theory worry Mr. Jim mentioned—about old power groups creating coins to control the market—is nearly impossible in the new financial structure where the power of large organizations is diminishing.
Regarding volatility, Dr. Wichit compares Bitcoin, at just 16 years old, to a "child" with enormous growth potential, likening its price volatility to the "turbulence of a plane taking off." This shaking does not signal danger but is a sign of ascending to a new, higher flight level. Therefore, Bitcoin should be given 5-10 more years to prove itself as the asset of the future.
If you have 100,000 baht, where should you put it—gold or Bitcoin? There is no absolute right or wrong answer; it depends on one’s life goals, risk tolerance, and outlook on the future. Both experts offer different explanations as follows.
Mr. Jim Jinnana advises two main approaches based on risk tolerance. For investors in their "building phase" who are determined and can accept high risk, Bitcoin offers the chance for massive exponential returns but requires great caution against human error, such as forgetting digital wallet passwords or risks from exchanges that could commit fraud.
Conversely, if an investor seeks safety and wants stability so the money does not disappear, "gold" remains the more reassuring answer, as it has proven it can outpace inflation long-term and cannot lose all value.
Additionally, Mr. Jim points out that innovations today make gold more accessible; small investors do not need to carry hundreds of thousands in cash to buy gold bars but can save through applications with just hundreds of baht, accumulating until they can exchange for real gold to keep.
Meanwhile, Dr. Wichit offers a contrasting view, emphasizing that Bitcoin truly suits "small players," with the ability to buy fractional units. Even with 100 baht, one can start saving immediately, and he believes Bitcoin has an advantage over gold in terms of convenient and fast wealth transfer in the digital age.
Comparing growth potential through 2030, gold might rise from tens of thousands to 120,000 baht per baht weight, doubling in value, while Bitcoin could potentially reach 20 million baht per coin, a fivefold increase. Thus, he believes Bitcoin is currently the "fastest horse" on the investment board.
However, both agree fundamentally that "saving is the foundation of all institutions," and the key is not when to start but choosing the right asset aligned with oneself.
Finally, Mr. Jim leaves a thought that investing is never too late and one can use Dollar-Cost Averaging (DCA) with both assets but must be confident that the asset can be truly "entrusted." Meanwhile, Dr. Wichit sees this time as a "Bonus Period" for small investors to accumulate future assets before giant financial institutions take over the entire space.
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