The present article is intended to throw an open question in the room. Again and again, the following Statement is made: Bitcoin – the digital Gold. Bitcoin the Store of Value. The but is that really so? Peter Schiff has his own investment firm and long-standing experience on the capital market, doubts. Therefore, I want you, the reader, the following question and to stimulate a discussion on Telegram:Bitcoin Is digital Gold and works for BTC as a Store of Value? What are the reasons for or why Bitcoin can not act, in your opinion, as a digital Gold? We are looking forward to your opinion. At the end of the article you’ll find the Button to our Telegram group.
Contents
Bitcoin as a digital Gold and a Safe Haven?
28. August, ship in a series of Tweets, who stated that Bitcoin does not have re-passed once the “Safe Haven Test”. Although BTC had in the past, of course, price fluctuations, some analysts and media to refer to Bitcoin as a safe haven against turmoil in the traditional markets to hedge.The ship, however, is of the view that Gold and certain Fiat currencies represent a better Alternative. As ship said:
Bitcoin does not pass the Safe Haven Test again. On Friday, as the tension in the trade conflict has sent global stock markets down, sought investors took refuge in Safe Haven Assets. The Japanese Yen, the Swiss franc and Gold in particular were able to benefit from it. Bitcoin fell more than the stock markets!
Bitcoin has again failed the safe haven test. On Friday, as escalating trade tensions sent global stock markets plunging, investors sought refuge in the monetary safe havens. The Japanese yen, Swiss franc, and especially gold all moved higher. Yet Bitcoin plunged by more than stock!— Peter Schiff (@Peter Ship) August 28, 2019
BTC supporters argued that the price of Bitcoin fell despite the loss in Value in August. The ship countered that the Bitcoin were losses on the stock market, while the precious metals had risen further.
“Plunging” pic.twitter.com/9Q9zjDemZH— PRINCE ☄ the iPhone app (@prince___28) August 28, 2019
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Bitcoin as a digital Gold, or digital fool’s gold?
The ship was criticized then, strong of the Community. So he should have too fixated on Bitcoin. Ship back, however, has this clear – so he sat still for Gold as a true safe Harbor (engl. the real thing), and against economic turmoil hedge. Bitcoin is the digital Gold of fools (engl. digital fool’s gold).
Not true. I just want to make sure that people who are correctly worried about a coming crisis in our U. S. dollar-based fiat monetary system, and who are therefore looking for a hedge, don’t make the mistake of buying digital fool’s gold instead of the real thing!— Peter Schiff (@Peter Schiff) August 29, 2019
At the end of this article, the two sides should be obvious. On the one hand, there are representatives such as Peter Schiff, the distance itself completely clear of Bitcoin as a digital Gold and a Store of Value. On the other hand, there are also good and weighty arguments for why Bitcoin is an excellent Store of Value.Bitcoin is a Store of Value? What is your opinion on the topic of Bitcoin is the digital Gold? We look forward to your opinion! Come in to our Telegram Chat and talk with the experts and the Community. Subscribe to our News channel to not miss any news more.