Crypto Analyst: Bitcoin To Surpass Gold And Silver Within A Decade

Scott Matherson

1 year ago

3 mins read

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On Tuesday, an anonymous crypto analyst from a popular YouTube channel InvestAnswer shared more light on the future of Bitcoin. The analyst revealed that Bitcoin (BTC) is set to surpass both Gold and Silver in market capitalization in no more than a decade.

BTC Is A Safer Haven Than Gold And Silver

Over the years, Bitcoin has been regarded as digital gold due to the fact that the cryptocurrency offers the same benefits as gold with even additional features. In times of economic and political turbulence, BTC has been seen as a safe haven.

In the YouTube video, the crypto analyst was able to highlight the underlying difference between Bitcoin and Gold, since Silver is no longer a safe haven and gold has been a more reliable precious metal than Silver.

According to the crypto analyst, there has been distraught among the crypto community on the idea of whether the paper versions of gold and Bitcoin can change their real-world prices and potential price manipulations by financial giants such as JPMorgan and Blackrock.

However, the analyst was kind to shed more light on the growing issue in the YouTube video. He said, “For gold, it’s impossible to know if there is a gold backing to the paper that exists, which makes things very risky. On the other hand with Bitcoin, it’s much easier to prove and check making it much more trustworthy.”

In addition, the analyst stated that he strongly believes that Bitcoin will surpass Gold in 8-10 years, not just because of the preceding reasons but because the cryptocurrency can be so easy to verify.

“Believe me, forget the other 20 advantages that Bitcoin has over gold. I believe Bitcoin will smash gold performance over the next 8 to 10 years because you can verify. Therefore, I know a lot of people are worried about paper and manipulation by the JPMorgan and the BlackRocks of the world but they can’t because it can be so easily verified.” he stated.

Another crypto analyst David Waugh, the lead analyst of Coinbits, has also backed the cryptocurrency. According to the analyst, Bitcoin’s technological developments make it a superior asset over gold.

He further added that the crypto’s improvements in divisibility, portability, durability, verifiability, and scarcity make the digital asset a more efficient and reliable store of value.

Bears gaining upper hand over bulls | Source: BTCUSD on Tradingview.com

Grayscale Bitcoin ETF Approval Sparks Momentum

Recently, the United States Securities and Exchange Commission (SEC) has been given less than a day to file an appeal on the Grayscale plan to convert GBTC into a Bitcoin ETF or will be forced to approve the company’s plan.

If the SEC fails to file an appeal before the end of the day, it could spark a possible bullish run in the crypto market as it means it is not contesting Grayscale’s win.

Currently, Grayscale owns a significant amount of BTC, which it holds in trust and offers investors shares of the cryptocurrency as GBTC. If the company wins the case with the SEC, it could signal a possible bullish run for Bitcoin.

Featured image from Finance Magnates, chart from Tradingview.com

Scott Matherson

Scott Matherson is a prominent crypto writer at NewsBTC with a knack for capturing the pulse of the market, covering pivotal shifts, technological advancements, and regulatory changes with precision. Having witnessed the evolving landscape of the crypto world firsthand, Scott is able to dissect complex crypto topics and present them in an accessible and engaging manner. Scott's dedication to clarity and accuracy has made him an indispensable asset, helping to demystify the complex world of cryptocurrency for countless readers.

Scott’s experience spans a number of industries outside of crypto including banking and investment. He has brought his vast experience from these industries into crypto, which allows him to understand even the most complex topics and break them down in a way that is easy for readers from all works of life to understand. Scott’s pieces have helped to break down cryptocurrency processes and how they work, as well as the underlying groundbreaking technology that makes them so important to everyday life.

With years of experience in the crypto market, Scott began to focus on his true passion: writing. During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others.

Scott’s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott’s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry.

Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors.
In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else.

Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies.

Scott stands steady in the frontlines of the crypto revolution and is committed to helping to shape a future that promotes the development of technology in an ethical manner that translates to the benefit of all in the society.

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