The last Friday, during an interview with CNBC, Crypto analyst Lou Kerner stated that Bitcoin is a better store of value than gold.
The co-Founder & Partner at Crypto Oracle, a venture capital firm focused on blockchain projects, believes people will switch from gold to bitcoin as a long-term investment but it will take time.
“Gold has emerged as the global store of value and it’s held that position literally for a couple thousand years. Now we have something that we think is functionally much better, so we would expect overtime,not in a day, not in a week, not in even five years but we would expect overtime for some of the people using gold as a store of value to switch its a Bitcoin”
When he was asked if Bitcoin is a “healthy thing” in the longer term, Kerner answered:
“If you take a look 40 years ago when junk bonds were created, it was extremely volatile like we’re seeing with Bitcoin today. A lot of people said it was a scam but forty years later it’s the same as everything else. We think bitcoin is just going along that same trajectory. Any new asset in its early days is extremely volatile. Nobody knows how to price it and that’s exactly what we’re seeing with Bitcoin today”
Lou Kerner is not the only one to think that Bitcoin is a great store of value. Ted Rogers, president of the company Xapo, stated that BTC is going to replace gold and it may also become a ubiquitous global currency.