Bitcoin and Gold have always been something people argue about being the most valuable and best. While some say that Gold is real and Bitcoin is not, others believe in the gains that both these assets have given us in the last decade. While Bitcoin skyrocketed to prices never seen before, Gold has been giving negative returns over the last decade. And even in this time of need, when inflation is at its peak, Gold is failing. And this is why it makes sense when Billionaire Paul Tudor prefers Bitcoin over Gold.
Paul Tudor now prefers Bitcoin over Gold
In a recent interview with CNBC, Paul Tudor, founder of the asset management firm Tudor Investment Group, talked about the asset he prefers to hedge against inflation. There he said that there is clearly a place for crypto. He also added that at the moment, crypto is winning the race against Gold, and even he will prefer it at the moment. Paul also said that he holds crypto in his portfolio, and his allocation is in single digits. This shows that even though he prefers it, he is proceeding with caution.
Paul also talked about the increasing inflation rates and said he is worried about it. It is a major threat to the US financial markets, according to him. And this is why everyone is looking to hedge their money to preserve its value with time. Even the author of the book “Rich Dad Poor Dad,” Robert Kiyosaki, said that he thinks one should buy Gold, Silver, and Bitcoin.
Paul’s preference makes sense
Bitcoin’s first ETF just got approved, and it became one of the most traded ones on the day of its launch. It also broke its ATH setting a new one at $67k for the moment. Bitcoin has gained over 400% in the last 12 months, while Gold is in the negative. This makes it very clear why Paul said he prefers Bitcoin over Gold at the moment. We should also note that Paul hasn’t made these statements as the markets have recovered. He has been recommending BTC since October 2020, which shows that he believes in its fundamentals.
What are your thoughts on the interview where Paul Tudor said that he now prefers Bitcoin over Gold? And do you think that BTC is going to be far bigger than Gold? Let us know in the comments below. Also, if you found our content informative, do like and share it with your friends.
Also Read: Chainalysis adds Bitcoin to their balance sheet.