Bitcoin : Priced In Gold Or USD ?
The dollar has fallen so much over time , it is truly sad and disgusting when one realizes how much its worth has devalued . The question posited below is due to this , should Bitcoin be priced in gold as opposed to the US dollar
Analyst: Why Bitcoin Should be Priced in Gold Instead of USD
” Bitcoin prices are always a point of contention, and they have become even more so by being priced in U.S. dollars. New research suggests that this is counterproductive as BTC should be priced in gold instead.
It has long been questioned as to why Bitcoin is priced in U.S. dollars when they are two entirely different entities. One is an inherently weak currency that has been continuously devalued for almost 50 years, and the other is a mathematically finite digital store of value.
In a recent blog post by entrepreneur, Saurel pointed out that the purchasing power of $1,000 in August 1971 has lost more than 85% of its value in 2020, and is not even worth $150 today.
“Pricing Bitcoin in the U.S. dollar will, therefore, tend to boost the Bitcoin price more rapidly due to the effects of the monetary inflation,”
Those lofty $1 million Bitcoin price predictions are likely to arrive quicker as the greenback is increasingly devalued. Most are familiar with this now-famous chart (and this does not even include the 2020 economic collapse). ”