Kiev, Ukraine - October 29, 2017: Studio shot of Golden Bitcoin Coin and mound of gold on black background. The Bitcoin was invented by Satoshi Nakamoto in 2008 as a digital form of money"nThis is a close up photo of several gold plated bitcoins together symbolizing the bit coin market, modern technology, finance, internet, trading, etc. "nBitcoin introduced in 2009 cross-national payment system in the form of virtual money, to be used in the cryptographic techniques (cryptocurrency).

Mark Yusko, founder of Morgan Creek Capital Management, claimed in his last tweet that only gold and Bitcoin could be considered money.

Referring to legendary American financier JP Morgan, the leading investor believes that other asset classes only represent the financial world as a loan instrument.

Morgan’s Offer remains Valid

In 1912, JP Morgan argued that gold was the only form of money.

“All other assets in the banking system at the time – including dollar bills – are forms of credit, the value of which depends on the borrower who repays his debt. Gold is the only financial asset with zero counterparty risk. ”

For all these years, gold has consolidated its value store status despite its competition with the US dollar, which emerged as the world’s currency in 1944.

Bitcoin, a decentralized digital currency, is called “digital gold” with low annual inflation rate.

In May, Yusko predicted that the price of Bitcoin could reach $ 400,000, exceeding the amount of gold in the market.

LEAVE A REPLY

Please enter your comment!
Please enter your name here