As someone who spent 15 years in the Precious Metals space – as a mining company officer and consultant; bullion dealer Marketing Director; well-known commentator; and all-in investor; I’m as attuned to the concept of MONEY as anyone you’ll find. Not to mention, the fact I may be the ONLY “gold guy” to have embraced Bitcoin early, and become well-known in the crypto realm, too. To that end, I’ve been writing nearly daily of the virtues of BTC HODLing since January 2016, when I commenced my own journey towards all-in investment – which occurred last summer, when SegWit locked in.
I’ve done hundreds, if not thousands of articles, podcasts, and Tweets about the concept – and observed radical changes in just a few years of something that hadn’t changed for millennia…when Bitcoin gained acceptance, usurping gold’s 5,000-year leadership in the sound money realm. To that end, if you told me a few years back that I, the world’s biggest Precious Metals bull, would be selling his gold for Bitcoin…and turning EXTREMELY gold-bearish…I would have said you’re crazy. This is the power of Bitcoin – which CANNOT, and WILL NOT, be stopped.
I could write volumes of why the traditional metrics of money, that APPEARED to apply to gold, have been turned on their head by Bitcoin - as when one looks at the situation objectively, they realize gold is not actually decentralized, fungible, scarce, practical, divisible, logistically easy to transport or store, or universally usable as a means of exchange. Not to mention, it is trading at an all-time low inflation-adjusted valuation – as opposed to Bitcoin, which has exploded relative to inflation, but still trades at a market capitalization barely 1% that of gold. Which, I might add, is in REALITY 0.01% or less, given that gold has been diluted into oblivion by a “paper” market at least 100x that of physical gold – that continues to expand, and will NEVER get smaller.
So, if you want to invest in what money WAS, go right ahead and buy gold – and watch its inflation-adjusted value, liquidity, and desirability continue to decline…especially as the older generations that own it bequeath it to their heirs, who will promptly sell it for cryptocurrency. Alternatively, you can invest in the first NEW MONEY the world has seen in millennia – which likely, will dominate the monetary landscape for centuries to come…Bitcoin!