Senior Analyst EB Tucker Claims ‘Bitcoin Should Never Be Compared With Gold’
- A number of gold supporters do not seem to be worried by the fact that the precious metal is a comparatively ‘fixed value asset’.
- In Tucker’s opinion, gold is a ‘store of wealth’ that will never be used for facilitating daily payments and monetary transactions.
Over the past year or so, a heated debate between Gold and Bitcoin has been raging across the globe — with a number of experts claiming that BTC is a far superior SOV (Store of Value) when compared with the precious yellow metal.
#Bitcoin vs. #Gold is not even a debate; "it’s like walking versus air travel," said E.B. Tucker of Metalla Royalty & Streaming | @KitcoNewsNOW @DanielaCambone | #kitconews #finance #investing #markets #crypto #economics #cryptotrading $GLD $BTC | More on https://t.co/Q8hcZvWcKA
— Kitco NEWS (@KitcoNewsNOW) June 12, 2019
With that being said, it should be pointed out that while proponents of the flagship crypto asset have hailed the offering as a boon, believers of Gold have completely brushed aside the theory that the two are even comparable.
For example, E. B. Tucker of Casey Research, LLC. was recently quoted as saying that Gold is miles ahead of Bitcoin due to its “profound history” of being an efficient SOV for more than a millennium. On the subject, the respected financial analyst further pointed out:
“With Bitcoin there is only about $160-$150 billion overall while gold is an 8 trillion dollar market. You see asset managers and people have to move funds in and out of these assets. Bitcoin is not a functional space to store money.”
Tucker is of the opinion that a massive economic crisis is currently on the horizon and as this uncertainty keeps on increasing, more and more people will turn towards gold for financial refuge.
American billionaire Ray Dalio — who is also the founder of Bridgewater Associates — has reportedly increased his hedge fund position in gold by a huge margin this past financial quarter.