Bitcoin’s (BTC) price increase has taken all kinds of comments from the woodwork. Although a lot wear a bullish hue, some people still doubt crypto as a new value class. David Rosenberg, the chief economist and strategist, as well as president, of the firm Rosenberg Research & Associates, recently described gold’s supply as more predictable than Bitcoin’s.
“Everyone seems to believe that we will hit that 21 million limit for the supply restriction, but there really is nothing in the protocol to suggest that Bitcoin’s supply cannot increase once we hit that limit,” Rosenberg said in a Bloomberg interview on Thursday.
The 21 million Bitcoin offering is one of the largest selling points as a store of value. The asset also has a consistent flow of BTC in circulation, which will continue until that offer reaches 21 million. Bitcoin’s pseudonymous creator, Satoshi Nakamoto, wrote these parameters into Bitcoin’s code.
Gold, on the other hand, depends on a number of factors. The final supply remains quite uncertain, especially given technological advances that could lead to cheaper gold mining or further discovery.
“All we know about gold is that we know the gold supply curve with certainty,” said Rosenberg. “We don’t know Bitcoin’s future supply curve,” he added. “People think they know, but they don’t really know.”
The economist also called BTC “a huge bubble,” saying people don’t understand the asset’s stock or its maker. “It’s the herd-following classic, extremely busy business,” he said.