How Investors Are Presented With Bitcoin: 'A New Decentralized Monetary Asset, Akin to Gold'
Bitcoin (BTC) is a compelling investment case “for patient, long-term investors” willing to spend the time to understand the top cryptocurrency, a new paper by Paradigm co-founder managing partner Matt Huang notes.
The crypto entrepreneur places BTC besides gold, as a go-to store of value, amid unprecedented stimulus spending by governments during the Covid-19 crisis.
“Bitcoin is likely to earn a place alongside gold as a sensible part of many investment portfolios,” Huang says in a paper aimed at reaching out to conventional investors, “Bitcoin for the open-minded skeptic.”
“It combines the scarce, money-like nature of gold with the digital transferability of modern currency,” he added. At the peak of the virtual currency’s adoption curve, “central banks may come to view bitcoin as a complement to their existing gold holdings.”
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