For a long time, the crypto community has been involved in a debate about the quality of Bitcoin as an asset (store of value. With crypto influencers stating that BTC will become the gold of the future. While the crypto skeptics despise the criptomoneda as an active speculative with no real value. However, for Anthony Pompliano Bitcoin has been the best asset book value during the crisis of the Coronavirus, as commented in the Tweet of the day:
Bitcoin: a store of value before the crisis
For a long time, the nature of Bitcoin has been a subject of debate recurring. However, I had never been so bitter as during the crisis of the Coronavirus. Therefore, since the year 2008, the world had faced an economic collapse so deep. Which puts to test the ability of BTC to serve as an active reserve of value.
So, if Bitcoin is really an asset store of value like gold, the value of the criptomoneda would have to have endured the shocks of the crisis, keeping its value or even increases. What initially seemed like that was not going to be able to do, due to the collapse of 49% in its value after that the Coronavirus came to the western world.
However, as highlighted Anthony Pompliano through his Twitter account. The price of Bitcoin not only recovered after the fall, but when you look at his performance, the same has been higher than that of the majority of the assets in the market:
“Bitcoin not only recovered eventually, but it has increased by 70% so far this year. Bitcoin has actually been the best behaved of the assets book value. This means that it could be argued that Bitcoin has served as the BEST asset of refuge during this crisis“.
However, and although this message seems to be that Anthony Pompliano puts an end to the debate. What is certain is that there are still many people inside and outside of the crypto market that deny the quality of BTC as a store of value. So that we can be sure that the debate will continue in the future.