Thing is, for so long, Gold has been used as a medium of exchange. Thanks to the natural resource’s inherent qualities as anti-corrosion and scarcity, the asset is deemed valuable and is therefore, coveted. Likewise, Bitcoin is fashioning itself as a digital equivalent of Gold. As a pioneer digital asset, it is valuable, scarce and limited.
Besides, thanks to some intrinsic value as a global asset that has metamorphized, functioning as a dual store of value, medium of exchange as well as a secure settlement layer rivaling legacy networks in Visa and MasterCard, analysts are optimistic of what the future holds.
A Russian Bitcoin supporter and facilitator of Blockchain investment in Russia, Vladislav Ginko, now says individuals who invest in Bitcoin would not have to worry about the financial future of their families. Here’s what he said:
“You’ll never stop worrying about the financial future of your family until you invest money into Bitcoin.”
In another tweet, the Russian Professor said that Bitcoin was a prime cryptocurrency that the wealthy were investing in:
“For wealthy Russians I deal with here in Moscow Bitcoin is a prime cryptocurrency to invest since it’s one treaty altcoins haven’t: it’s truly decentralized and disappearance of Satoshi Nakamoto only proves it.”
Obviously, Vladislav, is a Bitcoin bull and a firm believer of the revolutionizing power behind blockchain. As a base layer powering smart contracting and cryptocurrencies, governments have shown keen interest despite blatant opposition in India where officials are of the opinion that they are scams, Ponzi schemes that should be banned in a bid to protect investors.
“When it comes to investor protection, the IEPFA has to take a stand against certain things. Against Ponzi schemes, we are taking a stand. We think that cryptocurrency is a Ponzi scheme and it should be banned.”
Bitcoin as a Standard and Premier Money
Even so, the currency’s supporters now claim that not only will Bitcoin be a standard, with mega valuation but will be the premier money in a record 25 years. That’s a quarter century, a half a decade short of where another Bitcoin bull project the coin to test a $1 million. In his argument, Max Keiser, the co-founder of Heisenberg Cap tweets saying:
“It took Gold thousands of years to establish itself as our premier money. It will take Bitcoin less than 25years to do the same.” His comments were further supported with a user chipping in, expressing her views:
“Crypto will establish its power and it will happen in a small amount of time with the rate adoption is happening. It will revolutionize the financial solutions, security and privacy. As the world gets more digital, projects will show its power, not only Bitcoin.”
Do you think Bitcoin will be worth $1 million in 20 years and be a premier money in 25 years?