On Bankcode Financial New watch today, Changpeng Zhao, the CEO of the world’s biggest exchange by trading volume – Binance gave his reasons recently in an interview that Bitcoin will be taking over the world’s primary haven asset Gold.
The interview was streamed on YouTube – News Asia, The cryptocurrency boss revealed many things and also discussed how Bitcoin will survive the bullish trend and gave reasons why will replace Gold.
He said “Gold is not very easy to transfer, you have to meet somebody physically to actually transfer the gold. It’s relatively heavy, if you have to carry it around airports, that’s really freaky as well. It’s hard to store. You have to have physical space.
“It’s not easy to verify. You don’t know the density of the gold you’re getting. On the other hand, you’re always guaranteed that if you get some Bitcoin, you get some Bitcoin.
“Gold is not 100% limited in supply. It’s rare, but if somebody discovers another gold mine, there could be more supply. Bitcoin is very limited in supply. The way I view it is that gold is a very good store of value, but its use case is sunsetting. Bitcoin’s definitely the future,” said Zhao.
Note that the bitcoin price is 4.1% up in the last 24 hours.