PlanB Explains Reason Behind Bitcoin Being His First Choice

July 9, 2020      Vandana Malik

PlanB, the creator of Bitcoin stock-to-flow, S2F model has recently explained the reason behind Bitcoin being his first choice. On July 07, he has explained it through a series of a tweet that why he started moving towards cryptocurrency and why Bitcoin became his first choice. The major reason that he states here is the scarcity of Bitcoin that drove him towards it. Along with this, he has also said that Bitcoin is not likely to get negative interest rates.

PlanB is known as outspoken BTC Supporter

It has been seen that PlanB has been known as an outspoken BTC supporter since very long. In his price model, various predictions regarding Bitcoin has been made. Currently, it shows that by the end of 2024, the price of Bitcoin will reach around $288,000. This is highly bullish predictions regarding the price of Bitcoin. Since a very long time now, it has been seen that the S2F model tracks Bitcoin with high accuracy. According to him, there are still a lot of people who are unaware of Bitcoin and its functions. Along with other revelations, he has also said that instead of having zero interest, one should have negative. He claimed this by giving the example of the people of the Netherlands. He believes that it is completely pointless that people of Netherlands have deposited $400 billion in banks where they are not getting any interest.

Can’t use fiat or gold on Mars

PlanB kept on giving examples to the people that why he prefers Bitcoin over other currencies. He even said that on Mars people will not be able to use gold or dollar, there they will Bitcoin because nothing else can’t be used there. Along with this, he has also said that it is not possible to freeze Bitcoin account or block the transactions which are quite common when it comes to regular bank accounts.

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Vandana Malik
Vandana Malik

Vandana has received Master of Arts degree in English from GEU Dehradun. She is currently working as a content writer with Agio Support Solutions and earlier worked as a sub-news editor at Business News and Information Services Private Limited. She is an enthusiastic content writer and aims to bring a compelling yet informative content to the audience. Meanwhile, enhancing her own knowledge in the cryptocurrency and blockchain industry.