The Winklevoss brothers told why bitcoin is better than gold

In their opinion, cryptocurrency is superior to precious metal in a number of indicators.

There was an unpleasant surprise from all the cryptocurrencies that enter the top 10 of the CoinMarketCap resource capitalization on Tuesday, which is a new wave of decline. Bitcoin dropped to $ 10,453. During the day, the digital asset fell by 4.64%. The most affected of the top ten were the Polkadot token (-14.62%), Binance Coin (-10.89%), Chainlink (-9.32%) and Ethereum (-9.01%).

Data: CoinMarketCap

Against the background of the depreciation of the most capitalized cryptocurrencies, the manager of The Capriole Fund Jan Uytenhout drew attention to the growth of bitcoin investors who adhere to the HODL strategy. The latter implies the purchase of a digital asset in order to hold it for a long time. It turned out that the number of HODL’ers reached its maximum value in three years.

At the same time, the absolute record was recorded at the end of 2017 – against the background of the rise in the price of bitcoin to record levels (about $ 20 thousand).

Simultaneously, the maximum amount of cryptocurrency without movement was recorded in the BTC network. The indicator takes into account the assets in the HODL’s wallets and the lost bitcoins.

Data: GlassNode

Participants of the crypto community, in turn, paid attention to the fact that the current decline in the BTC price does not seem critical, taking into account the general history of the movement of the digital asset rate. To illustrate the progress, users have compared the price of bitcoin to past years.

Meanwhile, one of the founders of the Gemini exchange, Tyler Winklevoss, spoke about the peculiarities of the current position of BTC. In his opinion, bitcoin has bypassed gold as an asset to preserve value.

He wrote in his microblog that Bitcoin fulfills the role of gold better than gold itself, accompanying the post with a comparison of asset opportunities.

Tyler’s brother – the second co-founder of Gemini Cameron Winklevoss – in turn, noted that bitcoin is the first commodity in the universe, the supply of which does not follow demand. He drew attention to the fact that the demand for BTC does not increase and cannot increase the supply of the asset in the market. Gold, in his opinion, is in the opposite position, which makes the value of the metal below that of bitcoin.

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