Bitcoin Breaks $40k – BTC Could Flip Gold’s Trillion-Dollar Use As Financial Hedge

The other day, Bitcoin managed to smash through $40k for the first time ever. As expected, a quick correction came after that.

At the moment of writing this article, BTC is trading in the green, and the coin is priced at $38,826.51.

Willy Woo, crypto analyst, said that Bitcoin could eclipse gold’s use as a financial hedge in less than a year.

He posted on Twitter that the portion of gold’s market cap that’s actually used as a hedge against inflation could lose its dominance to Bitcoin.

Someone said: “I’m not sure jewelry can be discounted. People buy gold jewelry because it’s also an SOV, no? In fact, jewelry is probably made from gold specifically coz of that. Also, industrial use is minuscule (~1%). So probably best to compare with 100% of gold’s market cap.”

Someone else said: “I thought Peter Schiff and the likes had called for $10k gold price since 10 years ago? 5 years ago, I bought gold based on such “predictions” by Schiff, Rickards, etc. I was glad I took decisive responsibility for my own wealth and went down the #Bitcoin rabbit hole.”

Bitcoin users to hit 1 billion by 2025

Woo also said that the number of Bitcoin users would grow by over 600% by January 2025 to reach one billion users.

Stay tuned for more news about BTC adoption and price.

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An experienced finance writer for more than 10 years, active industry watcher, and gadget enthusiast.

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