Crypto CEO to Preach Bitcoin at Gold Mining Investor Conference
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The next bout in the ongoing Bitcoin versus gold debate looks set to take place on the home-court of advocates of the shiny precious metal. A CEO from a crypto asset investment firm will be speaking later this month at a large event held for those wanting to invest in the traditional mining industry.
The drawing of similarities between the two asset classes is nothing new. However, recent efforts byGrayscale Investmentshave intensified thedebateover which is better suited as a store of value.
The worlds most popular crypto asset by market capitalisation will be represented this year at the third annualMining Investment Europeevent held in Frankfurt,Germanylater this month. Whereas the event typically focuses on global investment opportunities related to the traditional mining industry, this year, crypto will have a platform too.
Swinging for Bitcoins corner will be Patrick Lowry, the CEO and Managing Partner of Iconic Holding, a crypto asset management firm that was founded in early 2017 and is apparently the worlds first decentralized venture capital group. Previously, Lowry was an auditor at PwC and has experience in venture capital investments and private equity.
According to a Twitter post, from a division of Iconic Holding, Lowrys presentation will be titled Why Bitcoin is the New Digital Gold.
Join our CEO Patrick opening keynote WhyBitcoinIs The New Digital Gold at the Mining Investment Europe kfurt, 16th-18th June!
Joining Lowry over the course of the weekend of the 18thto the 19thof June will be names moretypicalfor a precious metals and resource mining investor conference. Representatives from the World Gold Council, the Swiss Mining Club, the Australian Government, and other companies and institutions focused on mining investments will be joining Lowry to present at the event.
Recently the debate between gold bugs and crypto fanatics over whether Bitcoin or gold is a better store of value has stepped up a notch making Lowrys appearance all the more relevant. Grayscale Investments has been running an advertising campaign using the hashtag DropGold to try to turn investors onto the emerging asset class. The crypto asset fund is hoping to convince gold bugs take up positions in Bitcoin since it offers many advantages over the traditional store of value asset its portable, easy to store, easy to transact with, and completely uncorrelated to any other market.
The main reasoning behind the argument that Bitcoin is a more efficient version of gold for the digital age is down to its entirely known and regular supply. Gold has long been favoured as a suitable form of money due to its relative natural scarcity and how difficult it is to counterfeit. However, there is theoretically no limit to the amount of gold in the universe and advances in technology will certainly mean that human can mine deeper and explore further into the solar system in the coming years. Finding a huge amount of gold, like the vast quantities known about out of reach of current mining tech, would crash the market instantly.
Meanwhile, Bitcoins supply is one of the rules of its network and these rules are enforced by the most powerful network of computers ever. It is this fact that has so many Austrian economists excited about the assets future. Hopefully, withGrayscaleand Lowrys help, a few more gold bugs will get onside too.
Related Reading:This Prominent Investor Sees Bitcoin Surpassing Gold as a Store of Value
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