{"id":278866,"date":"2020-12-05T08:11:41","date_gmt":"2020-12-05T13:11:41","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=278866"},"modified":"2020-12-05T08:11:41","modified_gmt":"2020-12-05T13:11:41","slug":"steve-forbes-declares-bitcoin-too-volatile-to-serve-as-store-of-value","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/steve-forbes-declares-bitcoin-too-volatile-to-serve-as-store-of-value","title":{"rendered":"Steve Forbes Declares Bitcoin Too Volatile To Serve As Store Of Value"},"content":{"rendered":"<p>Steve Forbes is a magnate in the financial space, owning the Forbes news outlet, but the man seems to have some negative opinions of <a href=\"https:\/\/insidebitcoins.com\/buy-cryptocurrency\/buy-bitcoin\">Bitcoin<\/a>. According to Forbes, Bitcoin actually saw positive price actions thanks to the monetary policy\u2019s general Fear, Uncertainty, and Doubt (FUD).<\/p>\n<h2>Going For Gold Over Bitcoin<\/h2>\n<p>Through a YouTube show called \u201cWhat\u2019s Ahead,\u201d Forbes explained that Bitcoin\u2019s recent boom is primarily thanks to FUD when it comes to central banks across the world. The short of it is people are scared that these central are printing out too much money, which will lead to the devaluation of their respective fiat currencies, in turn.<\/p>\n<p><iframe title=\"Bitcoin Could Become The Digital Gold - Steve Forbes | What&#039;s Ahead | Forbes\" width=\"640\" height=\"360\" src=\"https:\/\/www.youtube.com\/embed\/DXdeUEeu97k?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe><\/p>\n<p>As such, Steve Forbes has other plans. The two-time presidential candidate is betting on the old faithful gold to hedge his wealth, instead of the current trend with institutional players of using Bitcoin as a store of value.<\/p>\n<h2>Past Experience Making Decisions Of New Technologies<\/h2>\n<p>Now, it should be noted that Steve\u2019s father, Malcolm Forbes, was the one that started the Forbes magazine, with his son now running the operations in his stead. This means that the man himself is no trained economist, but he knows money quite intimately. Much can be said for experience over training, and Steve is citing this for why he isn\u2019t convinced that Bitcoin will help preserve the Forbes family fortune.<\/p>\n<p>Commenting on this, he cited Bitcoin\u2019s price that keeps changing, sometimes quite violently. He said the price could hop from steaks to dog food in value just like that, before suddenly turning into fillet just after that.<\/p>\n<h2>Forbes: Gold Prices Only Change On USD Value<\/h2>\n<p>Another critical argument made was Bitcoin\u2019s finite supply. Forbes went as far as to describe this supply limit as arbitrary in his arguments against it. Forbes further stated that Bitcoin just isn\u2019t stable enough to serve as a long-term store of value, as opposed to gold.<\/p>\n<p>Here\u2019s where it gets interesting: Forbes stated that Bitcoin and Gold are far too dissimilar to be compared with each other. Forbes argues that fluctuations in the dollar <a href=\"https:\/\/www.kitco.com\/gold-price-today-usa\/\">price of gold<\/a> aren\u2019t gold\u2019s value fluctuation, oh no. Instead, Forbes argues that this is instead the value of the USD changing. Now, this logic would imply that gold cannot receive greater demand than it already has, which would naturally boost the price regardless of the USD\u2019s value.<\/p>\n<p>Another key argument is gold\u2019s supply increasing by around 2% a year. God gets mined out of a finite supply, then sold and distributed at a slow pace. Bitcoin has a similar system in place, but Forbes is adamant that BTC isn\u2019t digital gold, at least not yet. In his eyes, it still needs to evolve.<\/p>\n","protected":false},"excerpt":{"rendered":"<div class=\"fin-excerpt\">Steve Forbes is a magnate in the financial space, owning the Forbes news outlet, but the man seems to have some negative opinions of Bitcoin. <a class=\"read-more-link\" href=\"https:\/\/insidebitcoins.com\/news\/steve-forbes-declares-bitcoin-too-volatile-to-serve-as-store-of-value\" title=\"Steve Forbes Declares Bitcoin Too Volatile To Serve As Store Of Value\">[&#8230;]<\/a><\/div>","protected":false},"author":1717,"featured_media":278868,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[7596],"tags":[734,5319,7599,7893,8552],"class_list":["post-278866","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-bitcoin","tag-btc","tag-market","tag-trading","tag-usd"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.8 (Yoast SEO v23.8) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Steve Forbes Declares Bitcoin Too Volatile To Serve As Store Of Value<\/title>\n<meta name=\"description\" content=\"Through a YouTube show called \u201cWhat\u2019s Ahead,\u201d Forbes explained that Bitcoin\u2019s recent boom is primarily thanks to FUD.\" \/>\n<meta name=\"robots\" content=\"index, follow, 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