Can Bitcoin replace gold?

With the digitalization of the world, Bitcoin can take on the role of gold, says Digital CEO Data CEO Mike Alfred.

“I see how Bitcoin will replace gold fours hardest money for those with long-term plans.
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Young people are far more interested in Bitcoin in a world where the economy is becoming more online and virtual. ”

Bitcoin has come a long way since its inception. During the period when the flagship cryptocurrency rose from under the dollar to $ 20,000, it changed several roles – everything from a currency for transactions to a financial asset, according to analyst PlanB.”

The best uses continue to be in emerging markets, where monetary instability and inflation make saving in local currency risky. Alfred added.

Venezuela was hit by severe inflation – 10,000,000% by the end of 2019. In this fiat crisis, Bitcoin has become extremely popular.

“With the adoption of Bitcoin, it will be increasingly used in financial transactions and will be accepted by more tax authorities.
 
In time, Bitcoin will be fully integrated into the global economy. ”