Venture capitalist Lou Kerner says bitcoin is well on its way to replacing gold as the dominant store of value, noting that its market cap has already surpassed that of silver.
“What [bitcoin] has evolved into is a store of value,” Kerner told Bloomberg. “Today, the main store of value is gold. It’s an $8 trillion [market]. Bitcoin today is around $60 billion, so it has an opportunity to actually replace gold as the dominant store of value.”
Kerner doubled-down on his remarks from August 2018, when he predicted that BTC would supplant gold as the most trusted store of value.
Kerner, the founding partner of New York-based CryptoOracle, said despite the current bear market, crypto would be a far more disruptive technology than the Internet.