On October 13, 2023, an anonymous host of the popular YouTube channel InvestAnswers commented on the future of Bitcoin (CRYPTO: BTC), suggesting that it could overtake gold and silver in terms of market cap. Explaining the underlying difference between Bitcoin and gold, the host highlighted Bitcoin’s trustworthiness and verifiability as its main advantages.
“People have been worried a lot and I’ve answered so many questions about whether the paper versions of gold and Bitcoin can change their real-world prices,” he said. “For gold, it’s impossible to know if there is a gold backing to the paper that exists, which makes things very risky. On the other hand with Bitcoin, it’s much easier to prove and check making it much more trustworthy.”
The host went on to suggest that Bitcoin could outperform gold in the next 8 to 10 years. He also addressed potential manipulation by major industry players, assuring that it was impossible due to the verifiability of Bitcoin.
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