Jimmy Song compares Bitcoin to real estate, says BTC is a "store of value"

28 Apr, 2019 | Updated: 28 Apr, 2019
by Richard Allen
Opinion
Jimmy Song compares Bitcoin to real estate, says BTC is a store of value

Prominent Bitcoin influencer and developer, Jimmy Song recently spoke about Bitcoin’s volatility and referred to the coun as a “store of value.”

Even though Bitcoin was originally developed as an alternative to cash, there are many in the crypto space that argue Bitcoin is far too volatile to replace fiat. In a recent Off the Chain video, Jimmy Song argues that Bitcoin is a store of value like real estate of stocks. He notes that like any “store of value asset,” Bitcoin’s volatility doesn’t make it any less of a currency.

Song draws a comparison between Bitcoin and real estate and stocks – the traditional stores of value. He explains that the volatility in those traditional stores of value was present and the general public used those assets to save money.

The value of stocks fluctuate on a daily bases and there are certain elements of risks, yet people still choose it to make and store money. Bitcoin functions in a similar fashion, Song argues. He adds that, like real estate, Bitcoin has been growing in value of the last decade.

Song goes on to explain that, in many countries, Bitcoin is competing with the US dollar as a store of value asset. Further, Song argues that Bitcoin will outplay the US dollar in countries “with bigger monetary base inflation.”

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