Will Bitcoin Become Considered as Digital Gold?
With Bitcoin’s very successful week, managing to break past its resistances and climb above $7000, journalists, news and finance publications, Twitter and more have seen or heard the term “digital gold.”
The head of digital asset solutions at VanEck/MVIS, Gabor Gurbacs appeared on CNBC, explaining his point of view on how significant Bitcoin could become. With professional experience in creating secure, liquid and investing funds, many experts are saying that Bitcoin will act the same way gold has been treated traditionally as a means of cutting down on risk and a massive decline to its market.
Gurbacs added that gold is close to seven trillion dollars in global markets. Should around ten percent of gold’s trillion-dollar industry be done, Bitcoin stands a chance. Bitcoin promises to be the leading figure for all other altcoins if cryptocurrencies replace today’s traditional systems and take over. In addition, he say’s Bitcoin will the base value design that all over coins base themselves on.
Explaining further, he named Bitcoin digital gold and spoke about its use and popularity. As he says, malicious individuals or companies looking to provide significant risks, resorting to gold or digital gold is often the best idea for many of them.
Cryptocurrencies, prior to their global acceptance, must first ensure that the tech itself is cemented and fully operational and capable of hosting daring investors looking to continuously spend the cryptocurrencies. As a result, the digital asset market will see a tidal wave of institutional investors.
Gurbac and the company believe the requirements surrounding Bitcoin will be achieved. He goes on to say that there is a firm belief in enough liquidity as well as pricing standards and that merging BTC with the financial industry with exchange-traded funds, stocks and more. If enough investors and widespread acceptance do happen, digital gold may dip its hands into the physical gold market.