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- Since its creation, the cryptocurrency king has seen a lot of changes. There are many comparisons, FUDs, regulatory pressures, and so on
- Following that, he discusses the battle between digital Gold and gold, the valuable metal
- When they get there, it will account for 5% to 7% of the global economy. 150 currencies will most likely be replaced by the US dollar. Perhaps just two or three will remain
Since its creation, the cryptocurrency king has seen a lot of changes. There are many comparisons, FUDs, regulatory pressures, and so on. All of these might result in a price increase or decrease for Bitcoin. In a CNBC interview, Microstrategy CEO Michael Saylor presented his case. He discusses a variety of topics related to BTC. Regardless of whatever opposing party is involved, he claims that the flagship token is the winner. At press time, MicroStrategy, a software corporation, was the largest Bitcoin HODLer. It now has about 114k BTC or 0.54 per cent of the entire BTC supply. That isn’t the case. They are going to keep piling forever, Saylor said.
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Following that, he discusses the battle between digital Gold and gold, the valuable metal. He explained that it’s obvious that Bitcoin is gaining and gold is losing and it’s just going to get worse. It’s apparent that digital gold will supplant gold this decade. In the past, Saylor has reiterated the same storey. For most investors, Bitcoin has replaced, will replace, or is in the process of replacing gold as a store of value. The majority of investors, including well-known “Gold Bugs,” painted an optimistic picture of digital gold. It has a long way to go, though, before it can dethrone the precious metal. However, benefits such as ease of transfer and minimal storage costs keep BTC on track.
Regardless, when questioned about the largest token’s future prospects, Saylor stated that by the end of the decade, it will have flipped gold, monetary indexes, a few bonds, a little bit of real estate, a few equities, and will have risen to become a $100 trillion asset class. So, 100 times where it is now. Bitcoin, on the other hand, wasn’t only competing with gold. It also faced competition from other sources, such as the global economy. The key currencies were the US dollar, Euro, and Chinese yuan. Bitcoin, on the other hand, will continue to be unstoppable as a digital asset.
When they get there, it will account for 5% to 7% of the global economy. 150 currencies will most likely be replaced by the US dollar. Perhaps just two or three will remain. The euro, the Chinese yuan, and the US dollar are all possible options. Everything else will most likely go. Then Bitcoin will be used as the global monetary index. BTC dropped to 14 owing to the ongoing volatility and consolidation phase clock. At the time of writing, it was behind the Swiss franc. Overall, despite its bright potential, BTC has another hurdle: regulations. Former Democratic presidential contender Hillary Clinton had already highlighted concerns about the largest nail in BTC’s coffin.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
