Folks who distrust the government, eschew paper assets and fear inflation wrought by monetary and political instability.
Also, gold’s performance against inflation, deflation and the dollar is iffy at best — and when the world collapses, it won’t be gold you want but bullets and whiskey.
They also note that gold dealers, prices and fees are not regulated, and while you can choose securities, many often deviate from the metal’s price.
As a digital asset, it is the most convenient asset to own — accessible via the internet anytime, anywhere.
All this leads many to conclude that Bitcoin and blockchain, the underlying technology built to create bitcoin, are the most revolutionary technological innovations since the internet itself.
Yet the most compelling argument of all is the fact that Bitcoin’s supply is truly fixed, unlike that of gold.
There are only 47 million millionaires in the world; if they each wanted just one Bitcoin, they couldn’t get them.
Guggenheim pegs Bitcoin’s future price at $400,000.
I’ve been engaged in the Bitcoin community since 2012 and am founder of the RIA Digital Assets Council, creator of the Certificate in Blockchain and Digital Assets for financial advisors.
There’s no need to choose between the two.
Let’s argue instead about whether your clients should own bonds during a period of rising tax rates, interest rates and inflation.