Bitcoin is Digital Gold for Global Transaction Settlement

A Bloomberg article saying bitcoin is not digital gold is wrong; they’ve completely misunderstood what that means. Bitcoin is digital gold for settlement, it allows counter parties to transfer value AND settle at the same time. Currently, the traditional financial industry transfers value and then settles with a delay, such as T+1, T+2 or longer. This widens foreign exchange spreads, creates unnecessary credit risk, generates idle pools of capital and slows down the pace of global commerce.

Bitcoin can and is being used to convert from one currency to another in a manner that is instant (thanks to the Lightning Network), removing credit risk, tightening spreads and allowing corporate capital to be allocated more efficiently to speed up trade. It’s reach goes further than traditional finance since it can handle transactions of almost all sizes in a cost-efficient manner.