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Bitcoin Will Replace Gold, Crypto Data Analytics Company CEO Says


Bitcoin Will Replace Gold, Crypto Data Analytics Company CEO Says

Could Bitcoin, the world's "digital gold," replace physical gold in the future? As the world turns more digital, crypto's pioneer asset Bitcoin (BTC) could take on gold's store of value role, according to the CEO and co-founder of Digital Assets Data, an analytics firm. "I see Bitcoin replacing gold as the hardest money for savers with long time horizons," CEO Mike Alfred told Cointelegraph. "Young people are far more interested in Bitcoin in a world where the economy becomes increasingly online and virtual," he added.

Bitcoin has gained significant status since inception

Since its launch over a decade ago, Bitcoin has travelled a price path from less than a dollar, all the way up to nearly $20,000. In that time period, the asset has changed roles several times, from a transactional currency to a financial asset, and everything in between, according to analysis from crypto Twitter analyst PlanB. "The most compelling use cases continue to be in emerging markets where monetary instability and inflation makes it extremely risky to save in the local currency," Alfred said. Read More...