Gold is one of the most valuable metals on Earth, and it is in this status already for thousands of years. Over time, gold has become a great way for people to retain the value in different conditions, countries and eras. However, with the advent of the Internet and the subsequent introduction of Bitcoin, some proponents of digital technologies believe that the status of gold as a major store of value may falter.
Bitcoin for a long time compared with gold, and many analysts and industry observers have found a link between the nature of the two assets. Some even called BTC is “digital gold” because of the similarity that it has with the “original” gold.
However, Lou Kerner, co-founder CryptoOracle, made a clear statement about what Bitcoin actually can compare to gold in certain areas and qualities, while complementing the gold of his importance to the history of mankind. Speaking in the program “The Coin Rush” on CNBC, Kerner said:
“Gold has become a global store of value, and he occupied this position just a couple of thousand years is a fantastic run. So, now we have something (BTC), which, in our opinion, can be functionally much better (than gold). Therefore, we expect that over time — not a day, not a week, even after 5 years, for some of the people that use gold as a store of value, to switch to Bitcoin.”
Author: Andrey Lyamzin analyst Freedman Club Crypto News
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