A senior White House official has hinted at the possibility of the U.S. utilizing its gold reserves to acquire more Bitcoin (CRYPTO: BTC). What Happened: Bo Hines, the executive director of the President’s Council of Advisers on Digital Assets, ...
The difference is gold has carried high monetary value among human societies for nearly 3000 years while Bitcoin is a non tangible digital asset that’s existed for less than two decades and remains incredibly volatile.
This comes across as another Trump scam. He’s going to bankrupt the American government by siphoning public money to himself and other private entities and the American people are going to be stuck hodling the bag.
That, and gold actually has properties that make it useful, like not oxidizing and being a good conductor. It still has value even if it was otherwise worthless as a currency
The difference is gold has carried high monetary value among human societies for nearly 3000 years while Bitcoin is a non tangible digital asset that’s existed for less than two decades and remains incredibly volatile.
This comes across as another Trump scam. He’s going to bankrupt the American government by siphoning public money to himself and other private entities and the American people are going to be stuck hodling the bag.
That, and gold actually has properties that make it useful, like not oxidizing and being a good conductor. It still has value even if it was otherwise worthless as a currency
If bitcoin was otherwise worthless as a currency, then it would still be useful for secure time stamps.
I guarantee his family and “friends” already own a lot of BTC.