Why bitcoin is a more promising asset than gold

The Winklevoss twins believe that BTC is a better investment than gold because the supplythe precious metal will greatly increase when Elon Musk starts mining it on asteroids.

Tyler and Cameron Winklevoss became famous for their participation in litigation over a share of the creation of Facebook, and are better known in the crypto community as early investors in Bitcoin.

In a recent interview with the founder of Barstool SportsBy David Portnoy, the twins stated that Bitcoin is a better investment than gold because the supply of gold is not at all fixed, unlike Bitcoin:

«Asteroids float around planetsbillions of dollars in gold, and Elon Musk is going to go up there and start mining. This is why gold is a problem because the supply is not fixed like Bitcoin.

Thoughts @elonmusk pic.twitter.com/w4a4Mjs0Cy

- Dave Portnoy (@stoolpresidente) August 13, 2020

The tailor asked reasonably:

"Is this kind of like a real statement?" to which the founders of the Gemini cryptocurrency exchange simply answered "yes".

To further support the idea that goldinferior to Bitcoin, one of the twins said that “gold is for the boomer generation (born between 1940 and 1960),” adding that Bitcoin is “the only major asset in the entire galaxy.”

Not so distant future

Mining in space is not a new idea or as distant as it might seem at first glance.

In fact, Planetary Resources, a company founded in 2016 that plans to mine asteroids for profit, is now valued at $50.3 million, according to Crunchbase data.

At the end of 2018, this company was acquired by the blockchain firm Consensys, leading the development of the Ethereum network.

Some predict that with furtherWith the advancement of space travel technologies, we will soon be able to see a new space race between private companies that seek to extract minerals in space.

In May 2018, CNBC suggested that materials lying in the asteroid belt between Mars and Jupiter contain "wealth equivalent to about $100 billion for every person on Earth."

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