Bitcoin Volatility Remains Major Hurdle to 'Digital Gold' Status

Bybit CEO Ben Zhou recently stated that Bitcoin is still far from being considered 'digital gold' due to its volatility. He noted that this characteristic makes it difficult for traditional financial institutions to view it as a reliable store of value.

Zhou's comments, reported by crypto commentator @WuBlockchain, indicate the challenges Bitcoin faces in achieving wider acceptance.

Bitcoin's journey toward becoming a stable store of value continues to face hurdles. The cryptocurrency's volatility is a significant barrier for traditional financial players who may otherwise embrace it as a reliable asset.

Zhou also pointed out that stablecoins might be more effective for everyday transactions, indicating a potential shift in how cryptocurrencies are utilized in commerce.