Bitcoin The New Gold Says Brain Armstrong On Crypto Adoption

Bitcoin is within the new “gold asset class,” has said by Brian Armstrong who happens to be the current chief executive officer of coin base in a coin base podcast speaking on the global adoption of bitcoin.

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We all are pretty much know who it’s will propel the market price rate if hedge fund come into the ecosystem, this can’t happen if there are no regulations which should be in place like some of it’s advocates to make it a safe haven for investors in that class.

He continued by saying for now that bitcoin can only be in the classification of gold, why it’s more referred to as the digital gold of the present day.

“Typically in down macro environments, we see there’s a flight to safety. In the traditional economy, that was always gold, commodities, things like that. But I think what we’ve realized in this downturn is that the crypto economy is just not a significant enough percentage of the global economy, the broader economy yet, to be actually treated as that digital gold in the sense that people do a flight to safety towards Bitcoin.

I think we’ll see that probably change over time. I could see in the next five or ten years as the crypto economy really becomes a bigger percentage of the global GDP that people will actually flee to Bitcoin as the sort of ‘new gold’ if you will, but that hasn’t happened yet. Frankly, I’ll admit, I overestimated the chances that Bitcoin would be this inflation hedge in this macro environment. I thought it might actually draw more attention to Bitcoin in this kind of environment, but it looks like we’re a little too early.”

Brian says that crypto will take the same path as regards adoption path just as e-commerce did.

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