Bitcoin is more valuable than Gold or Picasso's art, says Frank Holmes

Bitcoin’s role in the global economy is still evolving but Frank Holmes, Executive Chairman of Hive Digital Technologies, and investor Armando Pantoja agree that its long-term trajectory is far from settled.

Speaking with Roundtable host Rob Nelson, they debated whether Bitcoin will return to being a currency, evolve into a technological powerhouse, or cement itself as the ultimate store of wealth.

Pantoja believes Bitcoin’s long-term adoption will take place over a century or more, meaning that its impact on the U.S. dollar will be gradual.

“This phase that we’re in may take 20, 25 years before it reaches its true value to start converting back to a currency,” he said. “I think Bitcoin… this is a long, long-term adoption that’s going to take place over a hundred, 150 years. We may not see Bitcoin become a currency in our lifetime. Maybe our kids will see it, or maybe our grandkids will see it.”

However, in the next few decades, Bitcoin could strengthen the U.S. dollar if it becomes a reserve asset for the US Treasury, experts agree.

“Back to the question about could it affect the U.S. dollar… when we’re in this midterm 20, 30 years from now, I think it’s going to take before it converts back to being a currency, it will strengthen the U.S. dollar by holding Bitcoin in the U.S. coffers. The U.S. dollar will be strengthened for the next 20 years until it goes back to being a currency,” Pantoja said.

Holmes agreed, adding that China and Russia already see Bitcoin as a financial tool to acquire more dollars.

“If you think of the producers right now, America’s the biggest, but China and Russia are still big producers. They want Bitcoin because they can get… it’s a conversion for them for dollars.”

Bitcoin as an asset like Picasso or Warhol?

Holmes believes Bitcoin’s ultimate value is not just as a currency but as a rare and collectible store of wealth — like fine art.

“I believe having a Picasso print—if you have one of the original prints, they’ve gone up dramatically. Andy Warhol’s paintings, they’ve gone up a hundredfold,” Holmes said.

He compared Bitcoin to a unique collector’s item, especially Bitcoin that has never been circulated.

“One of the things we’ve done at HIVE is that we only mine with green energy, and we store as many coins as possible. I think we have over 2,800 Bitcoin, but they’ve never been in circulation and they’ve come from Green Source when we’ve been offered premiums to buy those coins. And to me, it’s a piece of art.”

Holmes believes that Bitcoin’s portability and scarcity make it even more valuable than traditional stores of wealth like gold or fine art.