‘If you have gold, you’re dumb as fuck… Just get Bitcoin.’

Arguments over whether or not gold or Bitcoin (BTC) is a greater retailer of worth proceed to happen throughout the cryptocurrency house and in conventional funding circles.

On the most recent episode of Bill Maher’s Club Random podcast, which aired on Dec. 26, billionaire proprietor of the Dallas Mavericks Mark Cuban advocated for Bitcoin being a greater retailer of worth than gold. 

In response to Maher overtly admitting that he’s “rooting towards Bitcoin,” Cuban chimed in with a cheeky settlement, remarking, “I need Bitcoin to go down quite a bit additional so I can purchase some extra.” Cuban went on to supply some pleasant chastisement to Maher, saying, “If you have gold, you’re dumb as fuck,” earlier than encouraging him to “simply get Bitcoin.”

The two then mentioned the professionals and cons of each asset classes, with the billionaire stating that gold “shouldn’t be a hedge towards something,” whereas hammering house to Maher, “You don’t personal the bodily gold, do you?”

Speaking to Cointelegraph, Cuban confirmed he does certainly personal extra Bitcoin than gold, even going a step additional to confess, “Yes. I don’t personal any gold.” However, whereas Cuban advised Cointelegraph that he personally chooses to self-custody, he disagreed with the concept individuals who don’t maintain their very own cash or gold are essentially asking for bother. When it comes to soundly storing belongings of worth, he mentioned:

“It is determined by the place. If the custody host lends out the gold or crypto for any purpose, then there’s considerably extra threat. If you don’t self-custody, I’d be sure it’s a regulated entity that has required controls and liquidity minimal necessities”

Related: Russia’s largest bank issued gold-backed digital financial assets

On Oct. 25, Cointelegraph reported that Bitcoin’s growing correlations with gold, the S&P 500 and the Nasdaq 100 indicated {that a} rising variety of buyers see BTC as a “relative secure haven.” 

According to digital strategists on the Bank of America, the rise within the correlation between Bitcoin and gold is likely one of the main indicators demonstrating buyers’ confidence in BTC amid the continuing financial downturn.