29 Dec Bitcoin displacing Gold as a store of value will free up literal TONS of gold for industrial, technology, and science applications. We’re making the world better in so many ways!
For those who are not familiar, gold is an amazing anti corrosion conductor and has numerous other properties that give it productive value. Years back, I would hear the argument that gold is more intrinsically valuable than BTC for this very reason.
With that being said, the price of gold today reflects its increasingly obsolete role as a store of value / safe haven asset. If folks stop hoarding gold for those purposes, the price will plummet and productive entities in science and engineering will have greater access than ever before. The ensuing wave of innovation will be dazzling.
Regarding the dated argument that gold is intrinsically more valuable than Bitcoin, remember that we are more scarce, more fungible, more trustworthy, and increasingly more in demand… Among other points.
Keep calm and HODL on