He noted that people are offered "some kind of money or gold" as a means of accumulation.
"When it comes to currencies, they are all centralized, with unlimited issuance; they completely disregard standards, [...] embarking on an independent journey, and are subject to a vast array of risks," said Nosov.
According to the businessman, the lack of limits on issuance is the main issue with currencies.
"Now let's take gold. At one point, it served as a bridge between service and goods producers and consumers. The fundamental basis upon which everything around gold rests is that someone told us the issuance of gold is limited. In other words, gold is not infinite," emphasized the businessman.
He pointed out that the value of gold would change if, hypothetically, "some alchemist" discovered a formula for producing gold, or if, for example, "a gold reserve of 500 million tons was found in Africa."
"What is the basis for our belief in gold? It's based on the fact that someone told us it is scarce," explained Nosov.
According to him, skeptics of "Bitcoin" often claim that "Bitcoin can never be digital gold," yet they themselves invest and hedge (open trades in one market to offset risks in another market) in "gold that is not backed by anything in reality."
On January 6, the price of gold, according to data from the World Gold Council (WGC), exceeded $2646 per ounce. Later, the price decreased.