all the ins and outs of bitgold and gold money

BitGold. An Alternative To A Mining Stock

As a pro mining person I like to follow and write about mining plays as much as possible. However I do stray off once in a while when something catches my attention. Because I watch for new issues and IPO's as much as possible, I noticed a few month back a small Venture company that had just been listed. Although not a mining company, they are involved in gold and in a big way also. The company I am talking about is Bit Gold XAU. Bit Gold is not a goldminer but it is a gold company that is firm in it's beliefs about gold as money. It is a company that could be classed like a tech company or something like a cross between bit coin and a gold vendor.

From a recent press release, the company sums it up this way: "The BitGold platform (Web and now mobile) is advancing the digital payments revolution by helping people securely acquire, store and spend fully allocated gold with unprecedented simplicity. Accounts are free and can be opened in minutes. BitGold provides users with a secure vault account to purchase and hold gold in the vault of their choice using a variety of electronic payment methods, the ability to make and receive instant gold payments, and a prepaid card for spending gold at traditional points of sale.

Every gram owned is the property of the owner and can be fully redeemable as physical one-kilogram bullion bars, or 10-gram GoldCubes. In addition, users can send and receive gold as payment to and from any Bit Gold user or seller for free. BitGold also makes it possible for users to send gold as payment to any non-BitGold users with an e-mail or a mobile phone, and now even easier using existing contacts right from the mobile app."



The companies theory is to get back to using gold as money instead of fiat currency like we use today. Through it's network system a person can buy gold and then use that gold to make purchases. Your gold is held in vaults throughout the world but you can access your gold via a computer online.

The company went public this year on May 13. On May 22 the company bought out Gold Money for 52 million dollars. Gold Money was a leading company that sold gold bullion online.

The interesting part of this companies concept is that with all the talk of negative interest rates in the world today, one has to just take a look at the chart graph below to see how gold has increased in value over the years. As a person in Canada I see that my money could be turned into gold and if I did not need the money / gold, it could in actuality appreciate in value at almost 10% per year. I notice that US dollars could be translated into a 12% return. With regular cash in the bank it is very hard to get even 0.5% return on a savings account these days.



Most finance types today will recommend at least 10% of your money to be invested in metals and gold is most likely the best metal you can invest in even if you are just buying small amounts.

Bit Gold has 43 million shares O/S and has traded between $2.35 low and $8.00 high.

As always, use Due Diligence and see our Disclaimer and be sure to sign up for our free news letter located on the right hand side of this page.


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