While Bitcoin (BTC) saw less of a surge than gold, gold broke consecutive records. The price of an ounce of gold rose above $4,000, attracting investors.
At this point, while investors were switching from Bitcoin to gold due to the fear of missing out on the rise, the famous name said that this was a big mistake.
Speaking to Decrypt, renowned American author and real estate millionaire Grant Cardone said that selling Bitcoin to buy gold was a million-dollar mistake.
Grant Cardone, who warned against selling Bitcoin to invest in gold, emphasized Bitcoin’s programmed scarcity and long-term value proposition as superior to gold.
Cardone, who includes Bitcoin in his real estate funds, advises investors to hold their BTC rather than converting it into gold.
The famous name stated that he sees Bitcoin as a superior store of value compared to the precious metal gold.
While acknowledging that the price of gold has risen more than 50% this year and has a positive long-term outlook, Cardone said it would be foolish for Bitcoin investors to be influenced by this rise. He added that Bitcoin remains a superior store of value and has better long-term prospects.
Cardone emphasized that for every Bitcoin sold to buy gold, each investor risks a potential loss of one million dollars.
Investment firm VanEck also predicted this week that Bitcoin could capture half of gold’s $26 trillion market capitalization, but noted that it could take several years. Meanwhile, Bitcoin’s value is currently at $2.4 trillion, up from $1.2 trillion a year ago.
*This is not investment advice.
Source: https://en.bitcoinsistemi.com/american-millionaire-addresses-investors-who-sell-bitcoin-and-buy-gold-dont-be-stupid/
