Coinbase CEO Brian Armstrong believes Bitcoin is superior to gold in some respects, predicting that the nation will hold more crypto assets over the long term.
The discussion between Bitcoin and Gold continues. Better conversations between physical and “digital gold” are now common among global financial market analysts and investors.
clip Coinbase CEO Brian Armstrong’s idea of Hot Debate is once again popular on Crypto Twitter. In the clip, he highlighted Bitcoin’s advantage over the well-known traditional financial asset classes.
Bitcoin: Money Better than Gold
For context, this video is a clip of Armstrong’s answer to a question from South African Resserge Kuganyago at the World Economic Forum meeting January. Bitcoin critics questioned why the government creates strategic preparations for assets without intrinsic value.
In response, Armstrong highlighted Bitcoin’s large utility and its superior properties compared to gold. For perspective, he pointed out that gold shares the same rare nature as Bitcoin, but that digital assets are a better form of money.
Coinbase CEO cited Bitcoin’s better schizophrenia and portability as a greater advantage over gold. Furthermore, he noted that digital assets have more utility than physical responses. In particular, its rapid transactional insights and applications in growing digital payment systems break the physical and intransigent nature of gold.
Meanwhile, Armstrong highlighted Bitcoin’s price performance. He noted that the largest cryptocurrency by market capitalization is the most performant asset of the past decade, surpassing most traditional asset classes.
For perspective, Bitcoin This has increased by nearly 34,000% over the past decade. Meanwhile, gold rose 181% over the same time frame.
The government will soon hold more bitcoins
Furthermore, Armstrong It was proposed The country is quickly adopting Bitcoin. Interestingly, he suggested that the government would create a strategic preparation strategy for Bitcoin and would soon reach or surpass the stash of gold.
“That (Bitcoin) might start with a reserve of 1%, but over time I think it’ll be more than the gold reserves.” Armstrong said.
Interestingly, the country is beginning to adopt Bitcoin. Pakistan recently announced that it will create a strategic Bitcoin reserve inspired by the US. Remember that America was spurred by Donald Trump, president of Pro-Bitcoin, who established a national reserve for crypto leaders.
Other countries such as El Salvador, Bhutan and China also hold a significant amount of Bitcoin. Bitcointreasuries data shows that 12 countries own Bitcoin, with a combined stash of 527,764 BTC ($55.7 billion).
The money-holding company has also switched loyalty. Recently, Bluebird, a UK-based gold mining company announcement Invest a portion of your revenue in Bitcoin Reserve.
