With disruptive products like Bitcoin, comparisons are inevitable. Especially as people try to understand what they are and how they work. And one of the analysts’ favorite comparisons is between Bitcoin and gold. However, for many crypto influencers, the outcome of the battle between BTC and the precious metal is clear. For this reason, Michael Saylor comments in the Tweet of the day that Bitcoin will sweep away the gold in the end:
Bitcoin and Gold Who will win?
For years, within the crypto world there has been a theory that presents Bitcoin as an asset store of value. That is, an asset without a direct correlation with the traditional financial market. Therefore, when this market collapses due to economic, political or social instability, the assets reserves of value maintain their price, or even increase it.
For this reason, market analysts have compared Bitcoin to the quintessential store of value asset: gold. Comparing the characteristics of each one, and even calling BTC, sometimes, digital gold. Something that is not shared by defenders of gold like Peter Schiff, for whom while gold has a real value in the economy, Bitcoin is a purely speculative instrument.
However, the arguments of Schiff and other crypto skeptics have not made a dent in crypto users’ trust in BTC. Many of them are convinced that BTC will eventually beat gold, when the price of the cryptocurrency takes off again as it did in 2017, increasing exponentially once again. An idea shared by Michael Saylor on his Twitter account:
«I agree with @APompliano that it is dangerous to think that Gold and Bitcoin are similar and complementary investments. When the Bitcoin Dragon emerges from its lair, the first thing it will eat will be the Kingdom of Gold».
In this way, Saylor agrees with an article written by Anthony Pompliano, in which the crypto influencer defends the superiority of Bitcoin over gold. Predicting that in the near future Bitcoin will end up sweeping gold, becoming the active reserve of value par excellence of the entire world.