Bitcoin Is Gold 2.0, Better Version of Gold: Eric Demuth, CEO of Bitpanda

Bitcoin Equated As Gold 2.0 by CEO of Bitpanda

During the conference which relates to cryptocurrency, Eric Demuth, who is CEO of the exchange (Bitpanda) which allows the trading of Bitcoin along with precious metals like that of platinum, gold and silver explained that the demand for digital tokens accelerates the need for precious metals also.

He cleared that Bitcoin can be proved as Gold 2.0 for the younger digital generation because of faster liquidity, negligible transaction fees and ease of storage of Bitcoins. He equated Bitcoin as the gold standard of crypto.

Demuth Supported Regulatory Crypto Space

Many of the service providers or exchanges are visualising the stricter regulatory environment as “the big bad wolf”. According to the CEO of Bitpanda, the regulatory crypto space is in a way will attract more investments as the many reputed companies will be strongly complying the rules.

Eric also hinted about his support for the government's efforts to change the decentralised currency to a centralised one. He said that decentralised currency gives the opportunities to the hackers, scammers and false advertisers to hamper the crypto space.

Bitcoin Far Behind Gold

Bitcoin was equated as Gold back in January when its price hit around $9000, but due to its volatility, the worth went down. Analysts after the statement of CEO of Bitpanda explained that bitcoin is in its infant stage which cannot be compared to the worth of gold as the alluring asset gained its value after the effort of the people to mine it.

Similarly, Bitcoin may be as valuable as the gold in the future as and when mining increases. Thus, it can be said that the crypto enthusiasts must continue their investments and miners must improve their performance to increase the value of the bitcoins.

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