Bitcoin analyst Willy Woo responded to investor Gary Cardone’s doubts, stating that the current market value of gold is approximately $32 trillion. If it continues to play the role of a global currency anchor, its reasonable value should be around $103 trillion. He claims that the traditional view of gold as a “financial asset” is an “illusion” shaped by the U.S. government and Wall Street, and that gold has essentially existed as currency for thousands of years.

Woo believes that Bitcoin is striving to become a global hard currency similar to gold. According to this logic, the price of Bitcoin corresponds to about $5 million per coin. He also pointed out that the global fiat currency system has only been in operation for about 55 years, which, compared to the thousands of years of hard currency history, resembles an “experiment.”