While appearing on Layah Heilpern’s podcast, Dowd reiterated that once Bitcoin matures, it will likely beat gold due to unique features such as the ability to be transacted digitally. According to Dowd, although gold remains a viable investment, Bitcoin stands a better chance as a store of wealth. He stated that Bitcoin’s growth journey, characterised by rises and falls, is helping the flagship cryptocurrency’s ability to stay longer. The investment adviser added that with the maturity of the cryptocurrency sector, Bitcoin is likely to stand out from the rest of the market. He believes that the cryptocurrency market can be compared to the dot com era when most companies collapsed while the stronger ones survived. According to Dowd: Furthermore, Dowd maintained that Bitcoin’s growth would be guided by the asset’s key attributes that make it better than central banks. In this case, he cited elements like transparency, freedom and technology. His sentiments come as the general cryptocurrencies continue to sustain recent short-term gains led by Bitcoin. The number one ranked cryptocurrency has maintained gains above $20,000, with the market regaining the $1 trillion capitalisation, at the time of publication. Watch the full interview below: Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
