Bitcoin is as a store of Value – it is the new digital Gold?

Gold has been in the last few centuries, a stable store of Value that has survived every crisis and every war, and whose value has increased since the up steadily today. Some companies and macro-economists are convinced that Bitcoin could take a similar development.

The influence of individuals and corporations worldwide, such as the investment company Grayscale, and the commercial Bank Galacy Digital, emboss the statement that Bitcoin is a store of Value that can be measured with Gold. Especially Grayscale has started at the beginning of this year a large-scale marketing campaign with the name “Drop of Gold”. This Multi-Million Dollar commercials to be aired in the United States.

Today we unveiled our #drop gold TV commercial. We think it’s a #must watch

sound ON!

— Grayscale (@Gray Scale Invest) 1. May 2019

In a statement, the lead analysis by Bloomberg Intelligence, McGlone performs, that Bitcoin has to prove itself in the next time as a store of Value, to matured until today, however already a viable Alternative to the precious metal Gold. Especially macro-economic factors the economic order Bitcoin on the sample (freely translated):

Bitcoin is maturing to a digital store of Value such as Gold.

Layers of price support, increasing institutional interest and macro-economic conditions, similar to those that support Gold, should keep the price of Bitcoin in momentum.

McGlone also describes that BTC is a hedge against the devaluation of the Chinese currency, the Yuan. Other Economists such as Alex Krüger describe Bitcoin as unkorrelierenden asset value, for the actual evaluation it is still too early. Bitcoin needs to be translated to establish itself as a macro asset before the volume and the conditions at the Gold (free):

I wouldn’t comment if I would not be constantly exposed to an entire industry, which argues that Bitcoin of Gold / Yuan / shares / Dollar / etc. driven. It often feels like a mass delusion, not so different than the “this is a new paradigm, not a bubble” by the end of 2017…..

Bitcoin is *still* no Macro-Asset. It should be one, if the market Matures, as it is increasingly viewed as digital Gold and as a hedge against the TAIL RISK of the collapse of Fiat is systems, i.e., a put option on Central banks without an expiration.

The crypto market is still in an early stage and must continue to Mature. The launch of Bitcoin Futures moved Bakkt on the futures exchange several times and will now start on 23.09.2019 finally. A few days ago Bakkt also announced that the Custody Service is released now and from now on, Bitcoin payments can be made. Many crypto investors rain great hope that Bakkt drives the entry of institutional investors with larger amounts of Capital and hence the price of Bitcoin will have a positive effect.

Bitcoin rose again 10.900 USD and this night is like, however, to 10.150 USD. The price of Bitcoin is still very volatile, but over the psychologically important $ 10,000 mark. Whether the Start of Bakkt will actually have such a large impact on the price and the crypto market in sum, however, cannot be predicted. All the speculation in this direction is a look into the “crystal ball”.

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