Is Bitcoin A Store of Value or A Currency: What Experts Think
Bitcoin or any Cryptocurrency is a better store for value or not, is a billion-dollar question. Many experts think that Bitcoin is digital gold and can help you provide better returns in the future. It would be best if you held the patience to get the best investment results from the Bitcoin investment. It can deliver you the required result that you are craving.
Other experts believe that Bitcoin can deliver better results on their investments. You need to understand the market trends before investing in Bitcoin. The best part of Bitcoin is it will help you to develop your investment pattern. If you want to invest in Bitcoin, you need to apply a bearish attitude. Otherwise, you cannot get the desired result you want.
What Experts Think About Bitcoin?
Several experts have different types of opinions about Bitcoins, but the most common opinion among them is Bitcoin can prove to be digital gold in the Future. Let’s go through some of the expert’s opinions in this article.
He is currently the CEO of Human Future and one of the most renowned professors of UC Berkeley. According to him, like gold, the value of Bitcoin is also very unstable. Until and unless any government regulation or any financial institution takes charge to control Bitcoin’s transaction, it will remain an unstable currency. You cannot bet on it with your eyes closed that it will provide you with better returns for your investment. It will take time for Bitcoin to become a stable and acceptable currency in the world. It is the opinion of Jonathan, but you may have a different perception about it.
According to Zhao, Bitcoin is a better option than Gold. Changpeng Zhao is the CEO of Binance. Zhao believes that Bitcoin can provide a better store for value in the future. It can deliver you the right value you are searching for in your returns. You need to wait for the right time when its value will fall. Then you can buy and for the time when its value will rise so that you can sell it. You need to be patient while you are dealing with Bitcoins. You cannot make any rash decisions while considering the investment pattern of your Bitcoin.
Tone Vyas is an expert trader and a crypto analyst. According to him, Bitcoin can prove to be the greatest store of value in the world’s history. He had accepted that Bitcoin is volatile, but the scope of growth in the Bitcoin investment is very high. No one can take away the Bitcoin from you, not even the hackers. It cannot be stolen like that of the gold or other property. You need to keep your patience intact over the Bitcoin if you want to make your investment in it. Hence, in the crypto-world, your patience can make a difference in the future.
According to Joseph the Lecturer of New York University and the author of Cryptocurrency, the store for value in Gold’s case is quite prominent. In case the store for the value of the Bitcoin is not very clear. You need 10 long years to understand the market acceptability of Bitcoin. The trust for Gold is more compared to Bitcoin according to him. He considers Gold as a more stable valuable asset compared to that of Bitcoin.
Hence, you can get the idea from the expert’s opinion that Bitcoin is a volatile currency, and you need to put your efforts into understanding the market. You can also read from here bitcoin trading account about the other experts’ opinions about Bitcoin and other Cryptocurrencies before investing your money in Bitcoins. Make sure that you make the right choices for your investment in cryptocurrencies. It will help you to develop your investment pattern.