EOS founder: "Over the next two decades, Bitcoin will replace gold"

17 Mar, 2019 | Updated: 17 Mar, 2019
by Will Heasman
Opinion
EOS founder: Over the next two decades, Bitcoin will replace gold

While Bitcoin (BTC) reaches a milestone breaching into back into the realms of possibility above $4k, EOS founder and CEO of Block.one, Brendan Blumer has suggested another milestone is within sights, BTC replacing gold…

This latest bullish auguring came via Twitter (as all the best predictions do).

Blumer explicitly stated within a Tweet that over the next two decades Bitcoin would replace gold as a leading store of value:

This rather vague tweet was met with the usual bullish sentiment you’d expect from a BTC prediction, along with the typical scepticism:

With gold’s estimated market cap of approximately $8 trillion, BTC surpassing the leading store of value and replacing it, would mean we could see an approximate price tag of $380k per BTC.

Many propagators of crypto have pointed at the possibility of BTC replacing gold, one such analyst, Willy woo, suggests that while the scarcity of both BTC and gold, drive their value, “mathematic scarcity” as is the case with BTC, outweighs “perceived scarcity” as per gold, making BTC the clear winner in terms of value placed upon a safe haven commodity:

Read more: Australian banker quits to work with cryptoWilly Woo says Bitcoin will "easily" pass gold's $7.8 trillion market cap

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