I would say in this age of technology, it is hard to deny the potential of digital gold like Bitcoin.
Gold has been a symbol of trust for thousands of years, it is tested and stable. But times have changed for now. The need for digital assets has increased in todays world. Bitcoins biggest strength is its decentralized network, limited supply (21 million), and global access. Although gold also has limited supply , but we didn't dig all the gold from the face of earn so we're uncertain of it.
Just as gold is stable, Bitcoins high profit potential has taken it to another level. Yes, it is volatile, but that is exactly why smart investors are looking at Bitcoin as a long-term holding asset.
Another big thing is gold has transportation, storage, and division problems. Bitcoin, however, is fluent in these areas it is possible to keep billions of dollars worth of Bitcoin on a phone or USB device.
So I would say, both Bitcoin and gold have different importance. But looking to the future, Bitcoin may be the next generation's 'gold standard'.
I'm on the "digital gold" team.
Indeed. Times have changed. It is such that now people value intangible items more than anything else. The rise of worthless NFTs and digital currencies tells us exactly this. We will reach a point where physical stuff will no longer be appealing to everyday investors. Especially newer generations which are digitally-native.
So yeah, Gold will become history while Bitcoin will take its place as the world's largest store of value. When will this happen, is an excellent question. It could take from half a century to a full century before BTC gains the same level of trust as Gold worldwide. The cryptocurrency revolution is just getting started. A lot has been achieved within 16 years since Bitcoin's inception. But there's a long road ahead before BTC positions itself as Gold's successor. For what I know, volatility is still at large. The adoption of spot ETFs are the step in the right direction. I'm sure Bitcoin will surprise us in the future.
