Analyst Willy Woo Says Bitcoin Could Flip Gold’s Trillion-Dollar Use As Financial Hedge This Year

Analyst Willy Woo Says Bitcoin Could Flip Gold’s Trillion-Dollar Use As Financial Hedge This Year


On-chain cryptocurrency analyst Willy Woo says Bitcoin could eclipse gold’s use as a financial hedge in less than a year.

Woo tells his 210,000 Twitter followers that the portion of gold’s market cap that is actually used as a hedge against inflation could rapidly lose its dominance to Bitcoin.

Woo says only two-fifths of gold’s supply, worth $4.4 trillion, is currently serving a financial purpose. Assuming the price of gold stays constant, BTC would overtake the yellow metal as a financial hedge at a price of $240,000. Woo says the “flippening” could happen in a matter of months.

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“The Flippening. 40% of gold’s supply is available for financial use; the rest locked up in jewelery/industry.

Gold cap: $11T
Gold’s “financial use” cap: $4.4T

At gold’s present price, #Bitcoin at $240k will flip Gold’s use as a financial hedge. This could happen in 12 months.”

Bitcoin is currently trading at around $37,500 and would have to appreciate by about

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