Bitcoin Will Become "Less Volatile" And Larger Than Gold: 'The Bitcoin Standard' Author

What happened: Saifedean Ammous, author of "The Bitcoin Standard," said Bitcoin already works as a medium of exchange and that its volatility will likely diminish, responding to Professor Lawrence H. White's argument that Bitcoin's fixed supply makes it too volatile for that role. Key numbers: Bitcoin market cap $1.6 trillion; gold near $29 trillion; Bitcoin would need at least 18-fold growth to surpass gold; Bitwise Why it matters: White said the lack of supply response is why stablecoins have taken Bitcoin's transaction volume, while other watchers expect Bitcoin to eventually match gold.

Saifedean Ammous, author of "The Bitcoin Standard," said Bitcoin already works as a medium of exchange and that its volatility will likely diminish, responding to Professor Lawrence H. White's argument that Bitcoin's fixed supply makes it too volatile for that role.

White said the lack of supply response is why stablecoins have taken Bitcoin's transaction volume, while other watchers expect Bitcoin to eventually match gold.