bitcoin Digital gold and institutional adoption

[Obliv0n 333]

SkyBridge for those who do not know, is a global investment firm that has currently started its foray into the crypto world, under a fund based mainly on Bitcoin, its initial investment is 182 million dollars that is equivalent to 6283 BTC's.

 

The person in charge of the announcement, declared some things that suppose an endorsement of his investment, such as that the halving was the catalyst for the price increase or the fact of ensuring that bitcoin is better than gold as a value of the continuous support for the market, which divided the opinions of both investors and the cryptocurrency community.

 

Personally  considered that Bitcoin is not digital gold, since the comparison is vague, and its concepts and principles are different.

 

However, what do you think of this?
Is it digital gold or not? Is institutional adoption good? Since more and more companies gain ground to the whales.

[rekter 8129]

Bitcoin is a hard concept to explain to people, and term "digital gold" is fast and easy way to explain that it has some similarities with gold like scarcity. Obviously it's misleading and btc is far from gold but until there's a better term, i think that it's a good fast pitch that gets some people interested.

 

I think that institutional adoption is unavoidable and i see it as an only way for us going forward. It brings along regulations that some people don't want, but alternative would be worse.

[Jromz 2158]

Good information, these institutional investments have really strengthen Bitcoin not only from the price perspective but also bringing legitimacy and attracting more "smart money" that can nicely sustain the price of Bitcoin for the long term. As for the concept of "digital gold", I concur it is somehow vague but at least gives some notion of a few attributes of Bitcoin, like scarcity and hedging against inflation.

Edited January 1, 2021 by Jromz
typo

[abohasnn9 2401]

My friend, Bitcoin is really the gold of cryptocurrencies and digital currencies. It is really like gold. It is the father of cryptocurrencies and the oldest and its high price makes it really the gold of currencies. Also, it is a formation currency that everyone exchanges with other cryptocurrencies. Thank you very much.

[velasco19 1753]

Bitcoin is still a topic of debate when it comes to value retention and generates diverse opinions, but investments are potentially growing. I also think that the concept of "digital gold" is metaphorical

[Syedbesharat 5423]

The Gold is most famous precious metal in world and easily tradable so the term Digital Gold refers BTC as global highly adopted and worthy currency .So comparing it with metal isn't right thing to do. Where BTC price and properties are different, could be mine ,gives more profit from holding. But BTC institutional adoption will give government some idea to properly regulate the crypto currency policies. Because BTC worth is more higher then Metallic Gold. Highly secure, easy to move and grew in price after some time,can use it for big payment for across the border with small fee. 

Edited January 1, 2021 by Syedbesharat
Spelling mistake

[Khan 1414]

If really compare the Bitcoin to Gold then Bitcoin is more valuable then Gold in the current market and there is only one main issue in it which is that Bitcoin has more price and can't be affordable by small investors.

[Obliv0n 333]

On 12/31/2020 at 9:18 PM, rekter said:

Bitcoin is a hard concept to explain to people, and term "digital gold" is fast and easy way to explain that it has some similarities with gold like scarcity. Obviously it's misleading and btc is far from gold but until there's a better term, i think that it's a good fast pitch that gets some people interested.

 

I think that institutional adoption is unavoidable and i see it as an only way for us going forward. It brings along regulations that some people don't want, but alternative would be worse.

@rekter It is an interesting definition, I had not analyzed the term from a point where it is more digestible or easier to understand for the masses.

 

Speaking of institutional purchases, I just created two topics that talk about them, could you go see ? I would like to know your opinion, greetings!

 

On 12/31/2020 at 11:03 PM, Jromz said:

Good information, these institutional investments have really strengthen Bitcoin not only from the price perspective but also bringing legitimacy and attracting more "smart money" that can nicely sustain the price of Bitcoin for the long term.

@Jromz Of course, institutional support gives more security and legality to the cryptographic environment, intelligent movements are necessary to bring order, in the same way, just like rekter, I invite you to take a look at my new topics, I think maybe they can be interesting

[Quickbee 26]

Bitcoin and Digital gold are completely different both in terms of price and in terms of recognition. There is complete Institutional support and assurance for Gold. But institutional support for Bitcoin is slowly increasing.

[cryptovlek 2597]

On 12/31/2020 at 4:00 PM, Obliv0n said:

Personally  considered that Bitcoin is not digital gold, since the comparison is vague, and its concepts and principles are different.

I agree it is not digital gold and not a currency either because of the high fees. What is Bitcoin it is very speculative, it is an industry and a market of investors that only sell for higher price to the next one, and many times they rebuy again to sell for even more. Everyone is trying to find the perfect price to buy and sell because this is like an online game with seven billion people as potential players.

[Sykkuno 2887]

This is another of the latest string of good news, having another institutional fund adopting Bitcoin, with the thought being it is digital gold, making it a very promising purchase that in this case is planning to hold for years Bitcoin and once again Bitcoin is bought for long term hold and not just for short term speculation.

[Serbberq 724]

Bitcoin is consider as digital gold, is going to be good for institution to adopt using it, which will help to promote cryptocurrency exchange around the world. 

[annayks 2314]

As it was the plan Bitcoin was under the narrative that it is Bitcoin gold. The advocates for Bitcoin convinced the big funds that this is what Bitcoin is and the institutions had seen increased government aid for the corona virus after the QE and didn't know where to invest everything. Trillions were pumped in the stock markets and around a hundred billions entered Bitcoin.

[Hanbal 359]

On 12/31/2020 at 6:00 AM, Obliv0n said:

SkyBridge for those who do not know, is a global investment firm that has currently started its foray into the crypto world, under a fund based mainly on Bitcoin, its initial investment is 182 million dollars that is equivalent to 6283 BTC's.

 

The person in charge of the announcement, declared some things that suppose an endorsement of his investment, such as that the halving was the catalyst for the price increase or the fact of ensuring that bitcoin is better than gold as a value of the continuous support for the market, which divided the opinions of both investors and the cryptocurrency community.

 

Personally  considered that Bitcoin is not digital gold, since the comparison is vague, and its concepts and principles are different.

 

However, what do you think of this?
Is it digital gold or not? Is institutional adoption good? Since more and more companies gain ground to the whales.

Bitcoin is a mysterious system uptill today there are what needs to be answered regarding bitcoin somethings are not clear in my opinion bitcoin is a digital gold of the 21st century because it posses some similarities with gold but it concept is more advance and complicated than gold.

[percare 3192]

I can imagine more similar funds are now buying Bitcoin as they see the asset to be rising to $100k soon and want to be in a good place to buy before it grows even higher. Bitcoin is performing totally amazing both in 2020 and in the beginning of 2019 and we keep having the same expectations for the short term future.

[Obliv0n 333]

33 minutes ago, percare said:

I can imagine more similar funds are now buying Bitcoin as they see the asset to be rising to $100k soon and want to be in a good place to buy before it grows even higher. Bitcoin is performing totally amazing both in 2020 and in the beginning of 2019 and we keep having the same expectations for the short term future.

@percare Do you think the btc will hit the $ 100,000 mark before the end of the year? I think it is difficult for it to reach such a threshold, because surely many will liquidate their investments in the next few weeks, when it reaches 40,000, although the market is unpredictable ... in 2015 I never considered that the btc would reach this point.

[Kanji 965]

 Digital gold adoption is a case that one can be able to find and be able to get it to there is a chance that it can work and so we need to get to that point and be good with it there is effectiveness and choice happening today and we need to find that work that is right for us and its important to be good in this market trajectory and we need to be good even in what is happening right now there is a lot of work and build on it its going to happen and very soon.

@Mutivo

[percare 3192]

22 hours ago, Obliv0n said:

Do you think the btc will hit the $ 100,000 mark before the end of the year?

@Obliv0n I can't say it will be easy but looking at Bitcoin that doesn't stop at nothing perhaps the $100,000 mark is closer than we can even think. We are at $ 40,000 today and still rising maybe it won't stop at all.

[Msh9 84]

Working in digital currencies is considered a very good-income job for members who work in this field and those with great experience who expand and work in the sections of this forum.

[bogdanoff 3173]

Institution adoption for Bitcoin gives us a better argument that Bitcoin is digital gold. It means a lot that everyone buying now has hope for the future. It can mean good for Bitcoin, however we know that price can rise to a certain level and then drop, so we can be following the trend until the trend is no more. There will be warnings. For now institutions are buying and make price higher every day.

[yonkii 3205]

On 12/31/2020 at 4:00 PM, Obliv0n said:

Personally  considered that Bitcoin is not digital gold, since the comparison is vague, and its concepts and principles are different.

I read this post earlier because I had not reached a conclussion. And still I am not sure again, but I agree completely with this quote @Obliv0n as I think that except from being vague, it is also how the investors and the people see each asset forming. If too many in the future, perhaps half of the planet population, see Bitcoin as digital gold, then it will be. For the time being I think that Bitcoin is not gold and not store of value asset but there is an effort to convince the investors that it is. If this is successful then it will perhaps become.

[Ridam 7455]

From every sides bitcoin is ganing the positive response and the trend for considering the BTC as a better store of value is increasing. The move is slowly but the money coming is really significantly higher as you know these intitutions are likely to invest millions if they consider btc. So its becoming the great for Bitcoin as its becoming better than any other assest class, even than gold.

[godislovefll 1880]

I think that it is not a correct term to say BTC is digital gold, but to refer to that it is much better than gold, I think that BTC is much better and brings many more benefits for those who invest in the long term, so gold and BTC are different but BTC in particular gives much more profit.

[Dang3r 103]

Bitcoin, at least in the strict sense of the word, is not gold, however it is attributed that synonym thanks to the fact that it goes through similar situations and of course, being mineable and gold, they associate it, however it is only used as a reference to easily explain the The concept behind Bitcoin, calling it "digital gold" makes it more palatable to the general public.

[tienda 8776]

Bitcoin and Gold are both interesting and different things. But are the king of their sector or type like them. Gold is the king of all metal precious like Bronze, Silver also Diamond, Since the value of gold is stable and predictable, gold has more value than diamonds. About Bitcoin is the king of all cryptocurrencies.