Do you guys think Bitcoin will replace gold as reserve asset?

The vast majority of society rejects Bitcoin as a legitimate asset, if I went around my town asking 1000 people whether they favor of Bitcoin or not, I would only expect maybe 1 to say they favor it. Even if I were to explain to them that BlackRock considers it a legitimate asset, and that Larry Fink was quoted saying "It is an asset class that protects you" and "it is for those who are fearful of their geopolitical risks or their own risks", they would still consider it a fraud. It is as if it has been hardwired into their brains that BTC is rubbish internet money. Upon doing more research, I found out that a Rothschild linked bank, Edmond de Rothschild Group holds a small sum of $3.6m worth of ETFs. This is a small amount, but I recon this is huge news because the Rothschild family holds great influence and are some of the most powerful amongst the British political elites. This shows that some of the rich elites acknowledges BTC as a legitimate asset and certainly do not consider it as rubbish internet money. I think it is very clear that institutions and the rich elites are beginning to publicly acknowledge BTC as an asset. If institutions are starting to support BTC, then the public will follow. If the political class are starting to acknowledge it then eventually nation states will follow their command and accumulate BTC.

Now this begs the trillion dollar question, will Bitcoin replace gold as a global reserve asset? To be completely honest, despite being a huge Bitcoin fan I have my doubts and I believe this is the most difficult goal to accomplish. Together with you guys, I wholeheartedly hope that the end game of Bitcoin is to be the worlds safest, most valuable, incorruptible and divisible asset. Completely and entirely replace Gold as reserve asset, causing it to be shunned as a relic of the past and be increasingly viewed as imperfect.

There are a few advantages which Bitcoin has over gold.
- Supply and creation of Bitcoin is predetermined, this is to ensure consistency and scarcity, which gold is inferior to because there may be undiscovered gold deposits or asteroids that increases supply suddenly. Some argue that Bitcoin is a fraud because it is man-made, but lets put that in a different perspective. Bitcoin being an invention created by mankind makes it superior and more reliable, this is because the technology can be perfected to possess all good attributes of gold and none of the disadvantages. As science and technology advances, human beings have always borrowed ideas from nature (i.e. gold) and perfecting it for our own use. This is part of human ingenuity.

• Bitcoin is easily transferrable and the transactions are easily verifiable. Imagine some countries trading with each other in massive volumes, if they used Bitcoin, the amounts received would take less than a day, regardless of where they are situated around the globe. However, with gold it would take weeks and months to receive the metals and check every one of these bars. You see, gold is very inefficient and very ancient.

• Bitcoin is more secure than gold, as mentioned earlier the transactions are efficient and nearly impossible to track down. In times of geopolitical conflict Bitcoin would be preferred over gold because gold transports or shipments can be tracked down and seized whereas Bitcoin can be safely transferred within the highly secure network. This is a bit far fetched but it illustrates the point that Bitcoin is safer, more secure and faster.

• Bitcoin is more versatile, it is widely used on the internet market, for any purposes and any transactions where the user hopes for security. This means Bitcoin is suitable for everyone, whereas gold just sits there and taking up massive storage space. The thing that's worse about gold is that it doesn't increase in value quite as often despite being heavy and inefficient. Bitcoin is soaking up the fiat currency at much greater volumes than gold. The returns of gold are far too inferior and we should seriously reconsider gold as a store of value. If gold possessed the same qualities of Bitcoin, it would have 100 trillion dollar market cap today, its because of their limitations that their price is suppressed. $2000 per ounce of gold is a joke in today's money, for context, those who bought certain stocks decades ago would made far greater returns than gold.

Now despite these comparisons, gold still retains its historical place as a reserve asset for thousands of years. In times of political uncertainty, the rich elites and nation states are accumulating gold instead of Bitcoin. I think it is difficult to tell whether Bitcoin can replace gold because we are still too early. Ask in town, your friends or colleagues about Bitcoin and they will think its a fraud, this means we are early, and Bitcoins are still cheap. I think it will require tremendous political and public support for Bitcoin to dethrone gold as reserve asset, this is the end game and seems far too difficult but only time will tell. Even if Bitcoin doesn't dethrone gold, it will certainly beat silver and the market cap of major stocks, and at the very least be second to gold.