“Bitcoin (BTC) Is Gold 2.0. It Matches or Beats Gold across the Board”

Some crypto enthusiasts see Bitcoin three
directions; as a store of value or as a digital currency, that is a medium of
exchange, or as both.

For Tyler Winklevoss, the co-founder of
Gemini, a cryptocurrency exchange, Bitcoin is a store of value that has better
features than Gold. He also seems to conclude that with differing market caps,
Bitcoin is undervalued. In a tweet he says:

“Bitcoin is Gold 2.0. It matches or beats Gold across the board. Its market cap is approximately 140 billion; Gold’s market cap is approximately 7 trillion. Do the math.”

Making such comparisons on Twitter attracted
opinions from both Gold and Bitcoin supporters.

For instance, Mati Greenspan, a senior market analyst at eToro, chose to point the strengths in both Gold and Bitcoin.

According to Greenspan:

“Bitcoin is digital Gold and has advantages over regular Gold. However, physical Gold also has advantages over Bitcoin. It can be used to make jewelry or technology and can be used in the event of a total system meltdown. If the power goes out, you can’t use Bitcoin.”

Are there Similarities?

But do the two have a resemblance? Yes, to some degree. Comparing Bitcoin and Gold indicates that in terms of investment opportunities, both are speculative in nature. Additionally, both attract attention globally, they have a limited supply, they are impossible to counterfeit, and they are expensive to mine.

Another significant similarity between Bitcoin
and Gold is they are capable of helping their owners to sail safely through an
economic crisis. Due to the two being seemingly identical stores of value,
Bitcoin became digital Gold.

Despite being twins, they have qualities that
set them apart. Fortunately, their differences help propel Bitcoin to a higher
level than Gold. For instance, Gold is…

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