Bitcoin's ascent will cost gold market share, according to a research report by investment banking giant Goldman Sachs.
Looking at bitcoin's float-adjusted market capitalization, the cryptocurrency accounts for about 20% of the total"store of value" market, which is currently dominated by gold. Proponents of bitcoin—ranging from Paul Tudor Jones to Anthony Scaramucci—have backed bitcoin as a store of value and inflation hedge asset akin to gold.
Everyone can go all in to Metaverse, but I personally believe that SocialFi will be the new trend. SocialFi projects like BitCityZ are all quietly developed, without ramblings and tricks. However, with the current development of Crypto, the explosion of SocialFi is obvious.
BTC is the new liquid gold, hopefully there is a merger in the future. 🤞
They can make more gold, they can't make more bitcon (and yes, they can make gold in laboratories, it's just very cost prohibitive.)