Bitcoin is apparently increasing in viability with respect to the crypto currency being a solid safe haven for Brazilian Forex investors who may be reluctant to invest in gold for some reason or another. The recent volatility in the international markets following the Brexit vote could be contributing some to the trade volume swings for gold, which shot up in value immediately following the vote. Bitcoin likewise has increased in value riding on the heals of gold, going from approximately $450 to over $700 after a major level of demand from the Chinese market. Bitcoin has been trading in Brazil for the past six months at a level that is just above that of gold, with gold investments amounting to $44 million U.S. dollars compared to Bitcoin at $47 million U.S. dollars.

While gold trades daily around the world occur at a much more vibrant clip, the compartmentalized case of Brazil could serve as a sign that investors are becoming increasingly skeptical of worldwide markets, especially considering Brazil’s alignment with the BRICS nations. The total volume of international trade in gold dwarfs Bitcoin, but the showing by Bitcoin in Brazil over the first six months of this year are impressive for an investment device that only been in operation for seven years. Gold, on the other hand, has a thousand year history of trade as a precious metal.

The decentralization of authority over Bitcoin is apparently an attractive quality for concerned investors, as the international gold market is centrally controlled by the London Bullion Markets Association. Given the international control of the gold market, if the markets start to take a serious nosedive Bitcoin could be insulated from the fall because of relative value to the price of gold and potential additional upswing in Bitcoin value. Gold is often likewise used as a safe haven in unstable economic times and Bitcoin’s relativity to gold creates a level of investment security.

After the numbers have been crunched for the first six months of the 2016 Bitcoin purchases grew significantly over 2015 levels for the same period last year. The month of June 2016 alone revealed a growth of 45% over the same month last year, and the future may even be brighter for the digital currency that generally runs under the radar in terms of volume. Gold still trades at a rate of about US $20 billion per day while Bitcoin lags way behind at approximately US $1.5 billion. There is truly very little comparison in volume, but the percentages of growth are impressive enough to deserve attention. This clearly is still very good news for the Brazil. As their national economy continues on a pattern of solid growth, Bitcoin gives investors an alternative to other precious metal assets as a method of protecting personal wealth.

The future of Bitcoin may actually lie in the continued popularity of the asset as many nations are teetering on the edge of financial disaster and investors are making serious decisions on how to protect their wealth. Digital currencies surely appear to be major investment instruments of the future, regardless of the position of any particular government concerning competing forms of money. The United States government is a prime example, as the United States Marshals have conducted several raids over the past three years, seizing Bitcoin inventories that are then put up for auction to the highest foreign bidder. The U.S. zero tolerance policy has also resulted in the prosecution of at least one Bitcoin market operator, Ross Ulbricht, who was given life in prison after his conviction that is currently under appeal.