Bitcoin Experiencing Up to 50% When the Bank Experiencing a Collapse.
When the financial condition of conventional banks collapses, more funds will flow towards bitcoin or other coins.
This was done so that the funds that we previously had in the bank could be properly protected without having to participate in the collapse that a bank experienced.
Therefore bitcoin is often referred to as "Digital Gold" by some investors who understand the cryptocurrency world and have been involved in it.
This is very appropriate and similar to the whitepaper owned by bitcoin.
Why Is Bitcoin Called Digital Gold?
Digital gold is the designation of bitcoin coins in cryptocurrency. This is because bitcoin is similar to gold in terms of storing selling value.
Because of the advantages that bitcoin has in the digital world, this one coin is very suitable to be called Digital Gold which is very much in demand.
This is the reason why the designation of digital gold is so attached to bitcoin.
1. Supply.
Like gold in general, Bitcoin has limitations on its supply.
The Bitcoin created by Shatoshi only has a supply of around 21 Million bitcoins and this indicates that the supply it has is very limited.
Because these very limited resources make bitcoin very difficult to evaluate and manipulate.
2. Scarcity.
Bitcoin is certainly currently experiencing a scarcity for its existence in the cryptocurrency world, this is due to bitcoin miners in the cryptocurrency world.
Because, in general, the more miners that jump into bitcoin, the more difficult it will be to get it.
Just like gold that is always mined, the supply of gold in the area will run out, so will bitcoin.
3. Resilience.
In terms of resilience, bitcoin is no different from gold in general, which has super-high resilience in undergoing uncertain market price fluctuations.
Even so, if you compare the durability of bitcoin to physical gold it will not match, because physical gold will corrode over time.
4. Portability.
Bitcoin as we know it today is very portable, just like gold.
This is because bitcoin can be easily and quickly transferred from one wallet to another without the need for physical delivery.
5. Store of Value.
Bitcoin has the ability to store a stable value, where this store of value can be useful for protecting that value from inflation and the uncertainty of a particular economy.
This is the same as that of gold in general.
6. Decentralized.
A decentralized cryptocurrency coin means that the crypto coin cannot be manipulated by anyone.
And it cannot be controlled by the government of any country or entity, this is what makes bitcoin much more resistant to deposition.
7. Division.
This cryptocurrency coin called bitcoin can be divided into several small units which are usually small units referred to as shatoshi.
Because of the division into small units, bitcoin can be used as a medium of exchange for transactions with several amounts of shatoshi.
8. Security.
Transactions using bitcoin have quite an interesting advantage, because the security uses a very sophisticated cryptography.
This is what makes transactions using bitcoin impossible to falsify proof of transactions when shopping.
The similarities and similarities between bitcoin that we have explained above are very accurate with the gold that we currently know.
Because basically gold has the things that we have explained above without having to doubt it.
That is why bitcoin is often referred to as Digital Gold in the cryptocurrency world.
Even today there are some cryptocurrency masters saying that the flow of funds will go to bitcoin in large quantities.
This large flow will also flow to coins that have the top rank, such as ethereum, Solana, and other coins.