Whenever there is a sustained crypto bull market, there is always some surprise when a correction occurs. However, when there is a 20% drop in the value of Bitcoin over a weekend, there is often more motion sickness felt by coin holders than simply surprise. The sudden plummeting price of Bitcoin in recent days triggered a freefall that wiped away an estimated $200 billion from the entire cryptocurrency market within days, so naturally this experience jolted some coin holders.
Yet, amid the market-wide drop in digital coin values, META 1 Coin managed to slightly increase its value. META 1 Coin Trust also just acquired additional gold that will be gradually assigned to the coin in fractional increments via smart contracts. These additional gold assets will add further stability and facilitate growth for META 1.
Other cryptocurrencies that are not backed by any assets, such as Bitcoin and Ether, tend to experience high degrees of volatility in value as witnessed in recent days. Gold-backed META 1 Coin benefits from greater stability and is less prone to major swings in value due to greater trust in the assets backing the coin. META 1 Coin Trust also consistently acquires new gold assets to further stabilize and facilitate growth.
Cryptocurrencies that aren’t backed by any assets are highly speculative. Their growth is propelled simply by the fact that coin buyers believe in their potential. When and if that aura of confidence fades, those digital coins tend to collapse rather suddenly, much like how XRP recently plummeted.
Conversely, gold has historically held an innate value throughout all market conditions. Even during the Great Depression, when market confidence fell worldwide and even banks lost public support and closed, gold retained its everlasting value. Therefore, META 1 Coin is backed by gold as a means of providing built-in confidence for its value.
As new gold assets are acquired by META 1 Coin Trust, smart contracts embedded in the coin verify the authenticity of the new assets and gradually assign fractional values. This process facilitates gradual growth in value over time, subject to market conditions. Since META 1 Coin was designed to be a coin for Humanity, non-human entities are not permitted to buy it. This restriction also limits high volume trading which often contributes to high volatility with other coins.
As a social enterprise, META 1 Coin Trust is also motivated by the goal of expanding freedom and abundance for Humanity. Large corporations have numerous options for increasing their wealth. However, many individuals struggle to get ahead within a system that is often stacked against them. For example, modern society’s obsession with materialism and accumulating personal debt on depreciating assets contribute to a form of financial enslavement that limit wealth accumulation and financial freedom.
META 1 is dedicated to the growth of META 1 Coin as a tool for driving abundance and breaking the cycle of financial struggle so that freedom is accessible to the masses without being chained by debt and excessive regulations long peddled by large banks and government agencies.