Coinbase's institutional research analyst, David Han, dropped a report yesterday, highlighting Bitcoin's evolving status as digital gold. This increasing acceptance of Bitcoin as a 'digital gold' could potentially attract a fresh wave of investors into the market. This means that more demand brewing in this market ecosystem.
I actually thought that it had no effect at all. Because Bitcoin is different compared to gold, even though many people analogize it as 'digital gold', if we see that Bitcoin was developed not to be 'digital gold' by Satoshi, but as "A Peer-to-Peer Electronic Cash System". But today, people are starting to distort the true purpose of Bitcoin and make it an investment instrument rather than electronic cash, and I see that as a form of weakening of Bitcoin.