Bitcoin has been one of the best-performing assets in 2019, with many market watchers now eagerly awaiting the event which will trigger the next bull run. The king coin’s movement has also precipitated talk of what can drive Bitcoin’s value up even more. In fact just recently, Head of the Intercontinental Exchange, Jeffrey Sprecher, had commented that Bitcoin needs to have a real use-case in order for it to be considered “digital gold.”
Bitcoin is “digital gold;” this idea of Bitcoin as a good store of value has always been subject to intense debate and discussion. Popular Bitcoin proponent and the CCO of Bitrefill, John Carvalho, is of the opinion that the king coin is the best store of value on the planet. On the latest edition of the Speaking of Crypto podcast, Carvalho said,
“The fact remains that apart from being the best store of value on probably the planet, is that you’re storing it so that you can eventually use it. Even if you are only interested in speculation, you’re looking for price appreciation, so you can eventually sell that Bitcoin. Or you can store the value and spend it later. But there is no saving without also spending, you know eventually you will have to use it.”
“I do think that if you want a store of value for the long term then Bitcoin is probably the best way to do it.”
Having said that, the CCO admitted that this does not necessarily imply that there “should be any sort of negativity towards the idea of spending Bitcoin.” According to Carvalho, Bitcoin’s economy has to grow over time to accommodate both the spenders, as well as the ‘hodlers’.
When talking about cryptocurrencies’ utility in the global remittance ecosystem,