According to Tyler Winklevoss, co-founder of the Gemini cryptocurrency exchange, Bitcoin is ahead of gold in its own game.
“Bitcoin is better than gold – not just gradually, but by an order of magnitude or 10 times,” Winklevus said in a September 21 tweet.
Over the last decade or so, the price of bitcoin has skyrocketed, surpassing many historical price comparisons along the way. For many, it is now seen more as a store of value than a transaction currency, and people often compare digital currency with gold; A time-tested method of preserving value for thousands of years.
“I do not understand why there is such a competition between gold and bitcoin,” Nebrascan Guner, a borrowed coin seller on Twitter, told Cointelegraph. He added: “I consider them a valuable store.” NebraskanGooner is also the founder of LVL, a banking solution in the crypto space.
In his post on the social network, Winklevoss included a plot where the two origins are opposite. Of the seven classes, gold excluded one category – the total amount of money he originally had. The market value of gold is $ 9 trillion and the market value of bitcoins is $ 200 billion. On top of that, Bitcoin has won through scarcity, durability, portability, portability, storage and difficulty with counterfeiting.
Bitcoin has also recently gained a bad reputation as a store with value in the eyes of the public in 2020, with many big giants investing heavily in assets.