Home Crypto Bitcoin Bitcoin is the better version of Gold

Bitcoin is the better version of Gold

17
0

#bear #market #crypto #bitcoin

“A Shark Tank investor lays out what he thinks must happen for Bitcoin to take off as the better version of gold” –Paul Ebeling

In a new interview with billionaire Mark Cuban says BTC faces a problem of relative lack of utility and resulting lack of mainstream popularity.

“Part of the challenge for Bitcoin is, even with the Lightning Network, improving and becoming more popular. There’s not enough utility, but that’s the same problem gold has. Nobody needs gold jewelry. People like gold jewelry and want it, but they don’t need it. So there’s a utility issue with Bitcoin but, that said, like gold, it’s a good store of value.”

The billionaire then explains why he keeps BTC in his portfolio and what he thinks is bound to push Bitcoin to new highs.

“It’s a better store of value when you’re trying to be diverse in your portfolio, and that’s why I own it. Because I think even though I have no idea where it’ll go, I have no idea how low it will go, but I do know that once there are applications with smart contracts not on Bitcoin but across crypto that regular people use and figure out, just like streaming was a better version of getting audio and video than traditional media was when there’s better reason to use crypto applications, that’s when it takes off.”

Mr. Cuban also says Bitcoin works as a type of digital gold.

“I always analogize Bitcoin as it’s a better version of gold. It’s a digital version of gold and I truly believe that.”

Have a prosperous week, Keep the Faith!

Previous articleCrypto: Battling the Bears 
Next articleHealth: Vitamin B6
Paul A. Ebeling, a polymath, excels, in diverse fields of knowledge Including Pattern Recognition Analysis in Equities, Commodities and Foreign Exchange, and he is the author of "The Red Roadmaster's Technical Report on the US Major Market Indices, a highly regarded, weekly financial market commentary. He is a philosopher, issuing insights on a wide range of subjects to over a million cohorts. An international audience of opinion makers, business leaders, and global organizations recognize Ebeling as an expert.