"Bitcoin is becoming digital gold, if it doesn't die" says Ex JPMorgan Ex ec

03 Dec, 2018 | Updated: 03 Dec, 2018
by Manon Bridou-Koenig
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Bitcoin is becoming digital gold, if it doesn't die says Ex JPMorgan Ex ec

One of JPMorgan’s former executives, Alex Gurevich, has now published an op-ed, in which he argues that Bitcoin is increasingly becoming "digital gold".

Alex Gurevich, ex JPMorgan’s Global Macro division has published an opinion editorial on Yahoo! Finance, poses the question of Bitcoin as an existential one; where ”what doesn’t kill you makes you stronger”.

He believes that although the development of various altcoins and forks has risen and fallen, time is good for Bitcoin.

Despite the rise and fall of various altcoins and fork considerations, ’time’ works FOR Bitcoin, not AGAINST it. Every day it doesn’t disappear, it gets one step closer to a permanent status of digital gold” Gurevich writes in his op-ed.

Bitcoin is becoming digital gold step by step, as Gurevich stated that precious metals had always been used as a means of exchange for centuries, as they “do not oxidize easily and remain in an uncorrupted form”.

He also explains that the advantage of Bitcoin is in the process of outlasting its altcoins competition.

Given the historical trading pattern in precious metals, the buy of Bitcoin in 2015 was relatively easy. But now, at 20X (including fork) the early prices, it is a more complicated trading dilemma. Bitcoin may or may not be a “bubble,” but it is important to remember that it did have a major ‘burst’ in 2014 and, even this year, the market has witnessed Bitcoin endure two meaningful corrections.

Going further he adds that “every time it survives and stabilizes, it gets extra gold credibility.”

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