Peter Schiff: Don’t Believe Golden Asteroid Story, Bitcoin (BTC) Inferior

Bitcoin, The Best Store of Value?

For the longest time, Bitcoin pioneers have been pushing the cryptocurrency as an alternative to the United States Dollar and other fiat monies.

While many technologists and prominent investors, even Elon Musk, have agreed to the sentiment that cryptocurrencies are the future, a world in which government-issued paper money is entirely abolished is likely still a quixotic dream.

Thus, for the short term, most proponents of Bitcoin have focused on the asset’s viability as an alternative to gold, the de-facto “store of value of store of values” for millennia. This camp recently got validation of its beliefs with news that NASA has located and targeted a gold-rich celestial object.

For those unaware, last month, British paper The Sun revealed that NASA, the world’s foremost agency on space and off-Earth expeditions, has been eyeing an asteroid known as Pysche 16. Save for the fact that it is one of the largest beings in the asteroid belt between Mars and Jupiter, it may not ring any bells. But according to new reports, the icy rock, which is a little over 200 kilometers in diameter, is filled to the brim with gold, platinum, iron, and nickel — elements essential in many Earthly devices.

It has been estimated that the celestial object has various metals valued at over $8,000 quadrillion if mined in their entirety, a sum which is obviously hard to comprehend. Read More at EWN...

#Gold #BTC

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