Satoshi Nakamoto, the pseudonymous creator of the Bitcoin (BTC) project, always expressed an inkling of mistrust and cynicism towards centralized institutions, including Wall Street and the incumbent government. This theme was only accentuated when the first ever crypto diehard embedded a Financial Times headline, which outlined a facet of 2008\u2019s Great Recession, into the coinbase of his\/her brainchild\u2019s first-ever block.<\/p>\n
But over the years, the underlying value proposition of Bitcoin has been misconstrued, especially as \u2018get rich quick\u2019 schemes have become a sector mainstay. In fact, many argue that now, BTC’s primary use case isn’t as a media of exchange, but as a speculation instrument, giving its ‘investors’ a chance at asymmetric<\/p>\n
According to an array of industry executives, however, Bitcoin and its brethren are of much more significance than that. And this, not speculation, is what the postulate will bring BTC past its $20,000 all-time high to new heights, above and beyond what many of us think is possible or sensical.<\/p>\n
First and foremost, Bitcoin is arguably a store of value (SoV) \u2014 one potentially even better than gold, especially due to BTC’s digital properties. As Max Kordek, the head of the Lisk<\/a>, explained to this outlet in an interview at Token2049, BTC is a “store of value with complete independence of any other market,” making a small allocation into the asset logical. He adds that, if you boil the cryptocurrency down to its roots, it can act as a “secure investment next to gold,” in that over long periods of time, it will either hold its value or see its purchasing power\/unit swell.<\/p>\n As reported<\/a> by NewsBTC previously, Satoshi himself may have built the project with this thesis in mind. Dan Held, the co-founder of Interchange, explains that if we take the Bitcoin creator’s decisions into account, it would be hard to argue that BTC wasn’t established with it becoming a store of value in mind. Held specifically looks to Bitcoin’s cardinal rules \u2014 21 million BTC supply cap, ten-minute blocks, and block size caps \u2014 and comments from Satoshi, in which he\/she\/they mentioned “scarcity,” “long-term growth,” and commodities.<\/p>\n While Kordek and Held are sure that Bitcoin can be equated to gold, arguably BTC has not only more upside, but stronger characteristics in that it can’t be confiscated, it is portable, and it actually<\/em> has a limited supply. As industry researcher Willy Woo explained<\/a>, the digital asset can \u201ceasily exceed\u201d gold’s market capitalization due to the fact that mathematical, code-ensured scarcity, which Bitcoin enlists, \u201cbeats perceived scarcity.”<\/p>\n This is the reason why I think Bitcoin will easily exceed golds market cap. <\/p>\n *Mathematical scarcity beats perceived scarcity*<\/p>\n Perceived scarcity comes only from the technological limitations of today. https:\/\/t.co\/TtIh41zz3F<\/a><\/p>\n — Willy Woo (@woonomic) February 1, 2019<\/a><\/p><\/blockquote>\n\n