RE: Weiss Ratings: Gold’s Upside Now Pales in Comparison to Bitcoin
Bitcoin over gold. Bitcoin over everything
Gold’s Upside Now Pales in Comparison to Bitcoin (BTC): Weiss Ratings
“Weiss Ratings predicts the value of gold will increase once the coronavirus pandemic is over, but says its upside pales in comparison to that of Bitcoin (BTC).
According to the crypto ratings agency, the digital nature of Bitcoin gives it several advantages over gold, the traditional hedge against inflation.
‘Government bureaucrats cannot inflate away the purchasing power of your gold like they can with fiat currency. But they can send their storm-troopers stomping in to seize it.
In 1933, a U.S. President famously confiscated all the gold in America. Australia’s 1959 Banking Act empowered the government to force private citizens to turn in their gold for paper currency. [And] in 1966, Britain’s Labor government made it illegal for any person to own more than four precious metal coins.
Don’t think stuff like this can’t still happen. Bankrupt, spendthrift governments — especially when their backs are against the wall — will grab just about any assets they can lay hands on.’”
For all its shine and luster, gold pales in comparison to Bitcoin….