I don’t own any real or paper gold. I’m more convinced than ever that I don’t want any. I’ll leave that for people who are ready to resign themselves to the so called “debasement trade” or, as I prefer to call it, the despair and cynicism trade.
Instead, I choose #Bitcoin #BTC. Bitcoin is the hope, optimism, and structural change trade. Others have called it the “purification trade”. Sure, I can get with that.
The move to gold is a cynical retreat from our world’s most pressing challenges. It is a giant middle finger to billions of people around the world for whom gold is an untenable asset due to security and access barriers, and its lack of portability in the face of major geopolitical uncertainty. This gold “debasement trade” is also a giant middle finger to younger generations left to reconcile the debts and downstream impacts of their predecessors. Gold will not and cannot provide these younger people the tools for renewal and rebuilding that are so urgently needed.
On the other hand, Bitcoin offers the opportunity not only to escape the impact of fiat currency debasement, but to also restructure social engagements, reformulate the incentives that drive political discourse, and build across borders and other arbitrary barriers. Bitcoin offers Gen Z and Gen Alpha not only affirmation that yes, our current economic and financial systems are fucked, but also a roadmap and tool for rebuilding.
What an ounce of gold will scarcely or never do for youth in a deprived community setting, Bitcoin can and will do.
