Benzinga – Naval Ravikant, a renowned investor and venture capitalist, expressed his views on Bitcoin’s (CRYPTO: BTC) role as a primary store of value.
What Happened: On Friday past midnight, Ravikant took to X, formerly Twitter, to write, “Perhaps Bitcoin is the true L1 (the store of value) and every other chain is competing for L2 (the medium of exchange).”
Perhaps Bitcoin is the true L1 (the store of value) and every other chain is competing for L2 (the medium of exchange).
— Naval (@naval) June 21, 2024
Over the years, Bitcoin’s narrative as a store of value and inflation hedge has been aggressively promoted by its passionate advocates. The narrative has been strengthened by King Crypto’s staggering 109x value jump in the last 10 years, a feat that is yet to be equaled by assets from traditional finance, including…
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