CEO, Euro Pacific Capital Peter Schiff In response to the entrepreneur’s earlier comments about gold, he refuted Mark Cuban, saying he didn’t understand investing in precious metals.
Cubans used to call gold investors “stupid”.
Cuban says he will buy more bitcoin if the price drops
inside club random podcast Posted on December 26th, host Bill Maher touched on the long-running Bitcoin vs. Gold debate and considered the latter’s preferences.
The billionaire owner of the Dallas Mavericks responded, “I want to make bitcoin cheaper so you can buy more.” Cuban added, “If you have money, you’re an idiot.”
In the ensuing debate, Maher responded by saying that gold “never runs out” and “hedges everything.” Not to be betrayed, Cuban questioned the accuracy of the final statement.
The Shark Tank host pointed out the difference between paper gold and physical gold, saying most gold investors fall into the former category and don’t own physical bars. I was.
Additionally, gold becomes increasingly difficult to store and manage safely in a hypothetical SHTF scenario.
“Do you know what would happen if everything went to hell in the basket of your hand and you had a gold bar? Someone would beat you up or kill you and take the gold bar .”
sif gets personal
Reflecting back and forth, Schiff intervened by predicting further price crashes for major cryptocurrencies.
So he attacked Cubans for their “lack of understanding” of bitcoin and gold. I added that there is.
“rear #bitcoin hope it crashes @mcuban buy more like he said @ Burmaher he will He gives others the opportunity to sell. His lack of understanding of Bitcoin is only surpassed by his lack of understanding of Bitcoin. #MoneyHe proves that you don’t have to understand money to make money. “
Year-to-date, Bitcoin has lost 59% of its value. In contrast, gold’s year-to-date performance of +1.2% has been driven by a strong rally since November.
Some investment professionals, including the CIO of Swiss Asia Capital, Jürk Keenerwe expect gold to perform better in 2023 as macro uncertainty continues.
Keener told CNBC that gold could reach $4,000 an ounce.