Billionaire investor and founder of Pantera Capital, Dan Morehead, has strongly emphasized that Bitcoin is a superior alternative to gold.$BTC
In a recent statement, Morehead expressed the advantages of Bitcoin compared to traditional reserve assets and drew attention to its potential role in the US economy.
Morehead began his speech by addressing the US’s dependence on gold as a reserve asset. “The United States stores $600 billion worth of gold,” he said, adding that this amount is equivalent to 11 million annual American workers’ wages. He argued that while gold has historical significance, it has begun to lose its importance as a reserve asset in the digital age.
Morehead, who has switched to Bitcoin, described it as a “much better” option than gold as a store of value. He said Bitcoin’s digital nature, limited supply and global accessibility make it a much more efficient and future-proof reserve asset. “Choose Bitcoin as digital gold, it’s much better,” he said.
Morehead also stated that the US has approximately 1% of the total Bitcoin supply in the world, which is a strategic and logical situation. Giving a recommendation of “preserve this, increase it,” Morehead also mentioned that it would be a positive policy step for the US to increase its Bitcoin reserves.
Finally, he stated that other countries have also started investing in Bitcoin and that the US should take the lead in adopting BTC as part of its reserve strategy.