 
 
Former Coinbase CTO Balaji Srinivasan has stated that the rise of Bitcoin is likely to make it the primary store of value in the near future, replacing real estate in the process. He gave these comments during a BitcoinAsia conference in Hong Kong.
Srinivasan said:
“When Bitcoin wins, Real Estate falls in real terms. People will actually stop using houses as a store of value and use Bitcoin for all that, leaving houses, apartments providing a utility only.”
Srinivasan is known for his innovations and techno-utopian ideas. He has helped promote a startup live-in culture in Malaysia, known as Forest City, which is recognized for its focus on creating utopian dwellings that support remote work and crypto-friendly societies.
A Future of Decentralized, Geographically Diverse Societies
The tech executive believes that the focus of future society will be less on shared geography and history, but rather on technology, cryptocurrency, and shared values.
 
“Just like at age 18 you choose your college, at age 18 you’ll choose your country”, said Srinivasan during the same BitcoinAsia conference. He is known to dislike corporate Silicon Valley in the United States and has advocated for the former’s eventual exit from the country, citing stifling innovation and valuable disruption. His argument to create new kinds of societies and even countries is a constant feature in his actions. His work The Network State: How To Start a New Country speaks about a future of decentralized states that can be geographically disconnected from each other.
His additional disdain for the real estate sector and focus on technology could be a blueprint for a new kind of living or just an elitist exercise in the middle of nowhere by rich disruptors. It is hard to say which one.
Is Bitcoin a Currency or a Store of Value?
Bitcoin is the first cryptocurrency to come out in the world, and since then, it has gone on to command a market capitalization of more than $2 trillion. Despite the success of the major cryptocurrency, some critics point out its obvious limitations in acting like a mainstream currency, similar to some of the fiat systems currently in use.
However, Bitcoin proponents have long countered that the term “currency” in cryptocurrency shouldn’t be mistaken for a replacement for the current legacy fiat currencies. It is an entirely new concept and is primarily suited for the store-of-value proposition, such as gold or real estate. Bitcoin’s acceptance by institutional investors has also followed the pattern of store-of-value commodities like Gold and Silver, with ETFs taking the lead.
Source: https://zycrypto.com/bitcoin-to-replace-real-estate-as-primary-store-of-value-says-former-coinbase-cto/
