My reasoning is that gold is useful. Bitcoin can be replaced at any time and go to zero easily. Most other investment vehicles are either a product or commodity. Bit coin is neither. It's biggest advantage was to be able to hide the transaction from the feds, but they can even track it now. Also the growth is not based on anything real. It's just demand rises because people hear about it. Very much like a ponzi scheme.
I would say the only difference between gold and Crypto is that gold has a natural supply limit and thus scarcity.
Crypto? I have no idea. But it doesn’t sound like it.
Different cryptos has different supply levels. Some are infinite. Some are set.
Set how? By whom?
The 21 million cap and the supply schedule are backed by community consensus and set through its code. Bitcoin's code is opensource so anyone could create an alternative version with a different supply schedule or cap. This is called a fork and there are dozens of Bitcoin forks out there with limited value as they don't have the network effects, the decentralization or the security of BTC, which are all important to its value proposition.
An article I read recently (yeah I read things) made the case that Tesla buying $1.5 billion of BTC is a bad sign that it doesn't have any uses of the cash right now.
Do municipalities assess a sales tax if you buy something with BTC?
Look at where the 10 year UST was 6 months ago and where it is now. If rates continue to march back towards 2% - 3% on the 10 year UST, it will be a bloodbath for crypto with the smart money moving into bonds while a bunch of millennials will be left with the dicks in their hands (assuming they still identify as male).
I agree with your premise but I'd argue rates can't march back that high...will blow the Federal Budget up and cascade to blowing the economy up. No govt or Fed official will sign off on that, at least until the immediate alternative is worse.
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