Drop Gold for Bitcoin says Grayscale Investments
- Grayscale Investments have launched a campaign encouraging people to drop Gold for Bitcoin.
- They said: “Cryptocurrencies like bitcoin are the future. They’re secure, borderless, and unlike gold, they actually have utility.
Grayscale Investments launched a new campaign debate to investors, weighing in on the gold versus Bitcoin. Their campaign is dubbed “Drop Gold”.
The Digital Currency Group are encouraging investors to ditch the precious metal gold for its digital counterpart, Bitcoin, which is often touted as the gold of the digital currency space.
In the report Grayscale Investment said:
Everyone loves a piece of gold jewelry, but is gold really the best investment in today’s digital world?” This is the rhetorical question that the website challenges its readers to consider. “Gold represents the past,” it continues, saying that Nixon dropped the gold standard that backed USD back in the ’70s.
They added:
Cryptocurrencies like bitcoin are the future. They’re secure, borderless, and unlike gold, they actually have utility,” the commercial posits. This last point feels a bit too pointed and a tad ironic, considering it ignores gold’s crucial utility (among other things) for computer circuits and the very hardware that allows us to access the internet and, by extension, bitcoin.
Author
Ken Chigbo
Independent Analyst
Ken has over 8 years exposure to the financial markets. He started his career as an analyst, covering a variety of asset classes; forex, fixed income, commodities and equities.
