How are you my dear friends? I hope you are well. Alhamdulillah I am fine by the grace of Allah. Friends, after being down for quite some time, the crypto market is slowly turning around again. Now Bitcoin is also in a good position. The current price of Bitcoin is at $66,150 dollar where 0.19% is moving in an upside uptrend. But my discussion today is not that, rather my discussion today is whether you should keep the amount of money or assets you have in a traditional bank or buy bitcoins with that money. Let's discuss this in depth.

There was a time when people said Bitcoin was a scam project that would loot people's money and wealth etc. But now Bitcoin is progressing itself in such a way that people stop spreading bad information about it and instead embrace it. As we observe, there are currently several countries that have adopted most of the cryptocurrencies including Bitcoin and started teaching its basics. And this shows how powerful a project it is.

---

Source

---

Anyway, let's get back to the main discussion, suppose you have $100,000 or some other asset that you currently have no use for. What would you do with that amount of money? Normally you would keep them in a bank or buy gold or any such asset with them. There are many banks around us where interest rate is very high. If you belong to Islam and are somewhat religious, you will definitely want to survive this bank usury. Because if you keep this amount of money in a bank then they will give you a huge amount of interest and since both taking and giving interest is haram in Islam it is natural that you should not take this approach. Anyway, I'm not going into that now, since you won't be keeping money in the bank, but you might think you can use it to buy gold. Which will be recognized as one's own property.

Also the bank has several other problems. One of them is that we often hear that some banks have cheated and disappeared with all the money. Also many times it is seen that many banks become insolvent due to various reasons and cease their operations. But the problem is not limited to this, also when we go to withdraw our money we have to face various harassments by the bank officials. Sometimes it is seen that when we want to withdraw more money, there is a shortage of money in the bank and it is not possible to withdraw the entire amount, so we have to worry about going to the bank again and again to withdraw money. And so you may have understood by now that keeping stable money in the bank does not always give us good benefits. And so we often see many of our relatives buying gold with their stable money

But if I were asked what I would have done with that amount of money, I would have answered immediately of course I would have bought Bitcoins. Because Bitcoin is much more profitable than gold. As we know that buying Bitcoin is very similar whether it is gold or not with money, because after buying both the full ownership of it comes to you. Since it is now very clear that it is better to buy Bitcoin or Gold, now the question may arise why should I buy Bitcoin instead of Gold? Let me try to make this point clear as well. Looking at the old chart, it can be seen that in 2008, the price of gold was $882.23 , and now in 2024, it has reached $2307.93 . Where its price growth rate is more than 104.45%. On the other hand, if we refer to Bitcoin, we can see that in 2009, the price of Bitcoin was around $1. And now the Bitcoins price is $66,150 dollar where the total value growth rate so far is around 107341697.73%.

---

Screenshot is taking from Phone

---

That is, you may now easily understand how profitable Bitcoin is for you compared to gold. But if you really want to buy bitcoins with your money, you definitely need to have a good understanding of crypto first. And I have posted many posts on such topics before, you can check them out if you want. Even then when you hold more bitcoins there are some problems like your wallet can get hacked or damage due to carelessness or even if you keep them in an exchange there is a risk. Because we have seen before that there were several popular exchangers who scammed and as a result many investors lost their wealth. And so you should keep your bitcoins in a hardware wallet, which is comparatively much safer. But in this case you need to prioritize the physical security of the wallet.

Now many may question why only Bitcoin is mentioned after there are so many cryptocurrencies. You know that Bitcoin is the mother currency of cryptocurrency. That is, if a country newly legalizes crypto, they will always look at Bitcoin first. And since Bitcoin is the mother currency, all other cryptocurrencies are influenced by Bitcoin. And so any country or group will always buy the mother currency that is Bitcoin. Not only that, all know that Bitcoin is fundamentally a much stronger project than all other cryptocurrencies.

---

Source

---

However I personally like to say, with money comes risk. Because if the value of money suddenly decreases, then that money will be of no use. Or if you don't keep the money somewhere, the value of the money will decrease. Similarly, if you keep it in a bank, there is a possibility that the bank will go bankrupt or close, while buying gold, there is a possibility that it will be stolen or lost, and buying bitcoins can also depreciate. In other words, looking at the whole, it can be seen that risk takers can get from all sides. And so we should review all aspects and buy the one that is more profitable.

Conclusion

Wherever you spend your money or property, you should do your research and consult with professionals. And at the same time try to understand its future consequences. Especially when you buy cryptocurrency.

So friends, that's it for today. Let me know in your comments how you like today's topic. I am ending here wishing everyone good health. All be well and stay healthy.

---

Thank You

---