Michael Saylor is addressing the idea of gold as money. Check out the post that he shared on his Twitter account here.
The idea of gold as money doesn’t stand up to a rigorous inspection based on first principles. It is a myth told by commissioned sales professionals intent on branding an industrial metal. It is a challenge to identify any fortune derived from investing in gold bullion.
— Michael Saylor⚡️ (@saylor) November 28, 2021
Peter Schiff hopped in the comments and said the following: “Well #gold has stood up as money for thousands of years. #Bitcoin has yet to stand up as money for even one year. Bitcoin is merely a digital token used for speculative trading. Also, gold doesn’t need salesmen, unlike Bitcoin that needs constant pumping!”
One person said: “Michael, you should know by now that EVERYTHING in the human financial systems is MYTH. Everything is stories that we tell each other about this and that. It’s all stories. You are selling the Bitcoin story right now. Gold is no more of a myth than Bitcoin. Yet, I own both.”
At the moment of writing this article, BTC is trading in the green and the king coin is priced at $57,257.
And here’s why gold is a worse form of money than #Bitcoin.
Money is best in token form. Linking to a physical object makes money worse, as it confuses the relationship to other goods and denies those physical items from actual uses.https://t.co/C6iQiCkK2u
— Simon Butler CFCS (@simonb03jan2009) November 28, 2021
Bitcoin vs. Amazon
Earlier today, we revealed that the hedge fund manager Anthony Scaramucci is comparing Bitcoin (BTC) to e-commerce giant Amazon.
As you probably know, Amazon has been volatile in its early days but eventually became one of the best-performing stocks.
In a new interview on CNBC’s Squawk Box, he said that Bitcoin has grown exponentially in terms of fundamentals during 2021 and that the recent correction gives investors a chance to buy at a discount.