Why bitcoin tycoon Barry Silbert thinks bitcoin will replace gold
Barry Silbert is one of the biggest Bitcoin supporters there is.
He was able to purchase 48,000 Bitcoin for $350 in 2014. With the price of $8,000 presently, he received a fantastic return. His view is there was no better investment over the last 5 years than Bitcoin.
The run is far from over in his view. In this video, he compared Bitcoin to gold. He feels that people should dump their gold for Bitcoin because it can provide the same store of value with a few other benefits. The fact that Bitcoin has a utility to make global payments far exceeds gold's minimal use case for jewelry and electrionics.
Gold is a $7 trillion market while Bitcoin is around $100 billion. Seeing gold move to $20 trillion requires a large move. Bitcoin at $300 billion is not outlandish.
Click on link to view video.
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I'm going to drop the gold, aren't you?
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I think it would be a safe move to hold some of both. Keep that portfolio diverse. Both BTC and gold have their purpose.