Max Keiser, a Bitcoin commentator famous for his segment the Keiser Report, recently interviewed Mark Valek, publisher of ingoldwetrust.org report, and discussed the ongoing debate on the comparison between Bitcoin and Gold.
In the interview, Keiser asked Valek about the ‘rivalry’ between gold-proponents and crypto supporters and asked him for his opinion on the matter, considering Valek has been prominently involved with both assets.
Valek indicated that he preferred not to be dogmatic in this current debate between gold and Bitcoin. He believed that Bitcoin was a tremendous invention, and suggested that it could someday become a new global reserve currency in the best-case-scenario. He also added, if that situation did not ‘materialize’, Bitcoin’s contribution toward the understanding of fiat currencies and the financial industry would be majorly commended.
Keiser pointed out to him in the interview that Valek had positioned Bitcoin in ‘institutional accounts’ in his report. Keiser also implied that Bitcoin was no-longer a trivial activity of computer-savvy individuals but rapidly becoming a factor in the financial ecosystem and changing the economic infrastructure.
Valek opined on the matter and stated that the characteristics of store-of-value for gold and bitcoin was acting as the final insurance back-up for the failing central banks. With negative rates and negative yield bonds increasing day by day, people would look toward as asset that could be idealized as money. He added,
“In terms of stock to flow ratio both assets really were hard money and people could realize that this could serve as a part of store of value, and a pragmatic trader could play this very well in a combined portfolio of gold and bitcoin.”