Is Bitcoin a store of value?

1 min reading

Bitcoin is often compared to gold as an asset with a specified value. However, not everyone shares this belief.

Lawrence Meyers opinion on Bitcoin as a store of value

Lawrence Meyers is a journalist and author of over 2500 articles about fintech. His extensive knowledge and education in physics have helped to create many economy and environment-friendly solutions. Education is one thing, skill is entirely different. Meyers, thanks to his contacts in the financial world, has gained knowledge of this subject. That's how Bitcoin came onto the scene. Lawrence Meyers has been opposing Bitcoin since the very beginning. He has even started to try to convince others to stop investing in it. Not long ago he said that buying BTC is "for losers".

Store of value

Meyers has recently started looking into the popular comparison of Bitcoin to the gold. As everyone knows, gold is a store of value, and a good one at that. He begins his argumentation with the fact that to recognize something as a store of value, it must be considered as property exchangeable for another thing. Since the exchanging person wants to have something from the other person, they naturally consider the desired item to be worth more. Here is Ed Butowsky's opinion:
A real store of value maintains its utility and purchasing power regardless of the circumstances.
There are also comparisons to water, which gets more expensive in cases of natural disasters. Meyers sticks to his opinion that money is not a store of value, but only a means of exchange. History has shown that cases of hyperinflation will not stop money from losing value. Gold, silver and even Bitcoin are similar in this case.