Bitcoin {BTC} the reigning asset: Why Gold Barons and Value Investors constantly shun the king coin

By August 24, 2019 Bitcoin Business
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Warren Buffett is a popular investor who was once one of the richest men in the world. He has claimed that Bitcoin resembles rat poison, and has stated that it creates “nothing”. Some of his followers also agree with the allegation that the Bitcoin bubble will soon burst.

Warren’s views have attracted criticism from hundreds of maximalists. Do note that Buffett looks at gold as a poor investment [if one chooses this asset for a long-term plan]. However, saying that Bitcoin isn’t a store of value can be characterized as backward thinking.

While inflation has affected Venezuela and several regions across the globe, BTC adoption has been soaring in Latin America. Though Bitcoin has a rather long way to climb if it hopes to take on gold as an asset.

Peter Schiff, who is known for his faith in gold, believes that the precious metal is soon to be impacted by a bull-run. A few weeks ago he claimed that BTC would sink below the low achieved this year. Although, he had a rather different outlook on the king coin a while back.

It’s simple. While most of these men and women are wise, they would rarely divulge their secrets for the rest of the world to see. This means that when they look at an asset as valuable, they’d shoot it down in front of the public as a worthless entity. They’re HODLers who refuse to admit their profound interest.

Did you not buy #Bitcoin @LouiseMensch? Having some ‘schmuck insurance’ is a great way for anyone in any country in the world to sleep soundly at night when their politicians are going crazy. Been working great for years. Just sayin…

— Bitcoin (@Bitcoin) August 23, 2019

Bitcoin is positioned right at the zenith of the market. For now, a bearish influence has impacted the majority of the coins in the market. BTC dropped by 0.36% in the course of the past 24-hours. The trading volume recorded is $15.388 billion, whereas the supply has 17,893,862 BTC coins in play. The total market cap of Bitcoin is $181.819 billion. As of this instant, BTC is priced at $10,161.02 and Bitcoin dominance rate rests at 68.5%.

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