The Cardano founder believes that the growing inflow of institutional investments and the recognition of Bitcoin as “digital gold” will bring its value closer to the global gold market. Currently, Bitcoin’s market cap is under $2 trillion, while that of gold is more than $18 trillion.

Many are expecting the upcoming Donald Trump administration to declare Bitcoin a strategic reserve asset and accumulate 1 million BTC over the next five years. According to CNF, the Trump team is working to have a crypto czar position at the White House, with Cardano founder Charles Hoskinson eyeing an advisory role.