Crypto is Here to Stay.
‘What about bitcoin, or cryptos?’ asked a former colleague over lunch earlier in the week. ‘Aren’t they just new gold?’
‘Nothing is new gold,’ I told him. ‘Gold is gold. Cryptos are just a new form of money.’
My former colleague reached out to me after being assigned a gold-related project and not knowing where to start.
Given that I’m into all things shiny and forms of sound money, he felt that when it came to understanding gold, he should talk to me.
Throughout lunch, we kicked around the idea of gold’s intrinsic value, what would cause a rally…and my colleague’s desperate attempt to align gold with bitcoin.
Now, I’m the first person to admit that I don’t know a lot about bitcoin and cryptos.
However, one thing I do know is that bitcoin and the other cryptos aren’t here to replace gold. Over thousands of years, the shiny metal has proven itself as an irreplaceable form of money.
That doesn’t mean cryptocurrencies aren’t important. While cryptos won’t replace gold, they are developing into an alternative currency that will exist alongside gold.
Exactly how will that happen? Jim has the answer.
Today, Jim lays out the case against bitcoin…but says the new wave of cryptos could be the game changer.
Until next time,