Bitwise CEO Names the Best Asset for Savings
Hunter Horsley, CEO of asset management company Bitwise, explained why Bitcoin, rather than gold, should be considered the best way to protect savings from rising inflation and economic instability.
The top manager believes that supporting gold prices requires much more capital than is currently available in the market. In 2024 alone, approximately 3,660 tons of gold were mined, while 1,370 tons were purchased and consumed. This represents nearly $680 billion in new gold that buyers must consume to maintain the precious metal's price, according to Horsley's calculations.
By comparison, Bitcoin's annual supply is only about $24 billion, or approximately 164,000 BTC mined annually. The limited supply of new coins gives Bitcoin an advantage over gold in terms of scarcity and long-term price stability, Horsley stated.
“Gold needs a lot of new buyers to keep prices stable and high. Therefore, I expect Bitcoin to become the best store of value,” Bitwise CEO X wrote on social media.
This summer, Horsley announced that when Bitcoin surpasses $150,000, the deficit in the world's leading cryptocurrency will become even more acute, and there may not be enough Bitcoin for everyone. Horsley previously advised the Donald Trump administration not to include other crypto assets in the National Strategic Reserve—only Bitcoin deserves that place.
Source: cryptonews.net
