As the world becomes more digital, the pioneering assets of crypto Bitcoin (BTC) could take on the role of a valuable gold warehouse, according to the president and co-founder of Digital Assets Data, an analytical firm.
Since its launch more than ten years ago, Bitcoin has gone from less than one dollar to nearly $20,000. During this period, the asset has changed roles several times, from transaction currency to financial assets, and all between, according to crypto Twitter analyst PlanB.
For example, Venezuela has suffered greatly in recent years from inflation, which fell to 10,000,000% in the second half of 2019. However, Bitcoin has found greater popularity in the middle of such cash problems.
Not everyone sees Bitcoin in a positive light. BTC's economist and skeptic Peter Schiff has written several Twitter comments against Bitcoin, who prefers gold as an investment.
Bitcoin has recorded astronomical price rises over the last decade, which is often pointed out by participants in space cryptoj. Noting these statistics, Schiff predicted the coming years as a time for gold to shine, as Bitcoin is losing value.
