Don’t be Stupid: Why Grant Cardone Says Bitcoiners Shouldn’t Chase Gold’s Historic Rally
Grant Cardone, a real estate investor, cautions Bitcoiners against chasing the recent surge in gold prices, which have risen over 50% this year. He believes Bitcoin is a more valuable and superior store of wealth compared to gold. Cardone argues that while investors might be tempted to invest in gold due to its record price, they would be better off holding onto their Bitcoin, which has a total supply cap of 21 million coins. He suggests that advancements in automation may increase gold supply and diminish its scarcity, unlike Bitcoin. Cardone further critiques investments in gold-backed ETFs, stating that true ownership requires managing physical custody. In contrast, Bitcoin offers ease of use and storage. Despite his preference for Bitcoin, other investors like Ray Dalio advocate for a mixed approach between gold and Bitcoin, highlighting ongoing debates about the future of these assets amid rising economic uncertainties and government debt.
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