More

    Barrick Gold Executive Believes Bitcoin and Crypto Assets Are Not Competitive With Gold

    The North America COO of Barrick Gold, known as the largest gold mining company in the whole world, recently talked about whether the crypto industry can be considered a threat to the gold industry or not.

    According to Catherine Raw, crypto's are simply not competitive with gold. She affirmed this at the Most Powerful Women International Summit, which was organized by Forbes. Raw claimed that gold has a very tangible nature and that it will always have value.

    Bitcoin, however, can have zero value if people don’t believe that it is a worthy asset, so gold always takes the lead in these cases.

    She also claimed that gold has real uses. People can use it both in jewelry or in the electronics industry, meaning that it will have some value left even if people stop believing in its power as a store of value. Raw did admit, however, that crypto's are here to stay and that they may not be completely forgotten anytime soon.

    One issue that Raw did acknowledge was that the gold industry did not have many young investors. According to her, it is important to win back these younger investors between 20 and 40 years, as they are more interested in other assets at the moment. She also tried to dispel the notion that only “old people” still buy gold, as countries such as India and China are buying a lot of it.

    Raw’s ambition is to get these new investors over time, as she believes that the gold industry has “its head in the sand” because it is simply ignoring such a big demographic in the industry.

    Get Free Email Updates!

    *Action* Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

    I will never give away, trade or sell your email address. You can unsubscribe at any time.

    Avatar
    James W
    James is a cryptocurrency enthusiast, an advocate for the development and exposure of blockchain technology, and believes in the use of digital assets for the good of the society. Enthralled by the huge potential of cryptocurrencies and their underlying technology – blockchain – James dedicated himself to learn more about the industry, becoming a highly sought-after writer in the sector. He covers news, white papers and any content related to cryptocurrency and blockchain in general.

    [Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

    [Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

    LEAVE A REPLY

    Please enter your comment!
    Please enter your name here

    3,345FansLike
    2,772FollowersFollow
    4,134FollowersFollow

    Live Bitcoin Price & Latest BTC Charts

    Today's Latest Crypto News

    Microsoft Files Patent To Mine Cryptocurrencies With Verified Body Activity Data

    Giant software manufacturer, Microsoft is seeking to capitalize on the new crypto hype. The firm is seeking to introduce its own cryptocurrency that will...

    Coinbase Commerce Crosses $200,000,000 In Crypto Payments Since Launch

    Covid-19 hasn't kept consumers from using bitcoin (BTC) as a means of payments for goods and services according to a merchant transaction report from...

    Singapore Exempts Binance, Coinbase, Gemini, and Ripple From its Current PSA Crypto Act

    Singapore is counted among one of the crypto hubs of the world as it offers ease of business for these crypto service providers when...

    The World Has Gone Full Crypto in 2020; Volatility is Up, Stocks Are trading like A Sh*tcoins

    The global markets are on a rollercoaster for the past few weeks, one day they are recording historical one-day gains the next they are...

    South Korea May Get A New Crypto Custodian After Largest Bank Files Trademark App

    KB Kookmin Bank, the largest bank in South Korea, is preparing to launch its cryptocurrency custody service as soon as possible. As per the local...

    BitcoinExchangeGuide is a hyper-active daily crypto news portal with care in cultivating the cryptocurrency culture with community contributors who help rewrite the bold future of blockchain finance. Subscribe on Google News, see the mission, authors, editorial links policy, investment disclaimer, privacy policy. Got News? Contact us, we are human too. Note: nothing here is financial advice, do your own research thoroughly.