Is Bitcoin really the Digital Gold?

The Value of Gold

Gold is one of the natural resources that comes from the Earth and it has risen to become one of the most sought off commodities in the world. Despite the presence of other commodities such as wheat or Oil, Gold has been the one chosen for method of transactions to replace barter even though Wheat and Oil are existential for our living.

Source: https://www.fxstreet.com/news/gold-price-forecast-xauusd-readies-a-rebound-towards-1-722-confluence-detector-202207150350

Can Cryptocurrency be considered “Digital Gold”?

When we mention the word “Digital Gold”, there is one cryptocurrency that is considered for that title and that is the one that started it all — Bitcoin. Bitcoin maybe 14 years old but its invention has prompted the world to build a new decentralized ecosystem around it and just like Gold helped the world to transition from Barter, Bitcoin and other Cryptocurrency should help transition us to a digital era of our financial system.

Source: https://academy.moralis.io/blog/digital-gold-why-is-bitcoin-becoming-known-as-digital-gold

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Nagaya Technologies

Nagaya Technologies

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NAGAYA (NGY) is a Gold-Backed Cryptocurrency with Subsidiary Projects. We aim to build Trust and Value through LEGALITY and TRANSPARENCY. https://nagaya.co/