Trey Reik, managing member of the Bristol Gold Group, highlights the key arguments from the Bitcoin versus gold debate with Kitco News anchor David Lin.
Reik said that many Bitcoin buyers were once frustrated gold investors who were disappointed with the metal’s performance over the last 10 years.
“The number one emotion that I feel about Bitcoin on a day to day basis is jealousy,” Reik said.
However, Bitcoin still fails many of the litmus tests as a store of value, which is fundamentally what gold is.
“If you’re investor, both institutional and retail, and you’re looking for a long-term store of value, in my opinion gold fits that bill and Bitcoin’s not yet really in the debate. If you’re looking for a decentralized asset, completely free of oversight or institutional involvement, Bitcoin is what you’re looking for,” he said.
For more on which asset serves as a better investment vehicle and inflation hedge, as well as Reik’s outlook on prices, watch the video above. Follow David Lin on Twitter @davidlin_TV (https://twitter.com/davidlin_TV).
Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.
