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- In the current year, Bitcoin has outperformed many significant assets and is one of the top bets of 2020.
- The Litecoin foundation co-founder, Xinxi Wang in his latest tweet notified though it is uncertain to speak about the economy, BTC is intended to go higher.
- Additionally, he said it will be beneficial to the society if the king coin replaces fiat currency.
In the current year, Bitcoin has outperformed many significant assets and is one of the top bets of 2020. So far this year, the price of BTC uptick over 30% after facing the massive drop of March 12.
Bitcoin over economic turmoil
However, as per the advocates, the investors must cation while trading in Bitcoin, at the time when the cryptocurrency is on higher priority ahead of traditional assets.
Moreover, in this mob mentality, some significant speculators impel investors to go-ahead for Bitcoin despite traditional assets such as equity or gold.
The Litecoin foundation co-founder, Xinxi Wang in his latest tweet notified though it is uncertain to speak about the economy, Bitcoin price is intended to go higher.
No matter what happens in the economy, Bitcoin is destined to go up up and up.
— Dr. Xinxi (@TheRealXinxi) May 15, 2020
Today, Wang moved to Twitter and shared its opinion in a questioner way to know what investors think about his perception.
If bitcoin (BTC) replaces fiat currency
Looking at the global economic turmoil due to coronavirus pandemic, the founder stated that once Bitcoin replaces the fiat currencies of all the countries, the world will become better for him, for those who hold BTC, and for those who do not.
Once Bitcoin replaces all countries' fiat, the world will become much better not just for me who is now holding Bitcoin but also who is not.
— Dr. Xinxi (@TheRealXinxi) May 15, 2020
Additionally, he said it will be beneficial to the society if the king coin replaces fiat currency. It seems that Wang prefers Bitcoin will be a safe haven during the pandemic situation. He also finds BTC as a better investment than fiat currency.
BTC standard over Gold
Furthermore, Wang added the standard of gold is better than fiat however, Bitcoin is better than the standard of gold.
The gold standard is better than fiat. And Bitcoin is better than the gold standard.
— Dr. Xinxi (@TheRealXinxi) May 15, 2020
Seeking answers from the users, he shared that Fiat helps with GDP growth by improving living standards.
Fiat helps with GDP growth and thus improves people's living standard.
— Dr. Xinxi (@TheRealXinxi) May 15, 2020
Also, he added once most countries in the world replace fiat with BTC, countries that don’t have much BTC won’t do well but still should stop using fiat.
Hence, once BTC replaces fiat currency, there will be less inequality.
Once most countries in the world replace fiat with Bitcoin, countries that don't have much Bitcoin won't do well but still should stop using fiat.
— Dr. Xinxi (@TheRealXinxi) May 15, 2020
Once Bitcoin replaces fiat, there will be less inequality.
— Dr. Xinxi (@TheRealXinxi) May 15, 2020
With several views about BTC and fiat, the veteran speculator is looking for users’ opinions for the future of Bitcoin.
Recently, the Litecoin co-founder opined about the blockchain dollar, Tether, and compared it with a time bomb.
