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【Author of The Bitcoin Standard: Bitcoin Will Be Less Volatile and Larger in Scale Than Gold】2018 The author of the academic work The Bitcoin Standard, Saifedean Ammous, posted on X that Bitcoin already performs monetary functions, and holding Bitcoin means using Bitcoin as money. The fact that it has not yet been widely used as a means of payment does not prove that its monetization process will not continue. He believes that as Bitcoin gradually matures, its volatility will be lower than that of gold, and its market capitalization will exceed that of the world's largest precious metal. Ammous's view was a response to related arguments in the book Better Money: Gold, Fiat, or Bitcoin? by American economist Lawrence H. White. Citing Chapter of the book in a post on X, White stated that Bitcoin's supply is fixed and cannot respond on the supply side to changes in demand. Therefore, its price volatility is too high for it to become the reliable medium of exchange people need, which is also why stablecoins have surpassed Bitcoin in transaction volume. Similar assessments had already been made in the industry. 2025 year May, André Dragosch, Head of European Research at Bitwise, told Cointelegraph that its internal forecast is that Bitcoin will reach 2029 in 1000000 USD, at which point its market capitalization could be comparable to that of gold. However, Bitcoin's current market capitalization of approximately 1600000000000 USD would need to grow by at least 18 times to exceed gold's market capitalization of nearly 29000000000000 USD, making it the world's largest asset.