CRYPTO BUSINESS

Nearly Bitcoin referred to as a digital gold start from last year but 2019 when vocubarly became much more realistic. In fact, the idea of Bitcoin as digital gold became so prevalent in 2019 that U.S. Congressman Brad Sherman (D-CA) claimed the crypto asset may be a threat to the U.S. dollar’s dominance in the global economy.

At January of 2020, the similarities between Bitcoin’s and gold’s price movements around increased due to tensions between the United States and Iran did shift the price of gold and Bitcoin, However, longer-term measurements of the correlation between Bitcoin and gold still indicate there is a very little correlation between these two assets.

The digital gold use case is often referred to as Bitcoin’s core value proposition, so a closer correlation with physical gold could indicate a greater level of understanding and acceptance of this point from market participants. Additionally, the introduction of central bank-issued digital currencies could clarify the value proposition of something like Bitcoin in the minds of the general public.

How strong You support the Ideal?


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