My thoughts on Gold, vs Bitcoin, vs Stocks based on this video and this video.

There are times when all the Gold has the same market cap as all stocks in the world (e.g. 1970s). But that is only during significant shifts in the monetary regime.

The rest of the time, stocks have more market cap than gold.

Bitcoin’s true value is in that it cannot confiscated/policed like stocks (ESG)/gold. To the extent that “Bitcoin is treated like an asset that you buy through regulated exchanges which require KYC, blacklisted on-chain for not being woke enough, and taxed for being anti-establishment, or anti-environment”, it has failed its most important feature: that it cannot be confiscated/policed.

So now that Bitcoin can be confiscated/policed it is just a fintech stock. It acts like a fintech stock e.g. Paypal. The market has spoken.

Also the proliferation of layer-1 deflationary currencies, is inflationary as a whole. It creates more options to (e.g. Monero/MINA) transfer value, and so the monetary premium of every currency-like medium falls. And yes I mean Gold, MINA, Monero, Bitcoin, Ethereum will all fall because there are more options now. Gone are the days when we only had Gold, and Silver to communicate value now we have 1000s of cryptocurrencies.

TLDR: Cryptocurrencies are like fintech stocks that do not pay dividend.