BITCOIN AS A DIGITAL GOLD
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. dollars dominance in the global economy.
At January of 2020, the similarities between Bitcoins and golds 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 Bitcoins 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?More check on::
https://bizzysumbi.blogspot.com/2020/02/bitcoin-as-digital-gold.htmlDepend on how we treated Bitcoin mate,because for those using this as a payment for transacting then this is a different approach while others are taking this as a Holding and with that maybe Bitcoin stands as GOLD in digital ways.
We know how gold has being used now,for investment and not for payment because OLD age ha already passed when people use gold in trading.