Gold Can’t Compete With Bitcoin As Form Of Money

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Published on 02 Oct 2020 / In News & Politics

When it comes to recognition as “money” and a “store of value,” bitcoin outcompetes gold on its practicality and versatility, said Clem Chambers, CEO of ADVFN and author of the bestseller “101 Ways to Pick Stock Market Winners.”

“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. There are all sorts of reasons why I would want to take a lot of money abroad. 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,” Chambers told Kitco News.

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