Wyre CEO Michael Dunworth has stated that he believes Bitcoin “will replace gold” and the USD as the global reserve currency within 20 years.
The chief of the Silicon Valley transfer provider made the comments as part of an
interview with InvestorDaily.
Among other
surprises, Dunworth said that Bitcoin had “
superior value” to gold and lacked only market penetration at the current time.
Better store of value
“[Bitcoin] will replace gold, and internationally it will replace the USD as the global reserve currency – 20 years or so from now that is,” he told the publication.
“Bitcoin has a superior value to gold in its store of value and usability. However, it has received nowhere near the same penetration.”
Dunfield is just the latest cryptocurrency industry figure to champion Bitcoin’s inherent use case as a
store of value rather than a currency.
Amid last week’s
price surge, fellow entrepreneur Vinny Lingham stated that Bitcoin as a currency was in the final stage of a long process, one that is not the most important in 2017.
He tweeted that its major importance is first as a commodity and subsequently as a store of value.