By The Daily Hodl - 2 makore apfuura - Nguva yekuverenga: 3 maminetsi
Bitcoin Is Crushing Gold As Crypto Adoption Cycle Accelerates, Says Galaxy Digital’s Mike Novogratz
Galaxy Digital CEO Mike Novogratz thinks Bitcoin (BTC) is the new asset of choice for people seeking to protect themselves from the effects of inflation.
MuGalaxy Digital's Q3 muhoro kufona, bhirioni anoti that gold’s recent track record has likely been a disappointment to investors of the precious metal.
“I think if you had asked gold bugs two years ago where the price of gold would be, given what’s happened in monetary and fiscal conditions around the world, they would have all answered far higher than here at $1,800.
What’s happened? There’s been a substitution of Bitcoin for gold. We’ve seen it directly [and] indirectly. You see it in the charts. I still think gold was probably an okay asset to own in this environment, but it’s just gotten crushed by Bitcoin... "
Novogratz anofunga izvozvo Bitcoin adoption will only continue to grow while comparing the rise of blockchain technology to how the digital camera transformed photography.
“If you think about any other shift when we went from analog to digital, how many people still use Kodak film? Bitcoin is just a better version of a store of value, and it’s being accepted at an accelerating pace…
There are now over 200 million people around the world that participate in the Bitcoin ecosystem, and it continues to grow.”
The investor concludes that BTC has passed the use-case test of whether people come to view the top crypto as being a store of value.
“A store of value gets its worth from the social construct [where] people agree that it’s valuable. ‘I’m going to hold my hard-earned money, my labor, my savings in this form.’
The debate about ‘Is it a store of value?’ is way over. It was over nine months ago, and so now it’s just adoption. And it doesn’t mean it won’t be volatile… I just think you are going to continue to see it adopted. It’s cheaper to store. It’s easier to move.”
Panguva yekunyora, Bitcoin continues its recent downward trend and is trading at $57,206.
Tarisa Price ActionUsapotsa Kurohwa - Subscribe kuti uwane macrypto email macryt akaunzwa akananga kuinbox yako
Follow tiri Twitter, Facebook uye teregiramu
Surf Iyo Yemazuva Hodl Sanganisa
Tarisa Dzidziso Dzepamhepo Misoro
Disiki: Pfungwa dzakaburitswa kuThe Daily Hodl haazi mazano ekudyara. Vashandi vanofanira kuita kushingaira kwavo vasati vaita mari yakawanda-ine ngozi Bitcoin, cryptocurrency kana zvinhu zvemadhijitari. Ndokumbirawo kuti muzive kuti kuwedzeredza uye kutengeserana kuri panjodzi yako wega, uye chero kurasikirwa kwaungawana ibasa rako. Iyo Daily Hodl haikurudzire kutenga kana kutengeswa kwechero mari yemadhora kana zvinhu zvemadhijitari, uye iyo The Daily Hodl chipangamazano wezvekudyara. Ndokumbira utarise kuti The Daily Hodl inotora chikamu mukubatana kwekushambadzira.
Featured Image: Shutterstock/VAlex/Sensvector
The post Bitcoin Is Crushing Gold As Crypto Adoption Cycle Accelerates, Says Galaxy Digital’s Mike Novogratz yakatanga kutanga Zuva Nezuva.
Original source: Zuva Nezuva