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18 January 2021

Self-Proclaimed Contrarian Investor Bashes Bitcoin Digital Gold Narrative

Self-Proclaimed Contrarian Investor Bashes Bitcoin Digital Gold Narrative


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Self-Proclaimed Contrarian Investor Bashes Bitcoin Digital Gold Narrative.

But one self-proclaimed contrarian investor with a focus on bullion, says that digital gold makes little sense, and compared it – ridiculously – to “digital steak.” Here’s why Simon Mikhailovich’s comparison itself doesn’t make sense.

Bitcoin was designed by Satoshi Nakamototo share several key attributes with gold and other precious metals, chiefly, their scarce supply.

The “digital gold” narrative that has emerged since Paul Tudor Jones said that Bitcoin could outpace the then trending shiny yellow metal, has taken the forefront and even managed to capture the imagination of high wealth investors?

So perhaps the digital gold narrative is wrong, but solely due to the fact that nicknaming it after the precious metal, despite decades of the gold standard, would be selling the cryptocurrency a few coins short.

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