Making the comparison of bitcoin and gold is one that is thrown about a lot fo nowadays. It’s one that was inspired by grayscale Investments with an advert that made waves across crypto twitter and the rest of the social media outlets. Grayscale offers a Bitcoin Trust among multiple other digital asset trusts.
The advert definitely garnered some attention and now, hearing the gold/Bitcoin comparison is ten a penny. Following the debut of the ad, a lot of prominent crypto figures kept saying in the phrase “drop gold for Bitcoin”.
One half of the Winklevoss twins and co-founder/CEO of Gemini, Tyler Winklevoss has shared his thoughts on gold and Bitcoin on Twitter.
Bitcoin is gold 2.0. It matches or beats gold across the board. It’s market cap is ~140bil, gold’s market cap is ~7tril. Do the math!
— Tyler Winklevoss (@tylerwinklevoss) May 16, 2019
If Tyler Winklevoss’ scenario becomes a reality and Bitcoin matches or gets close the market cap of gold, then Bitcoin would be worth somewhere close $500,000.
This is a phenomenal number that is quite hard to believe, to be honest, but imagine what it would mean if BTC reached such highs.
Some crypto enthusiasts and influencers have had their say on the gold and Bitcoin discussion, with some saying that it is as dumb as it is a pipe dream.
Peter L. Brandt is a famous trader and is one of these bears that don’t see the comparison between the two assets.
“The Gold v. $BTC dialogue is asinine. Both assets have reasons for being an independent driver of valuation”