Bitcoin can become digital gold

Many experts and financiers believe that bitcoin can be viewed as a digital version of gold.

For example, Galaxy Digital CEO Mike Novogratz does not exclude that in the long run, the cryptocurrency will even be able to bypass the precious metal in terms of capitalization.

Deutsche Bank strategist Marion Lebour also believes that bitcoin has a chance of becoming digital gold. However, at this stage in the development of the cryptocurrency market, one should also keep in mind the risks associated with BTC volatility.

For centuries, people have considered gold the safest asset, and now there is a need for a more profitable and mobile tool. It can become the largest virtual currency.

The lack of regulation and the environmental impact of mining are the main issues to be addressed in the coming years.

According to the Deutsche Bank analyst, if these tasks are resolved, then the adoption of bitcoin will accelerate, and the number of people who see it as a safe-haven asset will increase.

Comments (No)

Leave a Reply