With the rise of bitcoin prices, there has been a discussion about whether it will threaten the status of gold. The similarity between bitcoin and gold is that they are regarded as the carrier of wealth with value storage, and have strong anti inflation property, which can effectively hedge the risk of devaluation of currency. However, there are also differences between them, especially bitcoin has obvious advantages in storage cost, identification cost and transaction convenience. On the whole, bitcoin is difficult to replace gold as a global reserve asset in the short term.

Mike McGlone, a Bloomberg commodities strategy analyst, also tweeted that bitcoin's pace of replacing gold as a value store in an investor portfolio is accelerating. Mike mcgrone believes that while precious metals always have a place in the collection of jewelry and coins, bitcoin seems to be "pushing out old hedges" to replace it as an inflation hedging tool.

Some industry experts say that in the long run, with the advantages and values of digital assets such as bitcoin recognized by more and more institutions, some sovereign wealth funds and even some national central banks will also include bitcoin into the asset allocation scope in the future, and may replace gold as reserve assets in the future.

Some people think that "even if bitcoin is fired to 60000 dollars, it is not large in overall scale and cannot be compared with gold", and bitcoin is not a currency, and the Central Bank of China has not recognized its currency status, and it is unlikely to replace gold in the future. Unlike gold, bitcoin price fluctuates greatly, and the downside risk comes with it while rising.

(2021-3-18)