Author Of The Bitcoin Standard Book: Bitcoin Will Reduce The Demand For Gold And Real Estate

Saifedean Ammous, author of the famous Bitcoin Standard book, says that Bitcoin can reduce demand for multiple safe-haven assets such as gold, real estate, and bonds.


In a recent SALT Talk video, Ammous explains how Bitcoin can emerge as a good store of value.


“I think demonizing gold is a realistic goal, that will turn gold into an industrial metal. This does not mean that gold will obviously go down to zero. It will just be an expensive industrial metal. ”


He also added:


You should also remember that many more global markets are essentially just looking for a store of value. They are not looking for investments that pay off… Many people buy homes they don't really need because that way they beat inflation and many people invest in all kinds of things, like bonds.


Bitcoin can enter the real estate market. It can enter the market for bonds. Therefore, these things can lose a significant portion of the demand coming to them because people don't have a solid store of value in their portfolio that they don't risk. But if Bitcoin turns into this kind of digital gold, it can offer people this. So you can imagine that this will reduce the demand for other markets and then create a growing demand for itself. ”


Ammous believes that the apparent disappearance of Satoshi Nakamoto, the anonymous creator of Bitcoin, is good for Bitcoin because it adds confidence to its decentralized, uncontrollable nature:


“I think the absence of anyone in charge and the survival of the project was what made it extremely difficult because that's what puts monetary policy in stone. This is what values ​​it digitally because it is a network that is not under anyone's control. There is no one out there who can take over this network and change the money supply… So I think the disappearance of the creator is a very important factor in the growth of Bitcoin and cannot be controlled by anyone.


The author says that Bitcoin should not be considered a huge safety net created by a bad financial system, but legally a better system:


“We have to stop thinking about Bitcoin as 'This system will crash and Bitcoin is the only answer'. I think we should think that this is a better technology. It is just a more advanced system and is likely to take over the old system because an accessible and verifiable political solution at a very low cost to anyone anywhere in the world is much stronger than having to go through political institutions that have a monopoly to send and receive money each time and can degrade the money. a proposition. "

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