Will Bitcoin be a global store of value similar to gold or will decentralised stabelcoins win in the long run?
This is a debate which I am yet to hear many people have. In this video, I explain why I believe decentralised stablecoins could be a real threat to Bitcoin in providing a more stable and equally decentralised store of value.
If a stable coin is able to be pegged to a basket of goods, it will be an incredible place to hold your money without suffering from inflation while also being decentralised and thus out of the reach of governments.
As stated in the video, I don't know whether stable coins will be a more commonly accepted store of value in the future than Bitcoin. In fact, Bitcoin has a massive network effect making it very hard to overtake.
However, stable coins in theory could provide a better solution than Bitcoin. Just ask yourself this question:
If you wanted to store your money in a safe, stable manner, would you hold it in Bitcoin or a decentralised stable coin?
I believe many people would answer the latter and, therefore, this is an interesting debate worth having.
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In this video, I try to address the following points:
- Is Bitcoin Digitgal Gold?
- Will Bitcoin Replace Gold?
- Is Bitcoin A Digital Store Of Value?
- Are Stable Coins A Good Store Of Value?
- Is Cryptocurrency A Store Of Value?
Disclaimer: None of this is financial advice. Please remember that all of our videos are simply our personal opinions. I don't claim to be a market expert and I'm only human so I will make mistakes from time to time. Always do your own research and never invest more than you can afford to lose. Investments can go up and down with cryptocurrencies being an especially volatile market.
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