Quote from: Abiky on April 25, 2025, 12:09:15 PM

I hope so. I mean, that's what everybody wants. For Bitcoin to become the next digital Gold. But for that to work, governments, banks, and institutional investors need to ditch Gold for good. Such a transition doesn't happen overnight. BTC will get there at a slow and steady pace.

One of the main benefits of BTC vs Gold, is the ability to track coins on the Blockchain (it's a feature, not a bug). You see, governments with a Bitcoin reserve will be able to track all of their holdings in a breeze. They will also be able to provide proof to the public if they want to. With physical Gold, they need to weigh and count everything to manually input the data on the system. Gold reserves also need to go through a lenghty auditing process. Then there's the problem of the added bulk of holding so many Gold bars and coins. With Bitcoin, you can carry millions (if not, billions) of dollars on a small piece of paper or digital store medium hidden from plain sight (portability).

Let's see what happens within the next 10 years. At the pace Bitcoin is growing, I'm sure it will surpass Gold's market cap soon. Cheesy

The scenario of banks and governments abandoning gold is unlikely because gold has been a trusted asset for thousands of years. They would never give up a trusted asset like gold for a relatively new asset that has not been around for a century and has never experienced any major recession or crisis in the world . Instead, think of a scenario where both exist. It's more realistic.

In terms of storage and transportation, gold is really inconvenient and bulky and cannot be compared to bitcoin but it is tangible and real. Meanwhile, virtual assets like bitcoin are easy to store and move but will face risks of technology, cyber attacks or just sending to the wrong wallet can be lost forever...For national reserve assets of up to trillions of dollars, they will not take risks, they need absolute safety and that is why until now they still choose physical gold.