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).
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