Two spokespeople today compared Bitcoin to gold, with the cryptocurrency cryptocurrencies are digital currencies that use cryptographic technologies to secure their operation. taking the lead for best performance.
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Many have compared Bitcoin the biggest and most popular cryptocurrency in the world. It is a decentralized digital currency that enables users to make trustless peer-to-peer transactions. con el oro. Desde el influencer en finanzas, Robert Kiyosaki, quien ha dicho que Bitcoin gold is booming and gold is stagnant even Steve Wozniak himself, co-founder of Apple, who in July 2021 said that Bitcoin was better than gold, many have been the spokespersons who have recognized the current superiority of the main cryptocurrency over the metal.
Today, by chance, two statements comparing the two have come to light simultaneously. In the first one, the founder of Nexo, Antoni Trenchev, says that Bitcoin is “gold 2.0” and will reach “USD $100k” this year”. In the second one, Wharton Business School professor Jeremy Siegel claims that BTC is the gold of the millennials.
Trenchev:Bitcoin, oro 2.0, will double
Speaking con CNBC the founder of the cryptocurrency lender Nexo revealed that there are “two simple reasons” why he believes that the value of the Bitcoin will have more than doubled from its current levels by mid-year.
In the first place it stands out:
“Every time investors in the broader community dump a sudden sell-off of digital assets. Bitcoin, it performs significantly better. This has been the case in 2020 when it recovered about 1000%, and on top of that, it recovered another 63% [in 2021]. I’m pretty bullish on bitcoin. I think it’s going to hit 100k this year, probably in the middle of the year.”
Secondly, it says:
“We see institutional adoptions quietly persevering companies building their treasuries by filling them with Bitcoin. And also, the broader issue of macroeconomic realities and cheap money, in my view, is here to stay, which is great for cryptocurrencies, which is an inflation a general increase in prices and fall in the purchasing value of money. hedge and gold 2.0″. .
He also argues that the rate hike will cause a fall in the equity equity is the funds that would be returned to a company's shareholders if all of the company's assets were dissolved and all debts were paid off in the event of liquidation. and bond markets. His explanation is that there has not been much political wheeling and dealing to sustain any power through any kind of correction a correction is a pullback of an asset’s price of at least 10% to adjust for over-valuation. in traditional financial markets in recent years. Therefore, he believes that the vast majority of people are wrong about the Fed’s rate hikes.
Crypto and Latin America
He gives the example of Latin America and says that many will follow the example of El Salvador :
“I think Latin America is an example. Economies with some difficulties managing their own currencies and their respective central banks face some challenges, so they are definitely all potential candidates to adopt cryptocurrencies as legal tender.
Trenchev also commented that it’s incredible how far cryptocurrencies have come, and Bitcoin in particular, in just 13 short a trading technique in which a trader borrows an asset in order to sell it, with the expectation that the price will continue to decline. In the event that the price does decline, the short seller will then buy the asset at this lower price in order to return it to the lender of the asset, making the difference in profit. years and that this is both a store of value and a medium of exchange, providing the best of both worlds. and that it is “definitely something that can boost a lot of the economies in the region that are facing some problems.”
Siegel: Millennial Gold
Bitcoin has replaced gold as an inflation hedge for young investors, according to Wharton Business School finance professor Jeremy Siegel.
Gold’s performance was “disappointing” in 2021, Siegel said in an interview with CNBC Squawk Box.
Argumentó Siegel:
“Let’s face it, I think Bitcoin as an inflation hedge in the minds of many younger investors has replaced gold. Digital digital technologies are these electronic tools that have the ability to generate, store or even process data. currencies are the new gold for Millennials. I think the gold story is a fact that the younger generation is looking at Bitcoin as a replacement.”
Siegel also recalled that previous generations witnessed how gold had soared during the inflation of the 1970s. “This time, no is in favor.” he added.
Gold, which traditionally emerged as an asset class providing a hedge against inflation, failed to meet investor expectations in 2021, posting its worst year since 2015 and falling around 5% to close refers to the closing price; similar to the same term used in stock trading. the year at USD $1,800. Despite massive price fluctuations over the course of 2021, BTC rose around 70% over the year.
Sources: CNBC, Finbold , Cointelegraph , archivo
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