In 2008 we saw gold sell off, why is that? People needed cash to pay for their expenses and to pay off their debts. Gold is not a great medium of exchange, you still needed something liquid in the short term. Some expect Bitcoin to take a similar dip in the upcoming recession. What they may be overlooking in their comparison, is Bitcoin’s superior function as a medium of exchange. What if Bitcoin is accepted as payment for expenses and debt in the short term. What if people don’t need to sell into cash to make these payments.

#bitcoin   #acceptability