Gold is no longer as valuable as crypto, says Ethereum’s co-founder

on Nov 3, 2022
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  • Crypto is A Better Bet Than Gold, Says Vitalik Buterin.
  • The Ethereum co-founder also believes gold is no longer as valuable as crypto.
  • This comes despite gold faring better than some of the biggest crypto names, including Bitcoin and Ethereum.

A common theme has dominated cryptocurrency news headlines in 2022: there have been far more lows than highs. Most notably, the prices of a handful of the well-known companies in the crypto universe have fallen dramatically in the past few months. These include Bitcoin (BTC/USD) and Ethereum (ETH/USD).

The goal of digital assets has always been to draw customers away from traditional banking establishments. By definition, decentralised finance (DeFi) is one of the distinctive features that make cryptocurrencies appealing. It was created so that users could transact with one another directly without the use of a middleman or centralised authority. 

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Thanks to DeFi, people can enjoy financial services without paying exorbitant fees to banks and other financial institutions. People keep their money safe in a digital wallet that allows for quick transfers of money. For this to work without a hitch, all that is required is a dependable internet connection.

Prior to the launch of cryptocurrencies, only stocks, bank accounts, gold, real estate, and other illiquid assets were acceptable investments up to the early years of the twenty-first century. In the past several years, the popularity of cryptocurrencies, a new class of investments, has explodes. Investors of all shapes and sizes scrambled to buy cryptocurrencies that threaten to destabilise monopolised banking systems.

Crypto is A Better Bet Than Gold, Says Ethereum’s Co-Founder

Decentralised apps (dApps) and financial services are made possible by the smart contract technology used by the open-source Ethereum blockchain. The goal was to build a decentralised computing platform for smart contracts, programmable currencies, and decentralised applications that would go beyond Bitcoin’s capabilities. In a word, Ethereum was developed to solve some of the problems with Bitcoin.

Vitalik Buterin, the co-founder of Ethereum, recently tweeted that cryptocurrencies are more valuable than gold, despite recent gold news that emphasize its attractiveness as a safe haven. This tweet was in response to a question Zach Weinersmith made on the advantages of cryptocurrency over gold. Weinersmith is a New York Times bestselling author. The entire remark from Buterin was:

“It’s really difficult to use gold. It is challenging to use, particularly when dealing with shady individuals. Safe storage alternatives such as multisig are not supported. Currently, cryptocurrency is a better investment than gold because it has more acceptance.”

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In order to support organisations that promote the preservation of marine life, Big Eyes Coin intends to donate 5% of all sales to them. It commits to taking all necessary steps to safeguard our environment. This conflict, which is happening more regularly than ever these days, has consistently had the support of the BIG community.

The sixth stage of the Big Eyes Coin presale has now begun. Big Eyes Coin, a brand-new meme coin cryptocurrency, has raised close to $10 million. Meme coins add some charm and humour to the cryptocurrency realm.

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