Why this might be true for Bitcoin
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Why this might be true for Bitcoin

“Bitcoin is a store of value” – we know that. “BTC is the future of currency” – I’ve heard that too. “Bitcoin can kill fiat” – Maybe yes, maybe no. But “Bitcoin is the next gold” – WHAT may indeed be true. Because not only the richest man in Mexico – Ricardo Salinas Pliego but also Lark Davis believes it, as he said:

“Bitcoin is the new gold. Gold for the Internet era … “

Is Bitcoin the new gold?

Davis stated that Bitcoin could grow 15 times more than it is now. As a result, the coin will be worth over $ 550,000 by the end of this decade. At this point, the market capitalization of the royal coin will be similar to that of Gold at the moment. Bitcoin currently has a market capitalization of $ 646 billion and Gold has $ 10 trillion. This makes the predictions for BTC statistically sound for the next decade. He ruled:

Bitcoin will continue to compete with market cap gold this decade. This is 15 times less than the current price, which would give a unit price of $ 550,000 per BTC.

However, the reasons why BTC is called the next gold dominate not only in the story of saving. Bitcoin is also a practical medium of exchange. If earlier this was gold, then today you cannot buy a loaf of bread with gold dust. However, as more businesses, including stores, accept cryptocurrency and bitcoin as a means of payment, it is safe to buy the same loaf for 0.000043 BTC.

Difficult but practical.

Bitcoin is becoming a superior asset as it is not subject to any technical barriers and now it appears to be removing the legal barrier as well. El Salvador is known to took the first step in this direction when Bitcoin became legal tender.

More reasons why BTC is better than gold

Lark Davis’ upbeat views were also reflected in the logistical aspects, as he said gold is not easy to move. Regulations and physical transportation restrict traffic, while millions of BTC can be sent anywhere in the world without worry. Adding to the same recently tweeted,

“Bitcoin can be moved anywhere for a few dollars in less than an hour, and it can be stored in your pocket in the ledger. The same amount of gold will weigh 1600 kg and will require an airplane. “

In his opinion, the fixed and verifiable delivery of Bitcoin made auditing easier than the potentially un-mined gold that exists on Earth or even in the universe. Nowadays, BTC is also censorship resistant, and its growing proliferation at the individual level makes it affordable as well as usable in everyday situations.

However, this does not mean that Bitcoin is canonical, as Davis said. said “In a doomsday situation, the Internet is unlikely to work, so no BTC, luckily there will still be a shiny yellow metal! (sic) “. In her closing remarks, Lark repeated:

“You’re looking at an asset that I personally believe will have a market capitalization of $ 10 trillion in the future.”

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