Bitcoin beats gold at its own game, according to Tyler Winklevoss, co-founder of the Gemini crypto exchange.
“Bitcoin is better than gold when it comes to gold, and it achieves it by a margin of 10 times or more, not just incremental, ” Winklevoss tweeted on September 21.” said.
Over the past decade, the price of Bitcoin has risen significantly, passing many milestones. For many, Bitcoin is now seen as a store of value rather than a trading currency, and the digital currency is often compared to gold, a method of storing value that has been used for thousands of years and has proven itself over time.
“I don’t understand why there’s a race between gold and Bitcoin, ” a crypto investor called NebraskanGooner wrote on Twitter. I see both as a means of value retention,” he said. NebraskanGooner is also the founder of LVL, a banking solution in the crypto field.
Winklevoss also added a table comparing the two entities to his social media share. Gold prevailed in only one of the seven categories: the total amount of money held in wealth. Gold has a market value of $9 trillion, while Bitcoin has a market value of $200 billion. Apart from that, Bitcoin has prevailed in terms of rarity, durability, portability, divisibility, warehouse ability, and fraud difficulty.
Bitcoin attracted attention in 2020 as a store of value, with many mainstream giants investing heavily in the asset.
