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Thursday, September 5, 2024

Gold Vs Bitcoin a Common Sense Approach.

 


There's still an argument about whether you'd be better off investing in Gold or bitcoin to weather the coming storm.

Consider this:

Central Banks all own gold.  This provides a Global Use for gold as a rerserve currency.  

No Central Bank owns bitcoin.  Thus Bitcoin has no use value.  It has only a completely arbitrary trade value.

Central Banks are buying gold aggressibely especially China and India and Russia and the rest of the Brics + nations.  That is because they will use Gold reserves as a backing for a settlement currency to compete with the US Dollar in the trade for Global Commodities.

Central Banks are not buying any bitcoin.  They have no use for it.

Moreover, consider this:

China has issued its own Digital Currency.

Consequently China made Bitcoin Illegal as it doesn't want a competing digital currency.

Eventually all Governements will have digital currencies.

Eventually all Governments will make all competing digital currencies illegal.  Why wouldn't they?

At that point what will Bitcoin be worth?  To whom?

Use your common sense.


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