This assertion highlights some significant issues and criticisms while also contributing to a larger discussion regarding Bitcoin’s possible use as a benchmark for value measurement. The foundation of Brandt’s argument is the notion that Bitcoin may be more accurate or representative of true value than more conventional measures of value like gold or fiat currencies.
Homes are comparatively more affordable when gold is taken into account, as gold has historically been seen as a reliable store of value. Nonetheless, Bitcoin is beginning to be recognized as a novel form of digital gold that has the ability to replace traditional money standards, even in spite of its volatility. Brandt contends that given Bitcoin’s notable 10-year appreciation, homes priced in BTC would now seem significantly less expensive than those priced in dollars or even gold.
The volatility of Bitcoin is a key issue that should not be disregarded. Bitcoin has experienced significant ups and downs, which makes it a potentially unreliable metric for pricing something as important as real estate. Moreover, the idea of using Bitcoin as a global standard for valuing real estate is still purely theoretical because of its comparatively low acceptance in regular transactions and its unstable regulatory environment.
This article was originally published on U.Today
Source: Cryptocurrency - investing.com
