According to Powell “Bitcoin is a speculative store of value, just like gold.” The marketcap for global gold market: 7 trillion

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21 comments

  1. remmberyyflox

    |Author

    So Powell browses Reddit and reads that there is somekind of consensus about the value of btc among holders, namely that it’s a store of value, and then repeats the same in front of congress.

  2. sodafountan

    |Author

    Yeah and here’s the thing:

    I haven’t, nor do I know of anybody, who actively invests in gold. And yet I can name five people off of the top of my head who invest regularly in bitcoin.

    I expect the market cap of bitcoin to surpass gold within the next five years.

  3. FrancoCappelloC

    |Author

    Gold is centralized in vaults and as is a physical item it can be confiscated by the government. IF you store gold in your home in your vault, government can expropriate your land along with your gold. But they can’t take your bitcoins.

  4. m4tbu

    |Author

    Except bitcoin is more scarce than gold, borderless, programmable, censorship resistant and permission less….

    Bitcoin > Gold

    in so many ways…

  5. simplelifestyle

    |Author

    The Fed saying that Bitcoin is a store of value like gold should be sending the price through the roof. It legitimizes it for the average folk that still seeks permission from the authorities.

  6. Mark_Bear

    |Author

    Powell believes that “money printing” is the solution to economic problems caused by “money printing”.

    ​

    He’s a stooge, a puppet, a useful idiot. He’s been brainwashed to the point of delusion.

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