The Digital Asset Bitcoin (BTC) Is Largely To Replace Gold Sooner Or Later
The emergence of cryptocurrencies is gradually and practically changing, influencing traditional financing as we all know it. As indicators are already saying that the primary digital currency is already on track in doing that, they are so many positive responses as regards the pricing of the primary digital asset has it is said that it will definitely seen double digits again but nobody knows when.
Mark Yusko of Morgan Creek Digital is making predictions that;
“There’s only one money in the world: gold. Everything else is credit, everything else is a currency. Currency is backed by debt.
Every central bank in the world has gold, some of them have less than they used to because they moved off the gold standard and went to a fiat standard where they could devalue the currency faster because they had too much debt, but where is the gold going? It’s going to China, which I believe will be the next global reserve currency, [but] it’ll eventually be Bitcoin.
In the future, Bitcoin wins because it is an asset that exists in the absence of a liability, which is what the definition of money is.”
He says bitcoin will be able to do this base on it’s superiority of being visible and it’s easy to move.
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