Once BTC overtakes gold, Bitcoin will be $350,000, 'the flip is inevitable'

30 May, 2019
by Joeri Cant
Bitcoin
Once BTC overtakes gold, Bitcoin will be $350,000, 'the flip is inevitable'

A well-know crypto trader, going by the handle RhythmTrader, says the only flipping he cares about is the one where Bitcoin flips gold. 'The flip is inevitable.'

RhythmTrader is only interested in one kind of flipping, and that is the one where the world's number one cryptocurrency, flips gold.

The 'explorer of Bitcoin and cryptocurrencies', states that in today’s digital age, Bitcoin as a digital storage of value, will flip the actual physical gold, which according to him, is inevitable.

'Once BTC overtakes gold, each Bitcoin would be worth over $350,000', he tweets.

The RhythmTrader isn't the only one who thinks Bitcoin will eventually 'flip' gold.

As we all know, there will only ever be 21 million Bitcoin in existence, with a vague approximation of the last Bitcoin block to be mined in 2140. Bitcoin is scarce and has utility as a superior way to store and exchange wealth.

Bitcoin's scarcity already had a huge impact on the demand for Bitcoin and this will continue as time goes on and supply continues to decrease. There is no doubt that digital scarcity will make Bitcoin exponentially more valuable over time.

Many make the claim that this set market cap makes Bitcoin already more desirable than other assets. More desirable than gold even, which could end up being replaced by Bitcoin entirely.

What do you think? Will Bitcoin eventually 'flip' gold? let us know in the poll below.

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Poll

Bitcoin or Gold?

(149 votes)

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