# Ammous Says Bitcoin Could Surpass Gold and Become Less Volatile

By Token Post

Canonical URL: https://www.tokenpost.com/news/insights/33028
Published: 2026-10-16T04:45:05.000Z
Updated: 2026-10-16T04:45:05.000Z
Section: Insights & Views

> He expects wider use to deepen liquidity, while economist Lawrence H. White argues Bitcoin’s fixed supply makes it too volatile for reliable payments.

Bitcoin could eventually surpass gold in market capitalization and become less volatile as its use as money expands, Saifedean Ammous, author of The Bitcoin Standard, argued Oct. 13.

Ammous expects continued Bitcoin monetization to build larger cash balances and deepen liquidity, which he believes could reduce price swings as the asset matures. He described becoming less volatile than gold and exceeding its market value as future outcomes.

“I expect continued Bitcoin monetization to produce larger cash balances, deeper liquidity, and lower volatility,” Ammous wrote.

Ammous also argues that holding Bitcoin to preserve purchasing power for future spending counts as using it as money, even without widespread day-to-day payments. His view centers on Bitcoin’s potential role as a store of value, alongside its use for transactions.

Economist Lawrence H. White focuses on Bitcoin’s use as a medium of exchange. White argues that its programmed supply cannot adjust when demand changes, leaving its purchasing power more volatile than gold’s and limiting its appeal for payments that require stability. His 2023 book, Better Money: Gold, Fiat, or Bitcoin?, discusses those concerns.

“With no supply response to demand swings, BTC’s price is too volatile for people who want a reliable medium of exchange,” White wrote in an Oct. 11 post.

The disagreement centers on whether deeper liquidity and broader monetary use can reduce Bitcoin’s volatility over time, or whether its fixed supply will continue to make its purchasing power less stable than gold’s. Ammous’ comparison with gold describes a future scenario, not a current condition.