Bitcoin's volatility can be safely ignored if invested for many years. The reason why people look at bitcoin with caution may not be volatility at all. Older generations are frightened by bitcoin's novelty and technical incomprehensibility for it. Gold has long been established in the minds of people for thousands of years as an element of wealth and reliability. Investing in gold seems like a habit, whereas investing in bitcoin has long been the preserve of young people, tech geeks and trailblazers (with a few exceptions). The difference between gold and bitcoin is that it doesn't allow you to grow wealth as much and is used to freeze your funds, not to increase them. Also, gold has low liquidity, while bitcoin is devoid of this disadvantage and can be sold anywhere in the world without any examination of authenticity. Although these two assets have some similarities, it seems to me that it very different and it is not entirely correct to compare them. One thing is certain, that the bitcoin number has a finite figure, while gold can be mined in new fields, whether it be the Earth, asteroids or other planets.
Couldn't agree more!
It took thousands of years to establish gold in people's minds*, it took many decades to establish the internet for the masses (since 1969/ARPANET), so chances are it won't take more than 10 years to
establish BTC as the next reserve currency.
*
https://www.youtube.com/watch?v=YHjYt6Jm5j8The adoption curve keeps getting smaller and smaller with every new innovation...
Most of the bitcoin holders have been firm in holding it and not gonna sell if it's not needed to be done.
It doesn't make a lot of sense to sell assets (unless you're 100% sure you're gonna buy cheaper later on).
Just like owning a house... it makes more sense to rent it (passive income), rather than sell it (well, unless you're 80+ years old already)!
