Saifedean Ammous argues that Bitcoin already functions as money when held as a store of value; expects it will become larger and less volatile than gold as it matures.
Saifedean Ammous, the author of the 2018 academic book “The Bitcoin Standard,” said that Bitcoin already functions as a medium of exchange and that volatility’s effect on that is likely to diminish.
Bitcoin (BTC) can serve as a medium of exchange as it becomes less volatile than gold while surpassing the market capitalization of the largest precious metal, wrote Ammous in a Tuesday X post.
“Holding Bitcoin is using Bitcoin as money, and its lack of widespread use as a method of payment is no evidence against its monetization unfolding,” added Ammous.
