Bitcoin (BTC) is proliferating and many think it will soon replace gold in store of value and maybe replace it entirely. Even though Bitcoin has gone through a big loss, it still has the chance to rise to surpass gold.
In a recent interview with Daniela Cambone Michael Saylor, the MicroStrategy CEO said:
"Conventional critics and mainstream analysts don’t get the crypto economy, don’t understand Bitcoin, and they hate volatility […] Bitcoin is going to gradually demonetize gold over time, gold will go to the utility value of gold, but it won’t be adopted as money in the 21st century."
Saylor said that individuals want to make money quickly which could be the cause for the rise in Bitcoin value. He said:
"The market looks like it’s bottomed where its fundamentals are emerging as institutional investment grade asset, being embraced by regulators, legislators, and large-scale investors."
Bitcoin surpassing gold is a far reach but not completely impossible. Many people invest in the asset with the vision of “quick money,” which could eventually help it get further and rise higher in value than gold itself.