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Bitcoin is a Much Better gold than gold itself, Tyler Winklevoss says
Bitcoin might never escape its ongoing comparisons to gold. According to Tyler Winklevoss, co-founder of the Gemini crypto exchange, Bitcoin beats gold at its own game.
"Bitcoin is better at being gold than gold -- and not just incrementally, but by an order of magnitude or 10X better," Winklevoss said in a Sept. 21 tweet."
Over the last decade or so, Bitcoin has risen dramatically in price, surpassing numerous landmark price comparisons along the way. For many, it is now seen more as a store of value than a transactional currency, and the public often compares the digital coin against gold; a time-tested method of value storage used for thousands of years.
"I don't understand why there is a click here rivalry between gold and Bitcoin", NebraskanGooner, a pseudonymous crypto trader on Twitter, informed Cointelegraph. I consider them both a store of value, he added. NebraskanGooner is also the founder of LVL, a banking solution in the crypto space.
In his social networking article, Winklevoss included a graph pitting both resources against each other. Out of seven classes, gold ruled one -- the total amount money held in the asset. Gold has a market cap of $9 trillion, while BTC has a market cap of $200 billion. Otherwise, Bitcoin took the win for scarcity, durability, portability, website divisibility, storage and fake difficulty.
Bitcoin has also recently gained further notoriety as a store of value read more in the mainstream public eye in 2020, as numerous mainstream giants have invested heavily to the asset.
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