Cameron, one of the Winklevoss twins has been urging people on Twitter to jump aboard the Bitcoin rocket and not miss out due to a lack of imagination.
The Winklevoss twins charm offensive appears to have won over another business leader in ADVFN’s CEO Clem Chambers. While in an interview on the street, he argued that Bitcoin had the potential to become a more superior medium of exchange than even Gold. Chambers explained his case for Bitcoin by comparing Bitcoin’s qualities with those of Gold.
“I could not take enough gold out of the country for it to be useful to me if I had to leave the country; if I was a South Korean and I thought the North was going to drop a bomb on my city, if I was an Iranian that was running away from people in Iran”.
He added that the weight of Gold made it impossible to carry around in large amounts.
“I can’t take more than $10,000. In Gold, I can’t carry enough; it’s too heavy. I can’t take, say, 20 kilos of Gold to the airport”
Tyler Winklevoss shared Chamber’s assertion that Bitcoin had the potential of becoming a more effective store of value than precious metals than Gold. The Winklevoss twins have been pushing BTC as a commodity for a long time.
Chinese investors surely seem to have bought into this gospel since according to Yahoo finance, they have been buying up BTC in fear of a devaluation of the Yuan thanks to the recent trade war with the US.
The pro-BTC as a hedge over Gold speaks of a centuries market psychology persisting. A tweet by Mark dow reflected the fear that some had of holding most of their worth in Gold and risking not seeing any significant gains, as BTC skyrockets.
If BTC is going to replace Gold as the top hedge, it will need to be seen as a haven for safety. There are already lots of people who view crypto-currencies in general as silly investments due to their volatility and convincing those people will be a tall order.
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