Crypto’s most fervent crusaders have sought to keep their heads up in this drastic, bone-crushing bear market. While optimism has often taken the form of the “institutional herd is coming” narrative, a number of Bitcoin (BTC) natives have begun to revisit the asset’s underlying value proposition.<\/p>\n
And no, in their eyes, BTC<\/a> isn’t digital cash. Instead, the flagship cryptocurrency has quickly taken up the mantle of being a digital form of gold, rather than digital cash through and through.<\/p>\n Max Keiser, an anti-establishment figure and popular industry commentator, put it best when he claimed that Bitcoin is a “peer-to-peer electronic gold system.” In a later tweet, he lauded Bitcoin’s nature as “unparalleled digital gold,” calling it simply “world-changing.”<\/p>\n Scarcity is one of Bitcoin’s mainstays. According to a Twitter\u00a0thread<\/a> from Dan Held, a former product manager at Blockchain, Satoshi Nakamoto himself mentioned his brainchild’s scarce nature in emails, BitcoinTalk threads, and through other mediums of digital communication. While the cryptocurrency godfather, to so speak, seemingly never mentioned the words “digital” and “gold” in a single sentence, Bitcoin has been extolled as a replacement (not alternative) for the precious metal.<\/p>\n In a recent tweet, Willy Woo cemented this belief system. The Australian crypto researcher, known for his in-depth technical analysis of cryptocurrencies, explained why he expects for Bitcoin’s market capitalization to “easily exceed” surpass that of traditional gold.<\/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>\nRelated Reading: No One Needs A Crypto ETF & Bakkt, BTC Already Is Money: Crypto Investor<\/a><\/em><\/h6>\n
There’s Not Enough Bitcoin To Go Around<\/h2>\n
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