With Bitcoin gaining popularity among millennials and the fall in attention given towards baby boomer assets like fiat, stocks, bonds, gold, etc., there have been arguments as to which one is better. While some people strongly believe and advocate Bitcoin as a store of value, others believe that it will replace fiat and can be used as a currency.
The latter is far from becoming a reality due to the inherent problems in Bitcoin that deter it from becoming a currency. However, as a store of value, Bitcoin according to many is a better store of value than gold, labeling it is as Gold 2.0.
Max Keiser, a prominent Bitcoin enthusiast, believes that Bitcoin will hit $100,000 and will outperform every asset in the next 10 to 15 years. Hence, Keiser advocates “Stacking SATs,” which is the best way to accumulate Bitcoin. In a recent tweet, Keiser said,
“Gold was failing. The message of Hard Money wasn’t getting through. The media and Buffett hated it.
#Bitcoin’s appeal as Hard Money ignited interest in millennials and the financially oppressed globally, and it took off.
Now Gold is back, thanks to BTC.
The above is true, considering how Bitcoin was only famous among millennials. Bitcoin’s meteoric rise in 2017 turned the heads of mainstream media and institutional investors.
Keiser in another tweet commented,
“The #Bitcoin community now has a greater understanding of money and monetary history than the Gold community. This ‘flippining’ is relatively recent, and it explains why Gold Bugs are struggling right now”
Gold is usually attacked by the Bitcoin community since both are competing to be a better store of value. The #DropGold campaign is one such initiative that aims to educate people of Bitcoin’s superiority over Gold.
A Twitter user, @idroidbinhood, commented,
“Gold Bugs are struggling is because of Federal Reserve banks have capped #Gold prices.”
Subscribe to AMBCrypto’s Newsletter