{"id":650920,"date":"2024-11-01T02:00:12","date_gmt":"2024-11-01T02:00:12","guid":{"rendered":"https:\/\/uniquehot.com\/?p=650920"},"modified":"2024-10-31T12:53:15","modified_gmt":"2024-10-31T12:53:15","slug":"og-bitcoin-supporter-says-crypto-will-surpass-gold-and-oil-details","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/og-bitcoin-supporter-says-crypto-will-surpass-gold-and-oil-details\/","title":{"rendered":"&#8216;OG&#8217; Bitcoin Supporter Says Crypto Will Surpass Gold And Oil &#8211; Details"},"content":{"rendered":"<p>An OG Bitcoin advocate made a bold forecast that demand for Bitcoin will increase rapidly in the near future, bolstering the estimates of some crypto experts that BTC is on a trajectory to hit the six-figure level.<\/p>\n<p>OG, short for \u201coriginal gangster\u201d or \u201coriginal gangsta,\u201d is a slang expression for someone who is exceptional, unique, or \u201cold-school.\u201d<\/p>\n<p>The BTC supporter also suggested that the coin is moving in the direction that will allow the crypto to outshine gold, the US dollar, and other major assets soon.<\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/uniquehot.com\/news\/tethers-1-billion-usdt-mint-on-tron-whats-fueling-the-demand-surge\/\" target=\"_blank\" rel=\"noopener \">Tether\u2019s $1 Billion USDT Mint On Tron: What\u2019s Fueling The Demand Surge?<\/a><\/div>\n<h2><strong>Rising Over Gold, Greenback<\/strong><\/h2>\n<p>ShapeShift CEO Erik Voorhees, an early investor of Bitcoin, sees that the <a href=\"https:\/\/www.coingecko.com\/\" target=\"_blank\" rel=\"noopener nofollow\">cryptocurrency<\/a> would surpass the major assets in the upcoming months, saying that the coin has \u201chigh potential\u201d to eclipse fundamental assets such as gold, the US dollar, and even oil.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">When demand for gold rises, more gold is produced.<br \/>\nWhen demand for oil rises, more oil is produced.<br \/>\nWhen demand for USD rises, more USD are produced.<\/p>\n<p>When demand for Bitcoin rises&#8230;<\/p>\n<p>\u2014 Erik Voorhees (@ErikVoorhees) <a href=\"https:\/\/twitter.com\/ErikVoorhees\/status\/53756954?ref_src=twsrc%5Etfw\" rel=\"nofollow\">October 29, 2024<\/a><\/p><\/blockquote>\n<p>In a post, Voorhees pointed out that when the appetite for gold rises, gold production will surge while if the demand for oil rises, more oil will be extracted. He added that more US dollars are printed, once the demand for the greenbacks soar, saying that supply for these assets would not run out in the upcoming years.<\/p>\n<p>However, the founder of the Venice.AI project hinted that it is not the same case with Bitcoin when demand for it increases. It is an indication that additional BTC cannot be produced because Satoshi Nakamoto, the creator of Bitcoin, only designed the cryptocurrency not to exceed 21 million coins.<\/p>\n<figure style=\"width: 1835px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full\" src=\"https:\/\/www.tradingview.com\/x\/yZ4oIXai\/\" width=\"1835\" height=\"883\"><figcaption class=\"wp-caption-text\">BTCUSD is now trading at $72,128. Chart: <a href=\"https:\/\/www.tradingview.com\/\" target=\"_blank\" rel=\"noopener nofollow\">TradingView<\/a><\/figcaption><\/figure>\n<h2><strong>Bitcoin-Gold Relationship<\/strong><\/h2>\n<p>Earlier, another Bitcoiner, Max Keiser, believed that there is a relationship between the price of gold and Bitcoin price, saying that BTC price could soar because of <a href=\"https:\/\/goldprice.org\/\" rel=\"nofollow\">gold<\/a>.<\/p>\n<p>Keiser explained that for every $1 increase in gold prices, BTC prices also experienced a hike of $20, adding that since gold prices hit a record amount, Bitcoin prices are more likely to follow suit.<\/p>\n<h3><strong>Expecting A Bitcoin Surge<\/strong><\/h3>\n<p>Voorhees is already telling the cryptocurrency community to keep an eye on Bitcoin because he predicts that all aspects of the coin will move upward including its price.<\/p>\n<p>The ShapeShift executive remarked that this attribute of Bitcoin would be the main factor why demand for the coin will soar quickly.<\/p>\n<p>In the past few days, several crypto experts have already projected the inevitable growth of Bitcoin, saying that its price will breach the six-figure level.<\/p>\n<figure id=\"attachment_650921\" aria-describedby=\"caption-attachment-650921\" style=\"width: 622px\" class=\"wp-caption aligncenter\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"wp-image-650921 size-full\" src=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/10\/a_f8c783.png?resize=622%2C606\" alt=\"\" width=\"622\" height=\"606\" srcset=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/10\/a_f8c783.png?w=622 622w, https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/10\/a_f8c783.png?w=460 460w, https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/10\/a_f8c783.png?w=46 46w\" sizes=\"auto, (max-width: 622px) 100vw, 622px\"><figcaption id=\"caption-attachment-650921\" class=\"wp-caption-text\">Source: <a href=\"https:\/\/bitbo.io\/how-many-bitcoin\/\" target=\"_blank\" rel=\"noopener nofollow\">Bitbo<\/a><\/figcaption><\/figure>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/uniquehot.com\/news\/cardano-to-soar-22x-analyst-sees-opportunity-despite-on-chain-decline\/\" target=\"_blank\" rel=\"noopener \">Cardano To Soar 22X? Analyst Sees Opportunity Despite On-Chain Decline<\/a><\/div>\n<h3><strong>19 Million BTC Mined<\/strong><\/h3>\n<p>Reports have shown that <a href=\"https:\/\/bitbo.io\/how-many-bitcoin\/\" target=\"_blank\" rel=\"noopener nofollow\">over 19 million BTC circulating<\/a> in the crypto market today, is the highest it has ever been.<\/p>\n<p>Analysts said many of these coins have been stored in \u201ccold wallets\u201d for numerous years, saying that a portion of these BTCs are owned by <a href=\"https:\/\/bitcoinist.com\/wall-street-giant-morgan-stanley-bets-big-on-bitcoin-etf-272-million-revealed\/\" target=\"_blank\" rel=\"noopener nofollow\">Bitcoin EFTs<\/a>.<\/p>\n<p>A Chinese cryptocurrency journalist estimated that over 5% of all Bitcoins in the market are in the possession of Bitcoin EFTs with an approximate net value of $72.545 billion.<\/p>\n<p><em>Featured image from Pexels, chart from TradingView<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>An OG Bitcoin advocate made a bold forecast that demand for Bitcoin will increase rapidly in the near future, bolstering the estimates of some crypto experts that BTC is on a trajectory to hit the six-figure level. OG, short for \u201coriginal gangster\u201d or \u201coriginal gangsta,\u201d is a slang expression for someone who is exceptional, unique, or \u201cold-school.\u201d The BTC supporter also suggested that the coin is moving in the direction that will allow the crypto to outshine gold, the US dollar, and other major assets soon. Related Reading: Tether\u2019s $1 Billion USDT Mint On Tron: What\u2019s Fueling The Demand Surge? Rising Over Gold, Greenback ShapeShift CEO Erik Voorhees, an early investor of Bitcoin, sees that the cryptocurrency would surpass the major assets in the upcoming months, saying that the coin has \u201chigh potential\u201d to eclipse fundamental assets such as gold, the US dollar, and even oil. When demand for gold rises, more gold is produced. When demand for oil rises, more oil is produced. When demand for USD rises, more USD are produced. When demand for Bitcoin rises&#8230; \u2014 Erik Voorhees (@ErikVoorhees) October 29, 2024 In a post, Voorhees pointed out that when the appetite for gold rises, gold production will surge while if the demand for oil rises, more oil will be extracted. He added that more US dollars are printed, once the demand for the greenbacks soar, saying that supply for these assets would not run out in the upcoming years. However, the founder of the Venice.AI project hinted that it is not the same case with Bitcoin when demand for it increases. It is an indication that additional BTC cannot be produced because Satoshi Nakamoto, the creator of Bitcoin, only designed the cryptocurrency not to exceed 21 million coins. Bitcoin-Gold Relationship Earlier, another Bitcoiner, Max Keiser, believed that there is a relationship between the price of gold and Bitcoin price, saying that BTC price could soar because of gold. Keiser explained that for every $1 increase in gold prices, BTC prices also experienced a hike of $20, adding that since gold prices hit a record amount, Bitcoin prices are more likely to follow suit. Expecting A Bitcoin Surge Voorhees is already telling the cryptocurrency community to keep an eye on Bitcoin because he predicts that all aspects of the coin will move upward including its price. The ShapeShift executive remarked that this attribute of Bitcoin would be the main factor why demand for the coin will soar quickly. In the past few days, several crypto experts have already projected the inevitable growth of Bitcoin, saying that its price will breach the six-figure level. Related Reading: Cardano To Soar 22X? Analyst Sees Opportunity Despite On-Chain Decline 19 Million BTC Mined Reports have shown that over 19 million BTC circulating in the crypto market today, is the highest it has ever been. Analysts said many of these coins have been stored in \u201ccold wallets\u201d for numerous years, saying that a portion of these BTCs are owned by Bitcoin EFTs. A Chinese cryptocurrency journalist estimated that over 5% of all Bitcoins in the market are in the possession of Bitcoin EFTs with an approximate net value of $72.545 billion. Featured image from Pexels, chart from TradingView<\/p>\n","protected":false},"author":557,"featured_media":650923,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,1119,6664,2209,3247],"class_list":["post-650920","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-btc","tag-crypto","tag-gold","tag-oil"],"acf":[],"yoast_head":"\n<title>Bitcoin Supporter Says Crypto Will Surpass Gold And Oil - Details<\/title>\n<meta name=\"description\" content=\"An OG Bitcoin advocate made a bold forecast that demand for Bitcoin will increase rapidly in the near future, bolstering the estimates of some crypto\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/uniquehot.com\/news\/og-bitcoin-supporter-says-crypto-will-surpass-gold-and-oil-details\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bitcoin Supporter Says Crypto Will Surpass Gold And Oil - Details\" \/>\n<meta property=\"og:description\" content=\"An OG Bitcoin advocate made a bold forecast that demand for Bitcoin will increase rapidly in the near future, bolstering the estimates of some crypto\" \/>\n<meta property=\"og:url\" content=\"https:\/\/uniquehot.com\/news\/og-bitcoin-supporter-says-crypto-will-surpass-gold-and-oil-details\/\" \/>\n<meta property=\"og:site_name\" content=\"NewsBTC\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/newsbtc\" \/>\n<meta property=\"article:published_time\" content=\"2024-11-01T02:00:12+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-10-31T12:53:15+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/10\/a_8eb766.jpg?fit=4708%2C3139\" \/>\n\t<meta property=\"og:image:width\" content=\"4708\" \/>\n\t<meta property=\"og:image:height\" content=\"3139\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Christian Encila\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@newsbtc\" \/>\n<meta name=\"twitter:site\" content=\"@newsbtc\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Christian Encila\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/uniquehot.com\/news\/og-bitcoin-supporter-says-crypto-will-surpass-gold-and-oil-details\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/uniquehot.com\/news\/og-bitcoin-supporter-says-crypto-will-surpass-gold-and-oil-details\/\"},\"author\":{\"name\":\"Christian Encila\",\"@id\":\"https:\/\/uniquehot.com\/#\/schema\/person\/a2d6e9b600c0ed5252bbfc4170c3dd80\"},\"headline\":\"&#8216;OG&#8217; 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But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn. Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats \u2013 a testament to his dedication to his furry companions (more on that later). Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin\u2019 helps him analyze and write meticulously formatted articles even better. Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies. Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects. 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But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn. Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats \u2013 a testament to his dedication to his furry companions (more on that later). Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin\u2019 helps him analyze and write meticulously formatted articles even better. Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies. Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects. 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