Bitcoin's recent performance has attracted attention from various parts of the media as well as major institutions . #Deutsche #Bank published a report stating:
"Bitcoin is too important to ignore now that it is the third largest currency in terms of total value in circulation."
✅Money of the Future
In a recent podcast, Matthew Mežinskis, creator of the Crypto Voices Global Monetary Base project, offered his views to discuss how Bitcoin stands out against sovereign currencies:
Saying that he was quick to draw parallels between gold, Bitcoin and fiat currencies, Matthew said:
“Gold and silver are the main currencies of the past. Government reputation is the basic currency today. It consists of both physical cash and a digital cash component. Bitcoin could be the staple of the future. “
He pointed to the erroneous comparison between Bitcoin and other coins.
“Anyone who wants to value bitcoin always jumps to“ narrow ”or“ broad ”money sources (M1 / M2 / M3). This is wrong. This is because these money supplies represent "demands" in the money base supply. “
This particular analogy describes an important concept that people tend to forget. Today, fiat money is a combination of both physical (banknotes and coins) and digital (bank reserves in the central bank) components, and the digital part is the "account" each bank holds in its own central bank.
“Another common mistake when comparing bitcoins to the analog currency world is to look at a simple chart like the US M1 or the Eurozone M2. Again, besides being wrong with the M1 / M2 / M3 comparison, this method is inadequate because Bitcoin is global. "
He also added to the above-mentioned comparison:
“We cannot look at the base money supply of one or two nation-states to measure any market depth. Example should be global "
Bitcoin was limited by the protocol to 21 million supply by 2141, and every day digital asset seems more likely to be in circulation as the base currency of the future: a deep and balanced supply of final money.