Gold vs. Bitcoin is a debate that has heated up ever since the virtual currency took off a few years back. Crypto proponents believe that it’s time to move on from gold as the standard store of value, and Bitcoin’s is the obvious replacement. However, according to one investment mogul, the two are not directly opposed and both have their own pros. Only ignorant millennials believe that Bitcoin can replace gold as a store of value, he added.
Frank Holmes believes that gold is still the best store of value. Holmes is the CEO of U.S Global Investors, an asset management firm that specializes in investments in emerging markets and natural resources. In an interview with Kitco News, he explained why there are those that believe Bitcoin will replace gold: