GET 10% OFF ON YOUR FIRST ORDER. FOR A LIMITED TIME ONLY. Use code: WELCOME on checkout

‘OG’ Bitcoin Supporter Says Crypto Will Surpass Gold And Oil – Details

An OG Bitcoin advocate made a bold forecast that demand for Bitcoin will increase rapidly in the near future, bolstering the estimates of some crypto experts that BTC is on a trajectory to hit the six-figure level.

OG, short for “original gangster” or “original gangsta,” is a slang expression for someone who is exceptional, unique, or “old-school.”

The BTC supporter also suggested that the coin is moving in the direction that will allow the crypto to outshine gold, the US dollar, and other major assets soon.

Rising Over Gold, Greenback

ShapeShift CEO Erik Voorhees, an early investor of Bitcoin, sees that the cryptocurrency would surpass the major assets in the upcoming months, saying that the coin has “high potential” to eclipse fundamental assets such as gold, the US dollar, and even oil.

In a post, Voorhees pointed out that when the appetite for gold rises, gold production will surge while if the demand for oil rises, more oil will be extracted. He added that more US dollars are printed, once the demand for the greenbacks soar, saying that supply for these assets would not run out in the upcoming years.

However, the founder of the Venice.AI project hinted that it is not the same case with Bitcoin when demand for it increases. It is an indication that additional BTC cannot be produced because Satoshi Nakamoto, the creator of Bitcoin, only designed the cryptocurrency not to exceed 21 million coins.

Bitcoin-Gold Relationship

Earlier, another Bitcoiner, Max Keiser, believed that there is a relationship between the price of gold and Bitcoin price, saying that BTC price could soar because of gold.

Keiser explained that for every $1 increase in gold prices, BTC prices also experienced a hike of $20, adding that since gold prices hit a record amount, Bitcoin prices are more likely to follow suit.

Expecting A Bitcoin Surge

Voorhees is already telling the cryptocurrency community to keep an eye on Bitcoin because he predicts that all aspects of the coin will move upward including its price.

The ShapeShift executive remarked that this attribute of Bitcoin would be the main factor why demand for the coin will soar quickly.

In the past few days, several crypto experts have already projected the inevitable growth of Bitcoin, saying that its price will breach the six-figure level.

19 Million BTC Mined

Reports have shown that over 19 million BTC circulating in the crypto market today, is the highest it has ever been.

Analysts said many of these coins have been stored in “cold wallets” for numerous years, saying that a portion of these BTCs are owned by Bitcoin EFTs.

A Chinese cryptocurrency journalist estimated that over 5% of all Bitcoins in the market are in the possession of Bitcoin EFTs with an approximate net value of $72.545 billion.

Featured image from Pexels, chart from TradingView

Latest Press

default post thumbnail
News
2 hours ago
Dogwifhat (WIF) Shines With 15% Rally In The Past Week — Is $2.8 The Next Stop?
The emergence of Donald Trump as the president-elect of the United States has been one of the bigges...
READ MORE
default post thumbnail
News
2 hours ago
Crypto Analyst Predicts Notcoin Price To Surge 76% — Here’s How
The Notcoin price has been in red-hot form in the past day, and a popular crypto analyst on the X pl...
READ MORE
default post thumbnail
News
2 hours ago
Bitcoin Stock To Flow Model Reveals $500,000 Price Target
According to data from CoinMarketCap, Bitcoin (BTC) has gained by 0.66% in the past 24 hours with it...
READ MORE
post-thumbnail
News
2 hours ago
Will Shiba Inu Price Jump Over 300%? This Analyst Thinks So
Experts are confident that Shiba Inu could potentially undergo a massive price surge on the back of ...
READ MORE
default post thumbnail
News
2 hours ago
Bitcoin Climbs to $79,600 All-Time High, Fuels Broader Crypto Market Rally
Bitcoin soared to a historic high of nearly $80,000 on Sunday, fueled by renewed optimism within the...
READ MORE
default post thumbnail
News
2 hours ago
Bitcoin Stock-to-Flow Model Back on Track, Predicts $500K Per BTC: PlanB
After surging by more than 15% within a week, as well as breaking its March all-time high and charti...
READ MORE
post-thumbnail
News
2 hours ago
Double-Digit Price Surges From These Altcoins as Bitcoin (BTC) Eyes $80K (Weekend Watch)
It feels like a bull cycle once again as bitcoin’s price continues to chart new all-time highs alm...
READ MORE
post-thumbnail
News
2 hours ago
Dogecoin (DOGE) Rallies 12% to 3-Year High Amid ‘Face-Melting’ Price Predictions
The largest meme coin by market cap has continued its rally, which was solidified by Donald Trump’...
READ MORE
default post thumbnail
News
2 hours ago
This Is What Happened to the Bitcoin, Ethereum ETFs During US Election Week: Recap
In perhaps one of the most intriguing and important weeks for the US, local investors showed uncerta...
READ MORE
post-thumbnail
News
2 hours ago
Cardano (ADA) Soars 30% Daily as Founder Charles Hoskinson Makes Big Announcement
Charles Hoskinson, the founder of IOG, the entity behind Cardano, has returned from his recent absen...
READ MORE

Publish an article now

Unlock the power of media for instant visibility to the target audience, major SEO boost, greater website traffic and conversion rates.

click here to get started