Gold vs. Bitcoin

Bitcoin has been around for a little over 10 years and gold has been “around” for a little over 5,000 years. But that doesn’t mean you should buy gold over Bitcoin. This type of framing (time) is a way to manipulate you into thinking one is better than the other. 

If you do fall prey to that type of framing, you need to see it as one of your blindspots… which, by the way, is one of the blindspots of Warren Buffett, as his company Berkshire Hathaway has underperformed the S&P 500 w/div for the past 15 years. Why? He didn’t want to buy any new companies—he shunned them. And that was a mistake. But that is a post for another day.  

Gold or Bitcoin? Buy the one that is going to treat your money best. Buy the one that is trending up and to the right. Buy the one that people are wanting to buy, buying, and buying more of.  

This idea is hard because we are taught by almost everyone to play sides, to be a conservative or a liberal, to be a gold-bug or a crypto-lover, to be a ‘buy and holder’’ or a trader. This type of rigidness is what gets people into trouble. Why can’t you be both?

Investments don’t hurt people… rigidness and the stories they tell themselves about the investments they own are what hurt them. People’s stories (read: rigidness) are hurting them. 

So, why Bitcoin (crypto) and gold? Because it’s a great metaphor for what is happening today and a great way to show you how to focus more on the growth of your portfolio and not the names of the symbols you own. 

In this week’s video, I talk about how Bitcoin and gold are both attempting to do the exact same thing right now and why the outcome of this very specific action is important to anyone that owns gold or crypto (or is thinking about adding it to their portfolio).

I also talk about why gold fell so hard in 2013 and whether that same thing is going on with gold and crypto today in 2020 & 2021. 

All that and more.

0 Comments