Frank Holmes, CEO of investment management firm US Global Investors, has said Bitcoin’s decentralized nature is the main reason why the cryptocurrency has beat gold in terms of attracting investors, especially institutions.
Speaking to Kitco News, Holmes noted that Bitcoin also has an edge over gold because it’s a private property and portable.
He states that gold had similar features to Bitcoin, further suggesting that digital currency has become a store of value.
“But why are they buying Bitcoin? Because as decentralized, right? The other reason is private property. What’s the other reason because it’s private property and portable, but it’s very important. So it was gold. Okay. So, where are they buying gold? Why, what’s going on here? How come gold investors, in particular, these companies are, they’re not pulling their gold,” said Holmes.
Holmes further noted that Bitcoin resonates well with most investors, especially the young.
