For a long time, the crypto community has been involved in a debate about the quality of Bitcoin as an active reservoir of value. With crypto influencers declaring that BTC will become the gold of the future. While crypto skeptics despise cryptomoney as a speculative asset with no real value. However, for Anthony Pompliano Bitcoin it has been the best reserve asset of value during the Coronavirus crisis, as he commented in today’s Tweet:
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Bitcoin: A Reserve of Value in the Face of the Crisis
For a long time, the nature of Bitcoin has been a recurring topic of debate. However, it has never been as fierce as during the Coronavirus crisis. For, since 2008, the world had not faced such a profound economic collapse. This puts to the test BTC’s ability to serve as an active reservoir of value.
Thus, if Bitcoin Future really is an active reserve of value like gold, the value of cryptomoney should have withstood the onslaught of the crisis, maintaining its value or even increasing it. Which initially it seemed it would not be able to do, due to the 49% collapse in its value after the Coronavirus reached the Western world.
However, as Anthony Pompliano points out through his Twitter account. Not only did Bitcoin’s price recover after the fall, but when you look at its performance, it has been higher than most assets in the market:
„Not only did Bitcoin finally recover, but it has increased by 70% so far this year. Bitcoin has actually been the best performer of the reserve assets. This means that one could argue that Bitcoin has served as the BEST refuge asset during this crisis.
However, with this message it seems that Anthony Pompliano puts an end to the debate. The truth is that there are still many people inside and outside the crypto market who deny the quality of BTC as a store of value. So we can be sure that the debate will continue in the future.