According to PANews on October 20, Bitwise CEO Hunter Horsley stated that maintaining or increasing gold prices will require significant new buyers. By 2024, gold production will be approximately 3,660 tons, with approximately 1,370 tons recycled, for a total value of approximately $680 billion that will need to be absorbed by the market. The current annual supply of Bitcoin is about 164,000, with a total value of about $2.4 billion. He believes that Bitcoin will become a better way to store value than gold.According to PANews on October 20, Bitwise CEO Hunter Horsley stated that maintaining or increasing gold prices will require significant new buyers. By 2024, gold production will be approximately 3,660 tons, with approximately 1,370 tons recycled, for a total value of approximately $680 billion that will need to be absorbed by the market. The current annual supply of Bitcoin is about 164,000, with a total value of about $2.4 billion. He believes that Bitcoin will become a better way to store value than gold.
Bitwise CEO: Gold needs a lot of new buyers to keep prices stable/increase, Bitcoin will become a better store of value than gold
According to PANews on October 20, Bitwise CEO Hunter Horsley stated that maintaining or increasing gold prices will require significant new buyers. By 2024, gold production will be approximately 3,660 tons, with approximately 1,370 tons recycled, for a total value of approximately $680 billion that will need to be absorbed by the market.
The current annual supply of Bitcoin is about 164,000, with a total value of about $2.4 billion. He believes that Bitcoin will become a better way to store value than gold.
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