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Gold-Like Bitcoin (BTC) may eventually exceed the ATH, says Crypto Entrepreneur

Bitcoin Shaping Up To Be Digital Gold

Alistair Milne, Chief Investment Officer of the Digital Currency Fund, recently commented on why he is "still confident" on Bitcoin (BTC) in a Twitter thread.

In a series of six tweets, the investor, who first tweeted the cryptocurrency not so popular in 2011, explained that Bitcoin's value proposition has swollen over the past few years. More specifically, he drew attention to adoption, noting that each consecutive "wave" swells even larger. With this logic, he explained that if the cryptography market is scheduled, BTC will do it likely exceeding its previous historical maximum of $ 20,000, potentially skyrocketing up to six digits.

Milne also pointed to his commentary on general awareness, claiming that now, millions, if not billions around the world, heard the word "Bitcoin" in some semblance. And as such, when FOMO shoots, both for institutions and for retail investors, the buying pressure will probably be stronger than ever.

Finally, the C-suiter of the Digital Money Fund noted that Bitcoin has also seen its proposal of Store of Value (SoV) become more evident. More specifically, he noted that Bitcoin investors are now "very aware that BTC is like exchanging gold with a leverage of 100 times", along with the fact that the inflation rate of the peak cryptocurrency will be lower of that of the precious metal. And since "nobody seems to doubt the utility of gold," Milne added that they should not question the potential of BTC, the de facto digital version of the asset under the care of Fort Knox.

The Gold 2.0 Narrative

Milne is not the only investor to see the value of Bitcoin as the actual second coming of gold. In a 47-part thread, Dan Held, former manager of Blockchain and Uber, explained that Bitcoin is a Store of Value (SoV), rather than pure digital money. This does not mean that BTC can not be used as an online medium (MoE). However, Held firmly believed that the top cryptocurrency was "purpose-built" to be similar to gold, rather than a decentralized digital version of the US dollar.

The crypto-supporter noted that the teachings of Satoshi, so to speak, have emphasized the fact that Bitcoin is more than digital money. More specifically, the creator of cryptocurrency mentioned the concepts of gold, long-term growth and Bitcoin merchandise status. The godfather of the cryptocurrency, so to speak, even mentioned scarcity at times, with Held arguing that Satoshi "emphasized that the shortage of Bitcoin gave him value … as SoV".

Held is not the only one to solicit this feeling. Far away, in fact.

The Winklevoss Twins, the co-founders of the Gemini Exchange, have recently stated that Bitcoin "is better to be gold than gold itself." Twin Tyler noted that while this sector continues to develop, BTC will continue to eat until it capitalizes on the gold market until the cryptocurrency newfangled exceeds its physical counterpart (probably worse).

The managing director of Messari, Ryan Selkis, also touched on this sentiment. Selkis noted that while an inflationary downturn is coming, consumers will pour into easily accessible SoVs, like Bitcoin. And, interestingly, BTC is easier to buy, store and liquidate than gold, so Selkis noted that investors are destined to reach the digital currency.

Lou Kerner also spoke recently about the subject. Kerner, the founding member of Crypto Oracle, recently told Bloomberg that BTC is "just a better way to preserve your value". Kerner noted that the portability of cryptocurrency, ease of use, divisibility and scarcity make it a viable alternative to precious metals and will allow BTC to definitively exceed the five-digit price limit.

Gold Vault Image Title Courtesy of Descryptive.com Via Flickr

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