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Peter Brandt (Courtesy: Twitter)
Bitcoin News

Bitcoin Is Store Of Value Like Gold, Believes Trading Legend

Peter Brandt (Courtesy: Twitter)
Peter Brandt (Courtesy: Twitter)

Peter Brandt, a trading legend, said that he looks at Bitcoin as a store of value like Gold or silver. He also added that the ability for $BTC to serve as a reserve currency remains to be seen.

His comments on twitter garnered plenty of comments with some saying, “If you hold Gold , Silver as a story of value it wouldent make any sense to not hold BTC and the other way around”.

“Bitcoin behaves as a risk asset and is correlated the most with the stock market. Doesn’t react to geopolitical risk etc. at all. It is still a mere tool for speculation. It might at some point become “digital gold” but as for now we can’t really talk about it as a store of value,” the others mentioned.

“Bitcoin is a terrible store of value considering it has 10% swings intraday and suffers periodic 80-90% corrections (crashes),” some said.

“AGREE!! If someone sells as little as $2M of BTC over a weekend , that would cause an immediate price crash,” another one said.

Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Crypto is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Crypto market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.