Proponents of gold and bitcoin often hail from the same ideological background: Austrian economists, dollar bears, Libertarians tired of State manipulation of fiat currencies and, generally, the anti-Fed crowd. Yet shared principles have not eased the age-old rivalry between the two assets.
Relative to Bitcoin, gold lost considerable value last year, only to rebound somewhat in the last month amid a flood of Chinese institutional and retail buying. However, as Benjamin Graham said: “In the short run, the market is a voting machine, but in the long run, it is a weighing machine.” So we are more interested in the fundamentals:
Does Bitcoin’s instant transferability and infinite portability make it the superior asset/security? Or is it a worthless string of numbers with infinite substitutes?
Will gold’s thousand-year history as the preferred monetary commodity continue in the digital age? Or does its reliance on third-party custodians (at least at scale), and significant bulk, make it inferior to BTC?
We’ll answer these questions, and more, tonight, at 7pm ET, when ZeroHedge is partnering with Crypto Banter to bring together top macroeconomic minds to debate.
In the anti-crypto corner is the man whose name is synonymous with “gold”, infamous crypto bear Peter Schiff. Alongside Schiff will be “Dr. Doom”, renowned economist Nouriel Roubini.
Arguing in favor of crypto will be Anthony Scaramucci - wealth manager with over $10 billion in AUM - as well as day-one crypto veteran Erik Voorhees, founder of ShapeShift and torch-bearer for the asset class’s libertarian roots.
The debate will be moderated by Ran Neuner, founder and host of Crypto Banter, one of the largest digital asset news channels on YouTube.
ZeroHedge would also like to thank our sponsors for this debate: Preserve Gold and BITLAYER — “Layer 2. The future of Bitcoin.” Whether you’re a fan of gold or Bitcoin, you probably see the wisdom in diversifying away from U.S. dollars. Do so by visiting their websites and checking out their products.
ZeroHedge Goldbugs can access a special offer from Preserve Gold by texting “ZERO” to 50505.
