CryptoQuant Analyst, Coinbase CEO Advocate for Countries to Prioritize Bitcoin Over Gold: Heres Why
The Coinbase CEO Brian and a CryptoQuant analyst have explained why it would be more beneficial for countries to prioritize Bitcoin over gold.Discussions surrounding Bitcoin's potential as a reserve asset have gained momentum, particularly after President Donald Trump signed an executive order exploring a digital asset reserve. As a result, industry leaders are now advocating for Bitcoin to replace traditional reserve assets like gold and oil. Analyst Insists Investors Should Prioritize Bitcoin over GoldAs these discussions gain steam, Axel Adler Jr., a CryptoQuant analyst, recently pointed to Bitcoin's impressive performance against traditional assets as an important factor, contending that it is more economically wise to prioritize Bitcoin over gold.https://twitter.com/AxelAdlerJr/status/1882762003514585598"I see no economic efficiency for investors in putting money into gold," Adler boldly stated. He highlighted that gold has seen a massive decline against Bitcoin in the past years.For context, over the last twelve years, the value of one ounce of gold fell from 732 BTC to 0.02 BTC. According to Adler, if Bitcoin continues to outperform gold at the current rate, the value of gold in Bitcoin terms could become negligible within a decade. He pointed out that Bitcoin has outpaced gold by an average of 37 times annually. The market analyst believes this trend will inevitably prompt major investors, including bankers and fund managers, to shift their allocations from gold to Bitcoin. BTC Continues to Outpace GoldIn a separate disclosure, Adler also noted that Bitcoin has outshined oil in addition to gold. An accompanying chart shows that in the last six years, gold dropped 91% against Bitcoin, moving from 0.294 BTC per ounce to 0.026 BTC. Oil has faced a similar fate, declining from 0.008 BTC per barrel to 0.0007 BTC per barrel in the same period.
Text source: The Crypto Basic