Bloomberg Analyst Says “Bitcoin is Like Gold but as a Teenager”

Nate Geraci indirectly said that the discussion around Bitcoin is now at the best level but at the same time, he warned people “not to use his statement as a Bitcoin investment advice”.

Bitcoin (BTC), the top crypto asset by market cap, is currently accessible to almost every type of person in the jurisdiction of the US, as Americans can buy Bitcoin via Bitcoin spot ETF products also. In Jan of this year, the United States Securities and Exchange Commission (SEC) approved 11 Bitcoin spot ETF products simultaneously. 

The current trade price of Bitcoin (BTC) is $63,760 & this trade price has been 1% high over the last 24 hours. 

Nate Geraci, the President of the ETF Store, shared his opinion on the ongoing discussion around Bitcoin among the top financial experts. 

In particular, he appreciated the role of popular Bloomberg ETF expert Eric Balchunas in describing Bitcoin as teenage Gold.

Bitcoin vs Gold 

In the past several years, Bitcoin proponents called Bitcoin a digital form of Gold asset but Bitcoin critics always dismissed such claims blindly.

The metaphor “Bitcoin is like gold but as a teenager” suggests that Bitcoin shares similarities with Gold in terms of being a store of value, but it’s still in its early stages of development and adoption compared to gold, which has been a store of value for centuries. Like a teenager, Bitcoin has a lot of potential for growth and development but also comes with volatility and uncertainty.

Here people need to understand that no one can predict the future perfectly, so always remain aware of the volatility risks, whether it is Gold or Bitcoin, instead of blind investment. 

Read also: Hoskinson proposes an idea to integrate Cardano (ADA) with the Bitcoin Cash (BCH) network