CEO Behind EOS Predicts Bitcoin (BTC) Will Replace Gold as the Leading Store of Value

Block.one CEO Brendan Blumer at DC Blockchain Summit (Chamber of Digital Commerce / YouTube)
Voyager
Voyager

Brendan Blumer, the CEO and co-founder of Block.One, the company behind EOS (EOS), believes that Bitcoin (BTC) is set to replace gold as the standard store of value over the next two decades, according to a recent tweet.

When pushed on the specifics, Blumer added that he doesn’t see Bitcoin scaling “because it doesn’t need to.”

“Most of the activity will flow to scalable layer-two solutions, but Bitcoin’s awareness and liquidity will continue to compound,” Blumer added.

This sentiment has already been expressed by other industry leaders. Most recently, Tyler Winklevoss revealed that he believes that Bitcoin will be so successful that its ability to act as a store of value will push it beyond current commodities, including gold.

“Our thesis around Bitcoin’s upside remains unchanged. We believe bitcoin is better at being gold than gold. If we’re right, then over time the market cap of bitcoin will surpass the ~$7 trillion dollar market cap of gold,” Tyler said.

Bitcoin is currently down 0.6% on the day to $4,018, giving the largest digital currency a $70.4 billion market cap — roughly 50.8% of the total crypto market.

More: Brendan Blumer’s Twitter Thread

Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.

Leave a Reply

Your email address will not be published. Required fields are marked *

Related Posts