Max Keiser continues his interview with James Turk of GoldMoney.com about bitcoin and gold to find out which asset could be considered as a hedge and why.
“Bitcoin is the currency of the future because it has proven to be an escape currency, it’s a way of getting your purchasing power into something that’s relatively safe,” says Turk.
He points out that “Bitcoin and gold are in fact complimentary to one another because the weaknesses of gold are the strength of bitcoin,” and vice versa.
“What I mean is that you can hold gold in your hand but you can’t do that with the bitcoin” but gold can be confiscated while the cryptocurrency cannot. “So, the two are really complimentary to one another, and if you feel that you need to own gold in your portfolio (and everybody should as a hedge), you might consider a cryptocurrency, like bitcoin, in your portfolio as well,” the expert says.
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