Peter Schiff says Bitcoin investors made losses of 40% compared to gold over the same period

Digital currency asset management company, Grayscale Investments had launched a marketing campaign dubbed #DropGold back in May this year. The campaign advocated Bitcoin as an alternative to investing in gold. Peter Schiff, CEO of Euro Pacific Capital and Chairman of SchiffGold, was especially not too pleased with the off-the-cuff attack on gold. Known for his […]
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Source: AMB Crypto

Coping with crypto: The stages of Bitcoin acceptance

Bitcoin and the rest of the cryptocurrency market are more than an industry. For some it is a great new trend, for others, it is a channel to ‘stick it to the man’ and for the rest, it is what it is: a decentralized privacy-driven market with the aim of bettering the current financial imbalance […]
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Source: AMB Crypto

U.S Securities and Exchange Commission’s acceptance of crypto is ‘a question of when not if,’ claims Barry Silbert

Proponents of the cryptocurrency industry have been responsible for the creation of awareness within the digital asset ecosystem. One of the industry’s major advocates has been Grayscale Investments’ CEO, Barry Silbert, who was in the limelight recently owing to the organization’s DropGold campaign. In his latest interview with the Intercontinental Exchange, the CEO spoke about […]
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Source: AMB Crypto

Digital Assets Will Cause Millennials To Dump Gold For Bitcoin- Barry Silbert

Popular Bitcoin enthusiast and crypto investor, Barry Silbert, during an interview with Inside the Icehouse earlier Thursday, has expressed his opinions about world gold reserves and how Bitcoin would come to replace fiat and many other popular assets including Gold in years to come.
Barry, The Crypto King
Barry Silbert, known by some as “the crypto king” is the Founder and CEO of Grayscale Investments LLC, the parent company of Grayscale bitcoin trust.
Barry also founded and is the CEO of Digital Currency Group, a global enterprise building, supporting and investing in over 140 companies across the globe including Coinbase and Ripple.
New York Fed, World’s Gold Largest Depository
Speaking on the world’s gold reserve as a store of national value for countries and how these countries might need the bitcoin alternative in the future, the Federal Reserve Bank of New York was made a major point of reference.
For the records, the Federal Reserve Bank of New York is the largest depository of monetary gold. Sitting on around 497,000 gold bars with a total weight of 6190 tons buried 50ft below sea level, the New York Fed acts as gold custodian for account holders like the U.S. and the governments of other countries.
Gold Slowly Declining In Availability
According to the report, the history of this enormous gold city dates back to World War II when most countries sought a safe place to store their gold. As of 1937, the mass of gold present at this location was more than 12,000 tons, an amount twice as much as the present reserve. As this world gold reserve continue to decline slowly, more declination is expected to come in years. This then begged the question of what would replace this reserve when all the gold storage is out!
XAU/USD Performance
Recently, gold caught a bullish trend in the stock exchanges and this caused quite a roar as to which was better when compared to bitcoin. Several arguments were put forward along the lines of availability, volatility, acceptability and monetary value. While some bitcoin pessimists maintained that bitcoin was too volatile as a medium of exchange and therefore not a typical currency, bitcoin backers countered by arguing the security, ease of movements and returns on investments side of the story. This was on for some time.
Bitcoin’s  Adventure
Bitcoin too has been bullish for a while after its bearish season of 2018. Although not much happened as to touching its all-time high, it touched a significant $13k USD price in June, a point many thought bitcoin would never rise to again!
Bitcoin Is Readily Available With Fixed Total Supply
However, Barry’s point of view remains understandable and quite straightforward. Bitcoin is definite in supply, easy to transact, readily available and secure(as long as a user stores private keys securely). This relative properties of bitcoin to gold would account for much availability of bitcoin against gold in coming years. Also, as against gold, the total supply of the world bitcoin is certain and increasing value is highly speculated. According to Barry, this would make for a good asset useful as a store of national value in the long run.
Bitcoin Taking Over
Barry, in his opinion on bitcoin taking over fiat and even gold, said there would be no more fiat in years to come and few countries have already recognized the truth. Countries like Venezuela and China are looking into developing national cryptocurrencies in preparation for the crypto revolution. Others will follow the trend too, according to Barry.
It is clear that cryptocurrencies are here to stay as an asset class… It is clear that Money is going digital. It is clear that, in the future, physical cash is gonna go away… You know, from history over 500 years, the average life of fiat currencies is 27 years…
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Source: CoinGape

Bitcoin distancing itself from the crowd; is the Altcoin bottom in?

Bitcoin and the altcoins, dominant and the dominated. Since the Bitcoin bull-run began in early April taking the coin from $4,000 to well over $13,000 a few things have been constant. Resistance after resistance has been left in tatters, CNBC’s Bitcoin mentions have been off the charts, Pompliano’s ‘Long Bitcoin, short the bankers,’ is a […]
The post Bitcoin distancing itself from the crowd; is the Altcoin bottom in? appeared first on AMBCrypto.
Source: AMB Crypto

Facebook’s Global Coin splits community as major Bitcoin proponents speak out on busy Friday

Facebook’s jump into the cryptocurrency space was a piece of news that sent shockwaves throughout the Fintech industry. Ever since its reveal, Facebook’s Global Coin sparked a debate between its supporters and critics on whether the cryptocurrency would be a boon or a bane for the mass adoption of digital assets.
The latest supporter of Facebook’s crypto project was Grayscale Chief Executive Officer Barry Silbert, who tweeted:
“The launch of Facebook’s cryptocurrency will go down in history as THE catalyst that propelled digital assets (including bitcoin) to mass global consumer adoption. Will be remembered as just as important — and transformative — as the launch of the Netscape browser. Buckle up”
Another popular opinion shared by the community was that the emergence of the social media giant’s cryptocurrency will pose a challenge to the United States Dollar, giving customers the option to choose a commodity that is suitable for fast and safe usage. Rhythm, a popular Bitcoin and blockchain enthusiast elucidated:
“Facebook’s coin will cause everyday people to pause and begin to question the properties of the US Dollar. That alone is a benefit to not just bitcoin, but the financial system as a whole. And as we all know, once you begin to question it, all roads lead to bitcoin.”
The cryptocurrency community’s split on GlobalCoin has led to attacks on Facebook CEO Mark Zuckerberg as well, whose reputation took a hit when Facebook’s privacy leak scandal took place. This sentiment was also shared by Charlie Shrem, Bitcoin evangelist and the Founder of, who was against Facebook’s policies and GlobalCoin’s core idea. He said:
“I’m just gonna say it.
I think the “FacebookCoin” is an attempt by big tech, banks and credit card companies to lure people away from #Bitcoin into their “better, easier, crypto”, which is nothing more than a fiat coin being masqueraded as crypto.
Millions will be fooled.”
GlobalCoin was also in the news recently when Ran NeuNer, the host of CNBC’s Crypto trader called Mark Zuckerberg an ‘unelected dictator’. Although the launch date for the cryptocurrency is still under wraps, GlobalCoin has gained enough traction to force the entire cryptoverse to sit up and take notice.
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Source: AMB Crypto

Venture Capitalist: India’s Ban on Bitcoin Will Only Increase Interest in the Country

This week, a report claims that certain government departments across the country are supporting an outright ban on the “sale, purchase and issuance of all types” or crypto including Bitcoin, and could lead to a jail sentence for up to 10-years in prison for using the digital asset class as its intended.
And while the Reserve Bank of India – the country’s central reserve bank, has denied the claims of any draft bill that would see cryptocurrencies banned, given the country’s opposition to the emerging financial technology, many expect the the RBI to follow through with signing the bill into law. However, should that happen, the crypto industry’s most prominent and influential venture capitalist believes it’ll only cause the interest in Bitcoin and other cryptocurrencies in the region to increase, having an opposite effect that the bill intends to.
India Moves to Ban Crypto Outright, 10-Years in Prison For Using
According to an exclusive report from Bloomberg Quint, India has proposed up to a 10-year jail sentence for using, mining, selling, or holding cryptocurrencies. India already has strict rules governing its citizens use of the digital asset class, but this proposed bill would further tighten the government’s grasp.
Related Reading | India Still Cautious Over Crypto, RBI Shelves Plans For Own Cryptocurrency
A response from the Reserve Bank of India to blockchain lawyer Varun Sethi denies any knowledge of such a draft bill, and says it received no communication from the central government regarding it. It further states it hasn’t endorsed such a ban.
RBI avoided answering other questions posed by the lawyer, including if the draft bill could be passed without the RBI’s support.

India Banning Bitcoin Will Have Opposite of Intended Effect
Thus far, the nation hasn’t been supportive of the budding financial technology, and has taken steps that prevent the growth of the industry. However, an outright ban of crypto has thus far not been part of the discussion.
Given the RBI’s denial, the report can only be considered a rumor until the government of India issues such a bill. But if such a proposal exists, and is set into law, one prominent crypto-focused venture capitalist says that it’ll have the opposite effect India is looking for.

India ain't messing around. This will, of course, have the opposite of the desired effect on bitcoin awareness and interest in the country
— Barry Silbert (@barrysilbert) June 7, 2019

Venture capitalist and founder of Digital Currency Group Barry Silbert, who is one of the most influential names in the crypto space known for driving the industry forward, says that the ban will only cause citizens in the country to become increasingly interested in Bitcoin and other cryptocurrencies.
Related Reading | Indian Bitcoin Trader Commits Suicide Over Losses Trading Crypto for Local Officials
Bitcoin was designed to be decentralized for the sake of removing the control governments have over their citizen’s money. It’s not too surprising for some governments and banks to see the risk Bitcoin and other cryptocurrencies pose to their longevity, which is why these countries are taking steps to derail any progress the asset class makes.
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Source: New

Bitcoin Vs Gold 2.0: Only Indians and Central Banks Are Buying Gold Argues Silbert

Peter Schiff is a popular financial commentator and stockbroker in the US took center stage with the founder of Grey Scale Investments which began the #DropGold campaign, Barry Silbert. The topic of discussion of the debate at the SALT Conference 2019, was once again, the utility of gold vs. Bitcoin. Nevertheless, the event witnessed some renewed arguments with a more apparent viewpoint from both parties.
Gold is Real Money; Bitcoin is FIAT
According to Peter Schiff, Gold is real money, while everything else, the dollar, pound, etc. including Bitcoin is FIAT.
All FIAT currencies ultimately collapse. The reason that gold that store of value is you can melt in down in a 1000 years and and use that gold and use to make a computer chip. Gold does not lose any of it’s property over time.
But, Gold Has Limited Utility
Barry Silbert responded with statistics from the World Gold Council, according to which, the only about 15% of the annual demand for gold is used in computer chips and dentistry.
“Over the past nice years the use of electronics in gold… the demand has dropped by 15%, yet cellphone sales are up 500%.”
Hence, Gold has utility only in computer chips, jewelry, and dentistry.
Also Read: Bitcoin (BTC) Price Prediction 2019/2020/2025: The Future is Already Here
But, Neither Does Bitcoin
Furthermore, according to Peter Schiff, Bitcoin doesn’t have any value because it needs to be continuously mined and needs to be verified electronically. Whereas once a gold coin is forged, it stays like that for 1000 years.
“We don’t have enough energy to power the network that would be required to run Bitcoin [BTC]… In order to be money, an asset value independent than a medium of exchange.”
Barry Silbert attacked the gold’s utility and demand, which has been decreasing with time. Moreover, he predicted that the same belief system would eventually shift to Bitcoin.
“We did not grow up in a gold standard A lot has to go wrong. But, it does not take a lot for Bitcoin to out-perform Gold. Only Indians and central banks are buying gold.”
Also Read: Bitcoin [BTC] ‘Intrinsic Value’ Suggests it is More Efficient Than Gold
A Belief System is, What it is 
Peter Schiff was convinced that the days of Bitcoin [BTC] are done because the bubble has been burst at $20000/BTC, and now it is going down to zero. The rallies that we’re are currently witnessing are ‘sucker rallies.’
In his criticism, Schiff mentioned that gold is a safe haven, while Bitcoin [BTC] has green associated with it; this will be the primary reason for its value.
…The young kids who took their bar mitzvah money and now they bought a lambo, but they were lucky. And really soon its mostly gonna be stories where people lost their life savings…  And you, when you have the horror stories, outnumber those positive stories. The brand is gonna be tarnished.
Also Read: Nothing will Stop Bitcoin from Disrupting Gold – Tyler Winklevoss
Last but not least, they discussed the real value or utility of gold where they inherently agreed on the fact that the Gold prices are driven by the fact that one or the other currency is weakening.
“Gold is a hedge on all currencies weakening. Gold is money. Anything that makes it easier for central banks to create inflation bad… Gold is a luxury good that was desirable all over the world. Gold has a history of being valuable.”
Schiff was confident about the value of gold because of its history of being accepted as money. However, according to Barry Silbert, the belief system will shift from Gold to Bitcoin in due time as the younger generation takes charge.
Which side of the argument do you believe in? Please share your views with us. 
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Source: CoinGape

Bitcoin [BTC] price tide buoys Grayscale AUM over $2 billion as #DropGold campaign gathers steam

Bitcoin [BTC], often touted as the digital gold, aims to replace its tangible equivalent and is certainly doing so when portfolios are scrutinized. With Bitcoin adding over $5,000 to its price at which it began the year, investment in the top cryptocurrency is seeping away the market share of Gold, with one key player gathering steam.
Grayscale Digital Assets Fund is spearheading the campaign to convince investors on the institutional front to #DropGold and invest in Bitcoin, which is gaining momentum with every bullish BTC cycle. As Bitcoin rose above the $8,500 mark and recorded a yearly high, Grayscale’s Assets under Management [AUM] broke the $2 billion ceiling.
In a 28 May update regarding the investment firm’s holdings per share and net assets under management for both their Single Asset Products and their Diversified Products, Grayscale stated that their Total AUM valued $2.1 billion [$2.072 billion considering both single and diversified products]. Single Asset Products notched $2.05 billion while Grayscale’s Digital Large Cap Fund had an AUM of $18.4 million.
Source: Twitter
Encompassing notable top cryptocurrencies like Bitcoin, Bitcoin Cash [BCH], Ethereum [ETH], Ethereum Classic [ETC], Litecoin [LTC], Stellar Lumens [XLM], XRP, and Zcash [ZEC], Grayscale saw an average daily change of over 11 percent for the aforementioned trust.
The Digital Silver Trust, LTC, saw the highest day change of 18.35 percent owing to the August halving bulls pushing the coin over $100. Ethereum Classic, XRP and Zcash, each saw their trust’s day change soar over 13 percent, as altcoins rode the BTC bullish wave. Bitcoin Cash despite reclaiming its fourth spot on the coin ladder saw the least change among top cryptocurrencies, at 6.03 percent.
Bitcoin, unsurprisingly, has the highest AUM, at $1.97 billion, while the remaining $82 odd million is divided between the altcoins. The top altcoin in Grayscale’s offering is the ETC trust, at $41.3 million, followed by Ethereum, Zcash and Bitcoin Cash at $13 million, $11.3 million and $6.7 million respectively.
Wall Street to #DropGold?
Grayscale’s soaring portfolio coupled with the unstoppable bullish wave of the collective market, has certainly made top financial assets like Gold insecure. It’s no surprise that with Bitcoin’s tag of “digital gold,” the ousting of the commodity is an enticing prospect, and Grayscale has been ushering the same with their #DropGold campaign.
Barry Silbert, the CEO, and founder of the Digital Currency Group, the parent company of Grayscale has been at loggerheads with several influencers from the Gold camp, most notably Peter Schiff from Schiff Gold. The two have voiced their oppositions and opinions on social media, painting an interesting picture of the tussle.
To add on to the market sentiments shifting towards the crypto-sphere, thanks, in no small part, to the Grayscale’s marketing team, several top institutions are looking to #DropGold. Wells Fargo officially stated via John LaForge, the company’s Head of Real Asset Strategy, that gold is in a “dull period.”
Gold’s major selling point as a safe haven investment in a time of financial uncertainty is looking to end, as LaForge added that there are ‘better defensive assets.’ He concluded stating that “there is no interest left in [gold],” a point, quite gleefully attested by Silbert on Twitter, as Grayscale’s #DropGold campaign seems to be turning the tide on Wall Street.
Since the beginning of the year, the spot price of Gold per ounce, decreased by 0.077 percent, while Bitcoin increased by 126.3 percent.
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Source: AMB Crypto

Nothing will Stop Bitcoin from Disrupting Gold – Tyler Winklevoss

With the ongoing Bitcoin bull market, many have speculated that the cryptocurrency will soon replace gold as a store of value. Co-Founder of Gemini exchange, Tyler Winklevoss says there is no reason why Bitcoin will not disrupt the gold market.
Source: Twitter
The Bitcoin-gold struggle
Gold has been the top store of value for centuries now. Until now, it has not met any real competition but Bitcoin is about to replace it. This is what many important persons in the cryptocurrency space believe. Keiser Report Host Max Keiser earlier this month in an interview with Kitco News said although Bitcoin is relatively new, it is coming up to a level of maturity that will threaten gold.
Also in a more recent interview with Wells Fargo’s Head of Real Asset Strategy John Laforge cautioned investors against getting too comfortable investing in gold as the price is not performing as expected. According to Laforge, cryptocurrency should not affect the gold price because they are quite new and he expected gold to appreciate despite the surge in Bitcoin price.
Gold, however, has been complacent despite the volatility that has hit the market and that is not characteristic of a good store of value, he added. Although he did mention other metals such as Polonium, crypto enthusiasts still count this as a potential advantage for Bitcoin.
Also Read: Roger Ver Strikes Back at “Dropgold” Proponents, Says Bitcoin is Digital Fool’s Gold
The Dropgold Campaign
Digital Currency Group (DCG) Founder Barry Silbert has been working aggressively on his Dropgold campaign to further the adoption of Bitcoin while reducing patronage for gold. Silbert’s campaign has been quite successful, currently airing on National TV in the United States. With this in place and the skepticism coming from a major gold-friendly company like Wells Fargo, Bitcoin might really have a chance at disrupting the gold industry in the near future.
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Source: CoinGape

David Schwartz on #CraigIsSatoshi, Binance compromised and more

Crypto News – 08 April – David Schwartz on #CraigIsSatoshi, Binance compromised and more
Don’t forget to follow us for our daily videos#BinanceHack #Ripple #ripplenews @rogerkver @SatoshiLite @JoelKatz @binance #Binance #CryptoNews #cryptocurrency
— AMBCrypto (@CryptoAmb) May 8, 2019

Crypto News – 08 May
Litecoin releases LTC Core 0.17.1: According to Litecoin’s Medium page, the new release included new features, important bug-fixes, and overall performance upgrade and efficient translations
Barry Silbert on BTC and Gold: The Grayscale Investments CEO opined that Bitcoin does everything that gold used to do
New allegation against Craig Wright: According to the WizSec Bitcoin Security Specialists blog, redacted and unsealed court documents reveal that Craig Wright used a “lazy, copy-paste job” to provide a list of his early BTC addresses
Bitfinex officially release IEO whitepaper: According to the whitepaper, Bitfinex will be offering USDT in exchange for LEO tokens
Binance confirms margin trading feature: During an AMA session, Binance’s Changpeng Zhao responded to a user’s query and confirmed margin trading on Binance
Binance compromised by hackers: Hackers attacked cryptocurrency exchange, Binance, withdrawing $40 million worth BTCs and stealing several users’ API keys and 2FA codes
Roger Ver on Peter McCormack: Roger Ver targeted Peter McCormack and Eric Lombrozo during a Q&A session, claiming that the duo meticulously try to convince people from using Bitcoin to make payments
The post David Schwartz on #CraigIsSatoshi, Binance compromised and more appeared first on AMBCrypto.
Source: AMB Crypto

Bitcoin [BTC] has all the positives of gold without the downsides, says Digital Currency Group CEO

Barry Silbert, Founder and CEO of Digital Currency Group, has been a vocal advocate of Bitcoin [BTC] and the cryptocurrency market. In a recent interview with Fox Business, the Bitcoin bull touched upon the Drop Gold campaign, while focusing on the advantages that BTC possesses over gold.
Silbert stated that although the gold industry is valued at $8 trillion, it still does not have a connection with the latest generation of investors. He added,
“The younger generation of investors do not view gold in the same way as our ancestors did. They grew up with a gold standard and that is not what the economy needs right now. There is a major disconnect with the gold bodies and the central banks too. Why would you want to align yourself with Russia and China where the gold deposits go?”
The CEO added that the only way gold can have practical value is if the Dollar falls. However, Silbert also claimed that he wouldn’t bet against the United States. He stressed on Bitcoin’s benefits, emphasizing that the world’s largest cryptocurrency has utility and is much more accessible and portable than gold. According to him,
“At a 100 billion market cap, Bitcoin will only go up. It has all the benefits of gold with more upsides. Compare to the use cases of Bitcoin, gold can only be used to make nice jewelry and as a store of value. You have to change the perspective of an entire generation and that is why this campaign, which is designed to be provocative, was launched and marketed.”
Barry Silbert also spoke about the entry of tech giants like Facebook and Square into the cryptoverse, claiming that their entry will be followed by the creation of more infrastructure. He even pointed out the case of JPMorgan CEO Jamie Dimon, who agreed to creating a native token, despite being vehemently opposed to Bitcoin a year ago.
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Source: AMB Crypto

Bitcoin [BTC] does everything that gold used to do, claims Grayscale Investments CEO

Bitcoin’s [BTC] nature and advantages resulted in a lot of its proponents speaking for the world’s largest cryptocurrency. The latest luminary to speak on its behalf is Barry Silbert, Founder of Digital Currency Group and CEO of Grayscale Investments.
In a recent interview with Fox Business, the Bitcoin bull addressed the cryptocurrency’s performance and its characteristic similarities with gold. Silbert stated that Bitcoin tends to perform really well during periods of financial dislocation, like shifts in mainstream financial markets or any negative news hampering its developments. In his words,
“Bitcoin does what gold used to do. At the moment, if you look at the charts, Bitcoin is up and the tariff news from China looks to be a great setup for the cryptocurrency’s price. It may be that or maybe the drop gold movement is having an effect.”
The Grayscale CEO was also asked if Bitcoin’s current position could be considered as a fall or if it was the start of another rise. To this, Silbert stated that over the course of the past couple of months, Bitcoin had gone from $500 to all-time highs, and then all-time lows to be on a path to recovery presently. According to him,
“Bitcoin is the younger generation version of gold. It is scarce, divisible, portable and everything that one needs for fast and safe transactions. The Bitcoin community is creating a wonderful payment and rail network that will transform the currency financial ecosystem.”
During the interview, Silbert also touched upon the topic of “Why Bitcoin and not anything else?” The Digital Currency Group exec claimed that the reason why BTC stands out from the rest of the cryptocurrency market is that it is the first mover and has the biggest market cap, with the added advantage of having “a great community.”
Barry Silbert was also confident that only Bitcoin has the volume to become the sole leader of the cryptocurrency market, despite there being a lot of competition to win crypto.
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Source: AMB Crypto

Cryptocurrencies are No Replacement for Gold, World Gold Council (WGC) Backlashes #DropGold Advert

Is crypto really replace the gold.? As Grayscale’s #DropGold advert is on the rise, UK’s largest organization for the gold industry, World Gold Council (WGC) hit a new blog against #DropGold wherein its manager explained why ‘cryptocurrencies are no replacement for gold’.
#DropGold promo Ad received a number of positive responses from across the largest crypto community – some notable influencers such as Anthony Pompliano and others appreciated the idea behind advert and creative video by Grayscale team. Such a huge admiration seems a direct hit to the World Gold Council (WGC).
The whole idea of the campaign is to let investors believe in an idea that they should bid bye to gold and buy bitcoins or invest in digital currencies like bitcoin.

Today we unveiled our #DropGold TV commercial. We think it's a #MustWatch
sound ON!
— Grayscale (@GrayscaleInvest) May 1, 2019

Adam Perlaky, in his blog, posted on May 02, 2019,  entitled ‘Cryptocurrencies are no replacement for gold’, states that;
Although cryptocurrencies and blockchain technology look promising as a whole, they clearly do not represent a substitute for gold either in theory or in practice.
Mentioning about what puts gold in top spot than crypto, Mr. Perlaky explains it in the form of ‘regulation, demand, supply, and investment’. In his elaborating blog, he adds;
Gold is less volatile with having a more liquid market. As regulations around the crypto market are uncertain, he says that gold market trades occur in an established regulatory framework which makes it the best investment portfolio investors can consider over cryptocurrencies.
By disgracing Crypto over gold, he states
Extreme daily and intraday volatility disrupts its (Crypto) use as a medium of exchange and discourages strategic investments Gold’s volatility is slightly above the stock market as a whole, in line with most fiat currencies over time
Mr.Perlaky further mentioned the realized volatility of bitcoin, gold, S&P 500 and US Dollar in a graphical manner as follows;
However, he didn’t completely mark crypto in a negative way but he added the failure of crypto in 2018 as a hedge fund as a shred of evidence. Adding his views that remarks Gold over crypto, he concluded stating that we continue to acknowledge the innovation taking place; but
It is clear that cryptourreices are not a replacement for gold and gold should remain a component in all investmen portfolios.
You can read more about WGC’s report on Gold v/s crypto here
This article later got into attention of Garyscale’s Barry Silbert who quoted WGC’s tweet on and states;

What do you think is Gold better than Crypto.? or Crypto is better than Gold.? Let us know in the comment below
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Source: CoinGape

Bitcoin [BTC] is this generation’s gold and it will be a huge success, says Grayscale CEO Barry Silbert

Barry Silbert, the founder of Digital Currency Group and CEO of Grayscale Investments, spoke about the #DropGold nation-wide ad campaign launched by Grayscale, in an interview with Yahoo Finance. He also elucidated the agenda of the initiative and the reason behind comparing it to gold.
During the interview, Silbert was asked about the campaign‘s focus, whether the best way to attract new investors to invest in Bitcoin [BTC] and other digital currency was by targetting millennials. To this, he stated that one of the main objectives was to “start an honest conversation” about gold and the reasons it may not be a “great investment” in the long-run. While the other was to point the reasons behind why Bitcoin would outperform gold, “as our generation of investors inherits 10’s of trillions of dollars of the next 25 years […] it’s not going to stay in gold,” he stated. Further, the CEO remarked that all of that money would probably not go into Bitcoin, but it would be a beneficiary.
On Bitcoin being classified as digital gold, he stated,
“Bitcoin is nothing ever more than just our generation’s version of gold. It’ll be a huge success and it will deliver great benefits to society and I do think it can also be a payment rail, it can also do a lot of other things. But if it’s just another better version of an $8 trillion asset class, great!”
Silbert also spoke about the price of Bitcoin, which witnessed a significant drop throughout 2018 as it slumped from $20,000 to nearly $3000, amounting to an 80 percent drop. He said,
“Bitcoin’s been through 5 cycles now of record highs, down 80%, a record high… And our belief is you know is we’re out of that crypto winter and at what point do we hit all-time high is I don’t know, but relative to gold.”

Highlight: “We are out of that crypto winter,” says Digital Currency Group Founder and CEO @barrysilbert on cryptocurrency investments. “At what point do we hit all-time highs? — I don’t know.” Full interview:
— Yahoo Finance (@YahooFinance) May 1, 2019

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Source: AMB Crypto