Gold and Bitcoin have actively been dubbed robust assets as hedges against inflation. While gold is regarded as the best among all, silver is gradually emerging as another leading currency asset worth investors’s money and time.
In times of economic crunch and crashdowns, investors are often noted flocking toward gold. It’s the primary thing to do considering Gold’s stable and appreciative price behavior.
However, in a surprising turn of events, silver is emerging as another stable asset to explore, known for its robust availability and accessibility across the globe.
Also Read: Bitcoin Surpasses Silver To Become 8th Largest Asset In The World
Three Reasons Why Silver Is One Of The Best Currency Alternatives to Explore
The Rich Dad, Poor Dad author Robert Kiyosaki has long been propagating gold and bitcoin as the safest bets against inflation and economic meltdowns. The author has also been voicing another asset, which till now has received barely any attention.
Silver is now being regarded as another asset worth an investor’s money. Here’s why silver can be the next best currency alternative to explore during stressful economic times.
Limited Supply
Gold is rare and limited in supply, which makes its value skyrocket now and then. Silver, being the next precious metal, is also available in finite quantities, making it resistant to cyclical inflationary pressure. The scarcity ensures that silver remains unfazed by economic meltdowns while maintaining its intrinsic and purchasing value stable and positive.
Also Read: US Dollar Trounces Gold & Other Local Currencies
Industrial Demand
Similar to gold, the value of silver is poised to gain appreciation in the near future. The industrial demand for silver has risen significantly over the past few years. Recently, Elon Musk, the Tesla CEO, bought several rights to the Silver Mine to ensure a consistent supply of silver for Tesla vehicle manufacturing.
Similarly, silver has diverse use cases as compared to gold. While gold is primarily used in jewelry, finance, and medicine verticals, silver, on the other hand, is used extensively in many fields. As a valuable industrial commodity, silver is used in batteries, electronics, automotive, brazing, and soldering industries, leading to steady demand and supply.
Affordability
Affordability and accessibility are two of the most important aspects of silver. Unlike gold, silver is affordable, pocket-friendly, and an asset whose value appreciates with time. This trifecta impacts the overall well-being of silver and propagates it as a metal bearing immense future potential. Throughout history, silver has been regarded as an important store of value and has been exchanged and bartered to procure resources. It has retained its intrinsic value and sheen over time and will continue to do so in the near future.