The Bitpanda CEO Believes Bitcoin is The Millennial Gold Rush 2.0

On the 24th of February 2020, Eric Demuth, Bitpanda’s CEO, referred to Bitcoin as Gold 2.0, the better version of gold. He spoke during the Blockchain Economy 2020 conference in Istanbul, Turkey.

Demuth also spoke about Turkey as its first expansion hub outside the European Union. It is due to its high demand and other factors such as its geographical size, proximity, and cultural infinity.

Comparing Digital Currencies with Precious Metals

The Bitpanda Exchange trades Bitcoin and other precious metals, including platinum, gold, and silver. Demuth referred to Bitcoin as the superior Gold and said that as the demand for virtual currency increases exponentially, the demand for precious metals also inclines.

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Scarcity, high liquidity, functionality, cheap transaction costs, and portability are some of the factors making Bitcoin superior, said Demuth. According to Demuth, the cryptocurrency industry continues to establish itself as a whole new self-sufficient asset class that might never vanish. He says there can never be a world without digital assets and virtual currencies.

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