Bitcoin is on its way to replace gold as a store of value and won’t scale “because it doesn’t need to,” says Block.One co-founder and CEO, Brendan Blumer.
‘Bitcoin Will Replace Gold’ Within 20 Years
Bitcoin, some argue, can only reach significant value if it can scale to meet transaction demands of a global audience. However, co-founder and CEO of Block.one, Brendan Blumer, believes that Bitcoin may never need to scale moving forward because it’s already well on its way to becoming ‘digital gold.’
“Over the next two decades, Bitcoin will replace gold as the leading commodity to store value,” writes Blumer.
#Bitcoin won’t scale because it doesn’t need to
— BrendanBlumer (@BrendanBlumer) March 17, 2019
The executive, whose Block.one startup raised a record $4 billion last year selling EOS tokens, believes that most economic activity will not take place on the Bitcoin blockchain itself. Instead, most everyday transactions will move to applications that will be built on top of the Bitcoin base…