US Global Investors CEO Praises Bitcoin But Says Millennials Should Not Forget About Gold Too

Although Bitcoin (BTC) is great, Millennials need to learn about gold. This is what the CEO of the asset management firm US Global Investors, Frank Holmes, said at the Consensus conference in New York. Holmes believes that the digital currency is going to become an alternative asset class but it does not mean that younger investors shouldn’t learn about gold.

Millennials Need to Learn About Gold

During the Consensus conference in New York, the CEO of US Global Investors and HIVE Blockchain Technologies explained that Bitcoin will become an alternative asset class. During a conversation with Kitco News, he said that the signal that the bottom occurred in the market was JP Morgan launching its own digital currency.

On the matter, he commented:

“They trash talked Bitcoin all the way down until February of this year when they released their coin. All of a sudden we had a bottom in Bitcoin.”

Back in December 2018, Bitcoin dropped to $3,200 and since that moment it started growing. At the same time, he mentioned that the number of wallets continued to increase even during the bear market, which means that Bitcoin is entering a new bull cycle based on top of a great base.

Holmes went on saying that the crypto market should recover more quickly than other crashes. He has also mentioned that the bear market of 2018 was not caused by overleveraging. Since its all-time high in 2017, Bitcoin dropped more than 82% until it finally reached a bottom.

He has also talked about the #DropGold campaign that was promoted by Grayscale Investments a few weeks ago. Holmes stated that people and investors shouldn’t see Bitcoin as a replacement of gold. Moreover, he attacked millennials by calling them ignorant and their desire to rebel against anything.

About it, he explained that millennials should do their homework about why is gold so important and significant.

“If you have a crisis, your paper money goes down in tremendous value. Gold is what bailed out Britain, getting it over to Canada, and then trading to get weapons from America, it was gold that did it,”

he said.

The #DropGold campaign has already been viewed by more than 1 million individuals on social media. This number is much larger because it does not include TV commercial numbers. The goal behind this campaign was to start a conversation regarding gold and Bitcoin and to attract new investors to the crypto market.

At the time of writing this article, Bitcoin is being traded around $7,300 and it has a market capitalization of almost $130 billion. An ounce of gold is currently worth $1277.

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.

Carl T
Carl T
Carl is a legend in cryptocurrency space for his long-storied experience, history and insights. He is a digital nomad who fell in love with bitcoin and its offspring for many years now and prides himself on delivering quality perspectives in the emerging world of crypto-assets and blockchain technology.

[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


Please enter your comment!
Please enter your name here


Live Bitcoin Price & Latest BTC Charts

Today's Latest Crypto News

YFI’s Andre Cronje isn’t Going Anywhere; ‘This Space Won't Get Rid of Me'

Andre Cronje, the guy behind yEarn and the popular YFI, is not leaving the cryptocurrency space any time soon, at least, “until there is...

Crypto Mom, Hester Peirce, Secures Second Term as SEC Commissioner Through 2025

The US Securities and Exchange (SEC) Commissioner Hester Peirce, aka “Crypto Mom,” has been confirmed for a second term that will last till June...

yEarn Expanding its Ecosystem to Bring in Hot DeFi Tokens into the Mix

DeFi craze continues to get hotter as the system grows. yEarn’s zero supply valueless token YFI climbed to a new high today at $5,300 and...

Bitcoin Dollar Cost Averaging From 2017 Market Peak Still Returned 61.8%

Bitcoin price remains strong, not far from hitting $12,000 yet again after the touch and go over the weekend. Interestingly, despite the fact that the...

DEX Leader Raises $11 Million in Series A Funding for Uniswap V3 Following an Explosive Month

A popular and widely used decentralized exchange (DEX) Uniswap has raised $11 million in Series A funding led by Andreessen Horowitz with additional investment...

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.

Start Using Crypto Today