Lin Zhichen, the general manager of Taiwan Mobile, attended the 'Taiwan Digital Asset Forum' organized by the Taiwan Digital Asset and Open Technology Association (DAOTAT) on 10/23, where he delivered a speech starting from his experience of investing in Bitcoin (BTC) in 2013, sharing a story of holding for 12 years with a return rate of up to 150 times. He pointed out that the value of BTC comes from a new consensus among humanity on 'scarcity and trust', symbolizing the shift from the era of gold to digital assets.
Bought BTC in 2013, annualized return rate 58%
He recalled that at the end of 2013, he bought Bitcoin for the first time on Coinbase at a price of $656.22. He stated:
"That one I have held until now, the return rate is about 150 times, with an annualized return rate of 58%."
He jokingly said that as a venture capitalist, no investment can surpass this one, and I did nothing but buy and hold.
The value logic of BTC is the new generation of gold.
Lin Zhichen pointed out that the value of BTC comes from "scarcity and consensus," just like gold. He stated:
"Gold cannot be eaten or used, but humanity believes it is rare. As long as consensus exists, it has value."
The scarcity of Bitcoin is fixed by algorithm, with a total supply limit of 21 million coins, maintained by global miners spending billions of dollars to uphold consensus. He emphasized that this is the first time in human history that an asset with "guaranteed scarcity" has been created using mathematics and algorithms.
Four reasons why BTC is superior to gold
Lin Zhichen lists the reasons why BTC is superior to gold:
Portable: It is impossible to carry a box of gold when fleeing, but remembering the wallet password allows you to carry assets.
Storage is cheap: Gold requires a vault, BTC only needs a cold wallet or password.
Verification is simple: Gold requires weight measurement, BTC can check records on the blockchain.
Easy to divide: It can be as small as 0.00000001 coins.
He said the key to BTC's value is that "more and more people choose to use it to store trust," which is the process from "trust to value."
BTC can maintain high returns because it transitions from trust to value storage
Lin Zhichen concluded that over the past 12 years, BTC has maintained high returns because more and more people choose to use it to store value, and trust continues to expand. He emphasized:
"Just like now more and more countries are reducing their US debt and buying gold, Bitcoin is also experiencing the same process of trust transfer."
This article Lin Zhichen: Bitcoin is the best investment of my life, its reserve nature surpasses gold. Initially appeared in Chain News ABMedia.
