As crypto aficionados, we all know that. Bitcoin is the new gold, Bitcoin is the new global store of value, etc, etc. But tell that to a Wall Street analyst and you'll get a blank face (if you're not downright ridiculed for being stupid, that is). Until now.
To my surprise, I discovered a Forbes piece (by a contributor, not a full staff editor, but still) about how and why Bitcoin is the new gold of the modern world.
Apparently, Bitcoin is more popular than gold among investors, as a hedge against rising global uncertainties. Growing mistrust of national currencies, following dubious government policies, has pushed people into Bitcoin.
The author then goes into an interesting parallel between political tensions and the rise of Bitcoin. I confess it sounds plausible. According to this analysis, the recent rise of Bitcoin is due to the increasing North Korean instability. Almost half of the entire Bitcoin trading took place in Japanese Yen a couple of days ago:
Bitcoin trade in Japanese yen accounted for close to 46 percent of global trade volume, up from about a third a day ago; trade in Chinese yuan and South Korean won accounted for about 12 percent each; and US-dollar bitcoin trade accounted for about 25 percent.
It's becoming a common thing to say Bitcoin is the new gold, but it's the popularity of this approach in mainstream media which is a bit surprising for me. Surprising in a good way.
Read the full article in Forbes here.
I'm a serial entrepreneur, blogger and ultrarunner. You can find me mainly on my blog at Dragos Roua where I write about productivity, business, relationships and running. Here on Steemit you may stay updated by following me @dragosroua.
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If you're new to Steemit, you may find these articles relevant (that's also part of my witness activity to support new members of the platform):
The financial world is undergoing a major paradigm shift, no doubt about that.
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This is a good thing. I've heard one does not click on an unfamiliar post until they have seen it six times. The fact that Bitcoin is being spoken of highly by more people, and in respected avenues, can only do good things for all cryptocurrency.
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@dragosroua,
Forbes understood it now! But we understood it at 2014 onward :D Great post with a great news! I think it's time to celebrate it!
Cheers~
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Can we see $ 7000 by December ?
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amigo #resteemia at your service
btc already passed the gold. so, no way comparing it with gold :) nice work @dragosroua
ReSteemia
'UpVote ReSteem Comment'
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Valuable information for btc news. great post . thanks @dragosroua
100% like and resteem
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@dragosroua - "Bitcoin is the new Gold". Love this statement Sire. Oh God, this might be really very true. Because, my husband always keep saying that, Bitcoin is more worth than Gold. :D Interesting article Sire.. Really love it. Therefore, I wish to ReSteem your post Sire.
+W+ [UpVoted & ReSteemed]
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Well sayd man i will check that article. Have a great day, and thanks for sharing.
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Daily Learn some new from your post. Love to read it.
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Based on the rising price, I'd say it is the new gold. Thank you for your insightful post.
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US is no longer gonna be the big guy in the future, eastern culture is catchin in.
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Nice post. Liked, followed and resteemed.
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There is a definite shift to Bitcoin and less focus on traditional banking methods! @dragosroua
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Agreed that bitcoin is the new gold this time but anytime anything could be happen :-)
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Excellent post. It is a good thing when big names like Forbes talk about and recognize bitcoin. That means we will see more investors coming in and the coin market cap going up. Right now at $168 billion,what happens to the price of bitcoin/cryptos once it reaches 500B or a trillion :)
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Bitcoin is love and will always be :D
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It was only a matter of time when a huge outlet would mention that bitcoin has a bright and prosperous future. Hopefully this will give more exposure to bitcoin and the blockchain and we can have more people that invest into it.
We have already seen huge growth in the markets and I think there is more to come as the holiday season comes to an end and September opens its doors @dragosroua
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surprising is always good and btc is going to surprise all
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Good they are now starting to recognize it
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