Bitcoin is the “perfect asset” for the next 1,000 years, but it needs far bigger flows to compete with the US dollar and gold, a Bitcoin OG said.
Bitcoin OG Willy Woo said Bitcoin is the “perfect asset” for the next 1,000 years, but it won’t overtake the US dollar and gold unless it attracts significantly more capital.
“The thing is, you dont get to change the world unless this monetary asset — in my opinion, the perfect asset for the next thousand of years — does not get to do its job unless capital flows in and gets big enough to rival the US dollar,” the Bitcoin investor said at the Baltic Honeybadger conference in Riga, Latvia, on Sunday.
Bitcoin’s market cap currently sits at $2.42 trillion, less than 11% of gold’s $23 trillion market cap, while the US dollar money supply sits at $21.9 trillion.
Woo said at least two obstacles hinder Bitcoin from becoming a world reserve asset.
Read more
Source link
