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❕NEWS St. Louis Fed Chairman: Bitcoin (BTC) Rivals Gold More Than Money

aryan4

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The US dollar is not tied to Bitcoin or gold, according to President Jim Bullard, who spoke to CNBC on Tuesday. According to him, Bitcoin is one of the rising crypto currencies in the market. St. According to the President of the Federal Bank of Louis, Bitcoin (BTC) is more of a rival to gold than money.
How much do you agree with these views?
 
I know why he made that assertion because Bitcoin can readily be kept as an asset that will be appreciated than money. some countries money like mine depreciate over time but btc kept over time will rather appreciate. I just read about seized BTC of 2 years back that just been sold and they made over 100% profit. That shows that it is a good asset to keep than even money
 
I even think Bitcoin is not even a match for gold again ,it was before when it was struggling in terms of innovation that it could be compared like that ,but now the development and innovation of Bitcoin have increased on a large existence why that of gold is still below expectancy ,which I hopes it moves more to the expectation we really want from it's existence and development I think ,based on volatility and others Bitcoin have gone very far
 
With what have been said, I simply say it's a rival to BTC base on the achievements recently, and I believe if things continue on the uptrend it will simply drag the attention of others investing as well. Which in return will grow in price and also in marketcap. Gold is very much ahead of BTC in terms of marketcap, but I believe in the next 10 years BTC might usurp the marketcap and become number one.
 
Yeah, currently bitcoin has already surpassed fiat and now aiming at gold to overthrow it from the throne. But fiat still has the advantage of government backing, relative stability, and many people and merchants are still prefer to use fiat than crypto. Its volatile price is a huge setback to crypto.
 
I don't know why people tend to compare bitcoin with money. Bitcoin doesn't possess the attributes of money and therefore it can't be regarded as money. Moreover, bitcoin is an asset that is measured with dollars. One could still compare bitcoin and gold because both are commodity.
 
Hardly,you will see people comparing bitcoins with money rather they do with gold. This is because gold is the only physical asset that can compete favorably with bitcoin. But however, the two assets are measured monetarily. That is, we can only know the value of both bitcoins and gold if we measure them monetarily.
 

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