Bitcoin Gold Interview! Do I Need To Reconsider? BTG
Bitcoin Will Supplant Gold as the Most Trusted Store of Value: VC Lou Kerner
Gold has been the global store of value for thousands of years, but one cryptocurrency-focused venture capitalist thinks bitcoin will eventually capture that mantle.
Lou Kerner, co-founder of CryptoOracle, which provides cryptocurrency advisory services and operates a venture fund focusing on decentralized technologies, believes bitcoin offers something “much, much better” and will take gold’s place as the top store of value, he noted on a recent CNBC interview.
It may take as long as five years or more, but Kerner said he expects people using gold as a store of value to switch to bitcoin.
Kerner’s views about bitcoin’s attributes are amongthe reasons being cited by cryptocurrency enthusiasts, who maintain the cryptocurrency’s future is bright despite the price decline that has occurred. The interviewer noted that Brian Kelly, another cryptocurrency fund operator who is also a CNBC contributor, recently said the “nervous money” could be exiting bitcoin – those who recently purchased it but can’t handle the volatility.
Kelly Btc Gold Coin Price , founder of BKCM and a contributor to CNBC’s Fast Money,
said in May that the adoption of cryptocurrency by financial institutions
like the New York Stock Exchange and Goldman Sachs would cause the cryptocurrency market to surge in the short- to mid-term. When bitcoin’s price surpassed $8,000
in late July, Kelly said the rally would be long-lasting
Despite its 70% price drop, bitcoin surpassed gold in settlement volume
Asked if he agrees with Kelly about “nervous money” leaving the cryptocurrency market and if such a development is healthy, Asked if he agrees with Kelly about “nervous money” leaving the cryptocurrency market and if such a development is healthy Btc Gold Coin Price
“Forty years later, it’s the same as everything else,” Kerner said of junk bonds. “We think bitcoin is just going along that same structure.” Any new asset in its early days is extremely volatile, he said.
“Nobody knows how to price it, and that’s exactly what we’re seeing with bitcoin,” he said.
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