Humans like to make analogies to understand new things better. It makes complete sense why we would look for one in the case of Bitcoin. 

Bitcoin is a novel concept to most people hearing about it for the first time, and can require great effort to grasp fully. Using the phrase “digital gold” to describe Bitcoin is incredibly palatable, and even if you don’t understand the functionality of the network, you can know certain things to be true: Bitcoin is scarce, global, and a store of value.

This narrative has worked well, ushering in institutional and nation-state adoption. The first section of President Donald Trump’s executive order establishing the Strategic Bitcoin…

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