In a recent discussion on X, prominent cryptocurrency trader Willy Woo shared his insights regarding the ongoing debate between Bitcoin and gold. Woo, known for his analytical approach to the crypto market, made it clear that while he firmly supports Bitcoin, he does not foresee it emerging as “the new gold” in the near future.
Woo”s comments were made in response to a post by Henrik Zeberg, who referenced Cathie Wood“s assertion that Bitcoin acts as a hedge against both inflation and deflation. Zeberg countered this viewpoint, suggesting that Bitcoin is fundamentally a high-risk asset. Woo echoed this sentiment, asserting that Bitcoin operates as a risk-on asset due to its status as an emerging financial instrument, contrasting with gold, which he views as a traditional hedge.
While Woo remains optimistic about Bitcoin“s potential to be regarded as “better gold,” he estimates that this recognition will likely take another 15 to 20 years, particularly contingent on significant shifts in the gold market. He explained that many traders and investors are often impatient regarding the timelines for such developments.
In a dialogue with trader Bob Loukas, who argued that Bitcoin is superior for numerous reasons, Woo acknowledged Loukas”s point but emphasized that Bitcoin lacks the finality that gold offers to its holders. Woo maintained that the design of Bitcoin is indeed more advanced, suggesting that it will eventually eclipse gold, though it requires patience.
In related news, investor and author Robert Kiyosaki has warned of an impending “giant crash,” which he believes could provide opportunities for wealth accumulation for those prepared. Kiyosaki expressed his confidence in Bitcoin, stating that he continues to invest in it, even as prices decline.
As the cryptocurrency landscape evolves, the dichotomy between Bitcoin and gold continues to be a focal point for traders and investors alike, with experts like Woo providing valuable insights into the future of these assets.
