Gold is like a solid, stable, reliable SUV while bitcoin is like a Ducati Panigale, like a really, really strong motorcycle. Once it starts raining it's getting a bit dangerous and slippery on your motorcycle. However, I think this whole competition between gold and bitcoin is ridiculous. In our funds we combine both. But of course the volatility of bitcoin is tremendously higher as the track record is not 5,000 years. So we have to manage expecations when it comes to gold. Gold's job is not to make you rich. I think mining stocks can make you rich, silver can perhaps make you rich, cryptos and so on. The job of gold is to preserve your purchasing power, to protect your savings. And I think gold is doing that job pretty well.
~ Ronald Stöferle, "Is inflation transitory or not?," interview with Daniela Cambone of Stansberry Research, 11:10 mark, June 16, 2021
No comments:
Post a Comment