For some, bitcoin is the creme de la creme of assets. Others say its gold. But is one really better than the other?
The meteoric rise in bitcoin’s price over these past few weeks has re-ignited this debate. As you might expect, there has been no shortage of opinion about the topic.
Bitcoin has often been coined ‘digital gold’ if not ‘peer-to-peer gold.’ And just last week, a highly discussed video by the digital currency asset company Greyscale added additional fuel to the ongoing dialogue surrounding this theme.
Prominent Bitcoin investor Barry Silbert, founder and CEO of the Digital Currency Group, parent of Greyscale offered his sentiments by tweeting:
This led noted gold bug Peter Schiff to tweet:
Schiff is an interesting voice in this debate. Some consider him to be a bit of a curmudgeon while in other camps, he is seen as a brilliant observer of markets.
He has been notorious though in his antipathy toward bitcoin. Schiff advocates for gold noting its history back to around 600 BC as evidence of…