The rise in the value of Bitcoin and its use as a means of savings has raised concerns about the future of gold and silver. Wu predicted that Bitcoin could replace gold and silver as the main asset for investment in economic reserves, citing the low transaction and storage costs of Bitcoin.
However, he acknowledged that Bitcoin still has no practical applications beyond its role as a means of savings. This limits its ability to fully replace traditional assets in certain contexts.$BTC $AGLD $STG
