Tom Lee: First Time Ever Bitcoin Settled Transactions on-chain Exceed More than Gold Globally
During the CXC Panel, founder and managing partner Tom Lee of Fundstrat had the opportunity to open the discussion about the country’s digital economy. The topic of Ripple came up, and the group discussed the way that the platform’s efficiency has been supporting the market in a healthy way, while others have been lacking. They can cross borders, giving it “intrinsic value.” This segue gave Lee a brief opportunity to interject in the discussion.
When Lee had the floor, he brought up a recent publication where Bitcoin was discussed. In reference, the group specifically noted that there are more transactions on-chain with Bitcoin. Lee referenced the article’s claims, saying,
“Bitcoin settled transactions on-chain exceeded physically delivered gold for the first time. So, there’s more on-chain Bitcoin used for settlements than gold used for physical settlements on across all gold exchanges. So, in a strange way, it looks like the market is already starting to treat Bitcoin as a store value.”
To view the full discussion, watch the video on: