Bitcoin Will Replace Gold Soon: Block.One CEO Believes

Bitcoin Will Replace Gold Soon: Block.One CEO Believes

Bitcoin is often called “digital gold”. There is a clear reason for this since some people, especially millennials, prefer to use this top-tier cryptographic currency as a store of value. However, it is too early to speak that nowadays BTC is a full “succedaneum” for pure gold.

Brendan Blumer, a crypto expert, CEO of block.one and a colleague of Dan Larimer, believes that over the next two decades, the leading cryptocurrency will replace gold as a preferable commodity to store value.

Some commentators write that two decades is too long, while others believe that it is unwise to give prophetic claims, because people know anything about the futurity.

We think that such a scenario is possible. However, theoretically, BTC might be replaced by other, more technological cryptocurrency, or become less decentralized due to the centralization of mining pools, which may negatively influence its future.

It should also be noted that Business Insider expert Frank Holmes believe that bitcoin will never replace gold due to several reasons, including time-tested applications of gold and the precious metal’s non-requiring electricity to trade.

Anyway, in our opinion, BTC has a promising future.