Longtime Bitcoin bull Max Keiser says gold has only one advantage over the world’s leading crypto asset in terms of market capitalization.
Why is gold superior?
In a new interview with Stansberry Research’s Stansberry Research veteran, the Wall Street veteran acknowledges that Gold is superior to Bitcoin, despite being a vocal Bitcoin proponent, because it preserves its features while simultaneously shifting according to its owner and providing anonymity.
“The only feature that gold does not currently have with Bitcoin is tradeability. Gold can be exchanged to the extent that Bitcoin does not. Fungibility means you can melt your gold and reform it in another way, and as gold it keeps its integrity and is completely anonymous. It can be changed completely. Because Bitcoin is digital, it is a public blockchain, you do not have the same flexibility as it is transparent. ”
According to traditional economic definitions, Bitcoin is not 100% exchangeable, unlike gold, which can take on a completely new form after melting, as the blockchain allows you to see the history of each coin. According to Keiser, the lack of privacy in the Bitcoin blockchain could be the reason for the massive decline in criminal activity using BTC. Most criminals prefer cash or other assets.