Niko LaamanenFounder, Publisher at Konsensus Network

Is #Bitcoin the New #Digital #Gold The #Truth Revealed, #fiction #storytelling

28 Mar 2024 · 1 min

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0:49

In this segment of a YouTube video, the speaker reflects on the common perception of Bitcoin as a speculative bubble and contrasts it with his financial analysis, which shows Bitcoin trading patterns resembling those of a precious metal rather than a bubble. He references his 2017 article "In Quest for Digital Gold," noting his role in popularizing the term "digital gold" and drawing parallels between how gold historically became a store of value and how Bitcoin might follow a similar trajectory. The speaker emphasizes the compressed timeframes of Bitcoin's price movements and frames the discussion as an exploration of Bitcoin's potential to evolve into digital gold.

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TranscriptAuto-generated · 1 min

And people were calling it being a bubble. And then when I started to look at it, at the charts, just as a purely as a financial person, not at all as a technical, technical person, I realized that not trading and not behaving at all like a bubble. It's behaving and trading as a precious metal. Yeah. Just with more compressed timeframes. I wrote an article, I think it was in 2017 called In Quest for Digital Gold. I actually don't know when the digital gold term was first introduced. I'm not claiming that I was the first one, but I didn't know it before, and I was one of the people who popularized this term. I said, and in this article I discussed how gold became gold, and I was arguing how can potentially Bitcoin become digital gold. And to me, that was the interesting part.

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