![Bitcoin as gold. Bitcoin as gold.](https://substackcdn.com/image/fetch/w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fbe61cf30-7c9c-4f77-97c1-a45bd56943b8_6048x4024.jpeg)
One argument I continue hearing in favor of Bitcoin is that it’s digital gold. That it’s a safe haven asset. Its decentralized nature allegedly protects it from market forces like inflation.
This is a fundamental misunderstanding of Bitcoin and cryptocurrencies more broadly.
Bitcoin’s price history juxtaposed with gold, …
Keep reading with a 7-day free trial
Subscribe to PolisPandit to keep reading this post and get 7 days of free access to the full post archives.