If Bitcoin stays decentralised and secure it will eventually demonetise everything. Including gold.

Separately, if it came to light that the US had NO physical gold, the price of gold would SKYROCKET in dollar terms.

To think otherwise, would be to make a similar mistake that most global economists made in 1971 when Nixon closed the gold window.

They wrongfully asserted that since the US dollar wasn’t tied to gold anymore that its price would revert to its industrial value.

How did that play out? 🧐

Said another way, gold doesn’t have perceived value because central banks hold it. Central banks hold it because it has perceived value. And a 5-10k year network effect.