Digital Asset Director Says Bitcoin Is ‘Digital Gold’, Has Huge Investor Upside

2018-7-21 19:35

Bitcoin has been regaining its strength lately, as it finally has surpassed $7,000 in price. One expert in cryptocurrency has noted that this upside is major for the platform, and will hopefully urge gold investors to take advantage of Bitcoin, due to its reputation as “digital gold”

The director of digital asset strategies at VanEck/MVIS, Gabor Gurbacs, recently participated in the “Futures Now” segment at CNBC. He said,

“Gold today has around $7 trillion outstanding. If you take, say, 5 to 10 percent — I’ll let everyone do the math — bitcoin has upside.”

Right now, the market cap for Bitcoin is approximately $128 billion, after having grown about 16% in the last week, making the current price $7,423.43. However, by increasing by 10% of the current value, the total market cap would be triple the gold standard.

To further explain, Gurbacs said,

“Bitcoin is used as digital gold today. It’s a de-risk asset. Basically, if someone wants to outlay systematic risk, then one would go to access gold or digital gold.”

In order for this change to take place, Bitcoin needs to mature more, giving it stability in the market to bring in other institutional investors. Many enthusiasts, including Gurbacs, believe that this step is a natural and inevitable part of the path.

He said,

“We believe that there is sufficient liquidity. We believe there is pricing benchmarks. We believe there is a way to integrate bitcoin into the financial ecosystem that we are used to for ETFs, stocks, bonds and commodities.”

Unsurprisingly, fewer people are turning to gold to maintain their wealth as the market changes and are gravitating towards the use of Bitcoin and other cryptocurrencies instead. Clem Chambers, who wrote a book called Be Rich, The Game in Wall Street and Trading Cryptocurrencies: A Beginner’s Guide, explained in May how gold and Bitcoin differ in their wealth security.

He said,

“A normal person sweating a war isn’t a billionaire with a private office, but in the old days they might have stashed a few thousand or even hundreds of thousands in gold if they thought the balloon was going up. Today you’d stash it in Bitcoin and be safe in the knowledge that you could fly away on holiday somewhere safe for a few months and your stash would be as safe as the place your hid your private keys.”

Earlier in 2018, even the World Gold Council said that they agree that Bitcoin could overtake physical gold.

They said that Bitcoin alone could,

“undermine the tools used by the Fed and other central banks to influence the economy.”

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Digital Rupees (DRS) íà Currencies.ru

$ 6.38E-5 (+0.00%)
Îáúåì 24H $0
Èçìåíåèÿ 24h: 0.00 %, 7d: 0.00 %
Cåãîäíÿ L: $6.38E-5 - H: $6.38E-5
Êàïèòàëèçàöèÿ $32.611k Rank 99999
Öåíà â ÷àñ íîâîñòè $ 0.00022225 (-71.29%)

digital bitcoin gold upside asset director investors

digital bitcoin → Ðåçóëüòàòîâ: 126


Bitcoin Power: Why Investment Maven Cathie Wood Hails The Crypto As ‘Digital Gold’

Bitcoin continues to gain support despite the implications drawn from Sam Bankman-Fried’s fraud case, which could reinforce the arguments of its detractors. Cathie Wood, CEO of Ark Investment, stands firm in her support for the leading digital currency, advocating for its continued prominence in the virtual asset realm. According to the ARK top honcho, as […]

2023-11-4 18:00


Digital subsidiary Chicago stock exchange operator received CFTC approval to launch margin futures for Bitcoin and Ethereum

At the moment, the platform of the Chicago exchange operator conducts spot trading of 5 digital assets, derivatives are not represented on it. The US Commodity Futures Trading Commission (CFTC) has allowed Cboe Digital to register as a clearing organization for derivatives for bitcoin and Ethereum with margin.

2023-6-7 16:21


Ôîòî:

Grayscale: Central Bank Digital Currencies Will ‘Neither Replace nor Harm Scarce, Uncompromising Bitcoin’

Central bank digital currencies (CBDCs) pose no threat to Bitcoin’s value proposition, instead, they will spur its growth toward mass adoption. In a new report, Grayscale Investments said CBDCs will never replace BTC because unlike the top cryptocurrency, they can be inflationary and are open to manipulation by central banks CBDCs are merely digital versions […] The post Grayscale: Central Bank Digital Currencies Will ‘Neither Replace nor Harm Scarce, Uncompromising Bitcoin’ appeared first on Bitcoin News.

2020-5-29 19:10


Bitcoin’s BTC/USD Exchange Rate Bottom Is In, The Worst Is Behind Us: Reports Delphi Digital

Bitcoin Bottom Is In & The Worst Is Behind Us: Reports Delphi Digital Delphi Digital has returned with its another report stating “we continue to believe the bottom is in.” Recalling its report from January, this year, the research firm says the market cycle of Bitcoin is right on its track. In its previous report, […]

2019-5-3 20:33


Prominent CEO: Bitcoin Isn’t Digital Gold Yet, But $10,000 Is Still Possible

Over the decade-long history of Bitcoin, the popular digital asset has been called everything from a money launder’s tool to the first-ever truly global currency. But, although Bitcoin’s definition has undoubtedly changed over the years due to the whims of investors and industry leaders, many still believe that BTC is on the cusp of becoming digital gold.

2018-10-21 14:57


Can Bitcoin become Digital Gold ?

As Bitcoin has shown life the last several days and rose above $7000, the term “digital gold” has been repeated many times in journalistic publications, tweets, crypto forums and even on TV.   Gabor Gurbacs, director of digital asset strategies at VanEck/MVIS appeared on CNBC’s “Futures Now” and opined on just how big Bitcoin could […] The post Can Bitcoin become Digital Gold ? appeared first on ZyCrypto.

2018-7-21 22:39


Ôîòî:

EU’s European Blockchain Observatory and Forum to Host Blockchain AMA

The European Union (EU) has announced that it will host an online Ask Me Anything (AMA) session on June 18, 2018, at 6 p. m. CEST. The event, organized and hosted by the European Blockchain Observatory and Forum of the EU, will last for 90 minutes and cover blockchain technologies with in-depth explanations, interactive discussions with panelists and public questions answered live.

2018-6-13 20:42


Ôîòî:

Proposed Regulations Could Cause Major Shifts in Canadian Crypto Businesses

Canada’s government has released draft regulations for “virtual currencies” with a consultation period of 90 days, saying that proposed regulatory changes could mean a loss of $60 million over 10 years for businesses that deal in cryptocurrencies but will improve Canada’s international reputation and make it easier for crypto businesses to deal overseas.

2018-6-13 20:24


This paper investigates whether Tether, a digital currency pegged to U.S. dollars, influences Bitcoin and other cryptocurrency prices during the recent boom. Using algorithms to analyze the blockchain data, we find that purchases with Tether

Using algorithms to analyze the blockchain data, we find that purchases with Tether are timed following market downturns and result in sizable increases in Bitcoin prices. Less than 1% of hours with such heavy Tether transactions are associated with 50% of the meteoric rise in Bitcoin and 64% of other top cryptocurrencies. The flow clusters

2018-6-13 19:39


Ôîòî:

Bitcoin in Brief Wednesday: Zug Tests Blockchain to Decide on Fireworks and Digital IDs

The city of Zug, home of the Swiss Crypto Valley, will invite its residents to take part in an experimental blockchain-based vote. They are expected to share opinions on several questions of local importance, including the fireworks display during the annual Lakeside Festival and the use of digital IDs to borrow books and pay parking […] The post Bitcoin in Brief Wednesday: Zug Tests Blockchain to Decide on Fireworks and Digital IDs appeared first on Bitcoin News.

2018-6-13 15:12


Ôîòî:

Markets Update: Crypto Prices Take a Weekend Beating

Cryptocurrency markets are suffering from deep losses today, on June 10, 2018, as most digital assets are seeing 24-hour declines between 9 and 25 percent. The number one position, held by Bitcoin Core (BTC), dropped more than a $1,000 just a few hours ago, from $7,600 to $6,600, but prices have rebounded back to $6,787 […] The post Markets Update: Crypto Prices Take a Weekend Beating appeared first on Bitcoin News.

2018-6-11 02:00

Ôîòî:

Jason Attar Takes Cryptocurrency to the Big Screen in New Mockumentary

Award-winning comedian, actor, writer and director Jason Attar is once again heading for the big screen with his new project KevCoin: The Movie. A follow-up to his previous film One Night in Powder, Attar will don the guise of his infamous character Kevin Powder — a rock star “fixer” who’s constantly trying to reinvent himself through wild schemes — and take on the world of digital finance as he seeks out fame and riches.

2018-6-11 22:31