In which asset class would you direct $10,000 in investment capital – bitcoin or gold? There’s one condition. You can’t touch the funds for 10 long years.
According to a Twitter poll crafted by former U.S. Rep. Ron Paul, bitcoin and gold are the top choices, with the leading cryptocurrency having overtaken the precious metal as the investment of choice with more than 55% of the vote. Gold, which earlier in the day was leading, puts up a good showing at 37%. The rest of the votes were spread across the 10-year U.S. Treasury bond, which is yielding less than 2%, and Federal Reserve notes at 6% and 2%, respectively.
Before bitcoin took the lead, Paul’s followers sharpened their knives against gold investors on the Twitter thread, showing a clear preference for crypto.
Ron Paul, who is against the Federal Reserve, is a perfect fit in the crypto community and was recently welcomed with open arms at the Litecoin Summit in Las Vegas. He wants to “eliminate the whole concept of central banking” and is waiting for the day that the government’s “monopoly control over money” comes to a screeching halt:
“The least the amount of government the best,” said Paul.
Bitcoin vs. Gold
As if on cue, Grayscale Investments recently launched its second Grayscale Bitcoin Trust (GBTC) commercial for its “Drop Gold” campaign. Grayscale’s media campaign may take aim at gold, but the mainstream financial media has been taking its shots at bitcoin. Bloomberg in a report cites a Texas academic who claims “a lone whale was behind bitcoin manipulation in 2017.” These are the same researchers who suggested “Tether was used to prop up the price following dips” during bitcoin’s 2017 bull run.