Michael Saylor, MicroStrategy CEO, in his opening statements in the interview about Gold Vs. Bitcoin stated, Gold used to be the best solution. It isn’t anymore as the time has come to pass the torch from Gold to Bitcoin. Bitcoin is the world’s effective engineered, monitored system. It is as profound as our rail networks, road networks or electrical networks, our telephone networks and the internet.
He also stated that Bitcoin can, and will deliver the virtues of strong money that gold idealists have long hoped for.
Frank Giustra, Gold financier made it very clear that he does not think that Bitcoin is a safe haven asset yet. He also stated that there is a very good chance that it will never will be. He pointed to that it may aspire to be, but he clarified stating that aspiring to be something does not make it to be so.
He also stated that he would like to point out the risks that exit, but were never addressed. He also stated that he also went ahead to defend some of the statements that Michael Saylor made about gold. In doing all of this Frank Giustra stated that he was trying to draw a distinction between what Bitcoin is, what it isn’t and what it aspires to be. He stated that it was very important for viewers to be understanding that distinction to decide where it fits in a given portfolio. He further stated that viewers deserve to know that risk.
The exhaustive interview runs for a little short of 2 hours. Those who are interested to view the full argument might want to check the YouTube video on it.
Michael reinstated on how Gold is not a good monetary asset and stated that it is possible to inflate and confiscate gold. He also stated that you can counterfeit it and that it is indivisible! When he was trying to make some asset comparisons.
Onlookers to the interview had their own views: Don’t diversify out of bitcoin to a weaker asset! Keep your bitcoin and use it to buy big ticket items directly in the future!
Some of them felt that Bitcoin is ultimately becoming a reserve currency for banks, playing much the same role as gold did in the early days of banking.
Worth watching the two intelligent men in business talk out. However, overall, Michael’s class and his ability to contain himself and stick to the point blew several prospective retailers away with his knowledge and passion for the greatest asset -BTC. However, Frank appeared desperate and like someone who did not do his homework well.
