#BTC🌪️ #BTCVSGOLD #gold
Will Bitcoin outshine gold as store of value? Anthony Scaramucci, Erik Voorhees, Nouriel Roubini and Peter Schiff weigh in
In a heated live debate organized by ZeroHedge and presented on YouTube, billionaire investor Anthony Scaramucci of SkyBridge Capital sparred with top analyst Peter Schiff over whether Bitcoin (BTC) or gold serves as a better inflation hedge. They were joined by the CEO of ShapeSchift Erik Voorhees and Nouriel Roubini, a professor of economics at NYU.
#BTC as digital gold
Peter Schiff, a longstanding critic of Bitcoin, opened the debate by arguing that Bitcoin, originally created as a digital currency, fails to function effectively due to its slow and expensive nature. Bitcoin proponents are attempting to reposition it as a digital version of gold, Schiff said. Still, in his view, it falls short of gold's intrinsic value derived from its physical properties. “Bitcoin is no more digital gold than an image of a hamburger is digital food,” Schiff noted. He emphasized gold's tangible utility in industries like jewelry and electronics, contrasting it with Bitcoin, which he believes lacks practical uses and utility. Regarding gold's enduring value, Schiff asserted that it retains its intrinsic properties over time, serving as a genuine store of value. He also argued that the perceived value of Bitcoin is merely based on speculative demand and does not reflect any inherent usefulness or practical applications.
#BTC🌪️ as asset.
Scaramucci countered Schiff's argument by highlighting that only 5% of gold's value is derived from manufacturing purposes, with the majority attributed to its acceptance as a store of value. He emphasized that Bitcoin, like gold, has a deflationary aspect due to its fixed supply. Scaramucci views Bitcoin as "digital gold," noting its portability compared to physical gold. He also pointed that Bitcoin is following an adoption curve that will impact its value over decades, likening it to the trajectory of tech stocks that became standard over time and contributed to the S&P 500 index.
BTC breaks $63K.
Cryptocurrencies rebounded on Friday, driven by a rise in Bitcoin's (BTC) price, raising optimism that the recent drawdown may be subsiding. BTC climbed nearly 5%, briefly surpassing $63,000.
This surge followed a cooler-than-expected U.S. April jobs report, which alleviated concerns about potential increases in interest rates.

#BTCbullish #BTCbetterInvestment #BTCVSGOLD #BTC☀
It's been a remarkable year for Bitcoin (CRYPTO: BTC) investors. Since the beginning of 2023, Bitcoin has skyrocketed by 307%, fueled by the approval of spot exchange-traded funds (ETFs) and the April halving event.
Gold has also approached record highs, buoyed by positive market sentiment. While Bitcoin and gold are often compared as investment options, Bitcoin emerges as the superior choice.
Comparing Bitcoin and Gold
Both Bitcoin and gold share key characteristics that make them appealing to investors. Scarcity is a crucial factor: Bitcoin has a fixed supply cap of 21 million coins, while gold is limited by its natural reserves in the Earth's crust. This scarcity principle suggests that the prices of these assets should rise as demand increases. Gold has long been viewed as a reliable store of value due to its limited supply.
Additionally, both assets have practical uses. Gold is mainly used in jewelry and some industrial applications. Bitcoin, however, is valued for its decentralized nature, which lowers transaction costs and enables global money transfers without a central authority.
The Edge of Bitcoin
Despite their similarities, Bitcoin has distinct advantages that make it a better investment than gold. Firstly, although gold's supply is finite in theory, it continues to be mined. The U.S. Geological Survey notes that 77% of the gold in the Earth's crust has been mined, leaving a significant amount still to be extracted. If demand for gold surges, mining companies could ramp up production, altering the supply dynamics.
In contrast, Bitcoin's supply is fixed at 21 million coins. This cap is a core aspect of Bitcoin's design, and changing it would undermine the entire network's value proposition. This fixed supply contributes to Bitcoin's price volatility but also its potential for appreciation.
Moreover, as a digital asset, Bitcoin is easier to store and transport than physical gold. Bitcoin can be divided into smaller units, making it more versatile for transactions. Unlike gold, which cannot be easily divided for everyday use, Bitcoin offers greater convenience.
The debate over store-of-value further emphasizes Bitcoin's superiority. Over the past five years, Bitcoin's price has surged by 718%, turning a $1,000 investment in June 2019 into nearly $8,200 today. In comparison, gold's price has only risen by 73% over the same period, despite significant economic challenges like the pandemic, inflation, and rising interest rates.
Looking Ahead
Bitcoin and gold will likely continue to be compared as investment assets. However, over the next five to ten years, Bitcoin appears to offer greater investment potential. Its fixed supply, ease of use, and significant appreciation make it a compelling choice for investors seeking to enhance their purchasing power over time.
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