Analyst Describes How Bitcoin (BTC) Can Hit $100K By Being A Better Store Of Value Than Gold

    Analyst Talk About How BTC Could Hit $100K By Being A Better Store Of Value Than Gold

    For most people, BTC use case is not quite clear. However, a lead investor recently explained on Bloomberg that BTC is a store of value at its most basic. He even claimed it was better at this than gold.

    BTC Better Than Gold

    Lou Kerner, a renowned venture capitalist and a founder of CryptoOracle was recently on Bloomberg where he eulogized BTC quite eloquently. On the value proposition of BTC, he said that it had the potential to replace gold as the primary store of value. Right now, gold has a cumulative market cap of about $8 trillion.

    He even noted that if BTC were to fail to surmount gold, it could still experience a major appreciation. He is not the only one to laud the potential of BTC as a store of value. Ryan Selkis, the CEO of Messari, a go-to crypto resource, recently echoed the sentiments. He said that it was a great way to hedge against inflationary recession.

    Selkis had worked at JP Morgan before the Great Recession of 2008. He noted that at some point, the capital markets would deflate with the waning of asset inflation. He had a very harrowing vision for centralized assets such as government bonds and stocks. The CEO said that investors would flock to BTC when the going got tough. In his assessment, BTC was the digital embodiment of gold.

    The 2018 Bear Run

    Lou Kerner was then questioned about the decline of crypto in 2018. In his defense, he cited Amara’s Law, which claims that the impact of new tech is overstated over the long haul but was understated in the short term. He added that crypto was more revolutionary than the internet in his opinion. Thus, crypto would continue to be subjected to Amara’s Law.

    The interviewer then asked if the day of BTC hitting $20,000 were over. The CryptoOracle chief stated that while gold had a five-year run; BTC would overtake it with time. He noted that this would happen once people began to realize that BTC had various benefits over gold. In his opinion, BTC would easily surpass the $100K mark.

    Fiat Is A Ponzi Scheme

    Kerner went on to state that the dollar was a Ponzi scheme. He said that all fiat currency up until 400 years ago had dropped to zero in value. He went on to note that while the dollar was a Ponzi scheme, it was not the fault of the US government. Rather, he noted it was due to how the financial system currently operates.

    He noted that no one, even the president of the US, expected that the over $180 trillion in debt globally would ever be rectified. Thus, to maintain the purchasing power over time, capital allocation in gold had become the go-to choice. Travis Kling, a major crypto investor also noted that BTC would offer consumers the ability to opt out of the fiat monetary experiment.

    Get Free Email Updates!

    *Action* Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

    I will never give away, trade or sell your email address. You can unsubscribe at any time.

    Bitcoin Exchange Guide News Team
    B.E.G. Editorial Team is a gracious group of giving cryptocurrency advocates and blockchain believers who want to ensure we do our part in spreading digital currency awareness and adoption. We are a team of over forty individuals all working as a collective whole to produce around the clock daily news, reviews and insights regarding all major coin updates, token announcements and new releases. Make sure to read our editorial policies and follow us on Twitter, Join us in Telegram. Stay tuned. #bitcoin

    [Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

    [Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer


    Please enter your comment!
    Please enter your name here


    Live Bitcoin Price & Latest BTC Charts

    Today's Latest Crypto News

    Microsoft Files Patent To Mine Cryptocurrencies With Verified Body Activity Data

    Giant software manufacturer, Microsoft is seeking to capitalize on the new crypto hype. The firm is seeking to introduce its own cryptocurrency that will...

    Coinbase Commerce Crosses $200,000,000 In Crypto Payments Since Launch

    Covid-19 hasn't kept consumers from using bitcoin (BTC) as a means of payments for goods and services according to a merchant transaction report from...

    Singapore Exempts Binance, Coinbase, Gemini, and Ripple From its Current PSA Crypto Act

    Singapore is counted among one of the crypto hubs of the world as it offers ease of business for these crypto service providers when...

    The World Has Gone Full Crypto in 2020; Volatility is Up, Stocks Are trading like A Sh*tcoins

    The global markets are on a rollercoaster for the past few weeks, one day they are recording historical one-day gains the next they are...

    South Korea May Get A New Crypto Custodian After Largest Bank Files Trademark App

    KB Kookmin Bank, the largest bank in South Korea, is preparing to launch its cryptocurrency custody service as soon as possible. As per the local...

    BitcoinExchangeGuide is a hyper-active daily crypto news portal with care in cultivating the cryptocurrency culture with community contributors who help rewrite the bold future of blockchain finance. Subscribe on Google News, see the mission, authors, editorial links policy, investment disclaimer, privacy policy. Got News? Contact us, we are human too. Note: nothing here is financial advice, do your own research thoroughly.