Billionaire Howard Marks: Bitcoin Has Advantages Relative To Gold

Billionaire Howard Marks: Bitcoin Has Advantages Relative To Gold

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  1. I’ve been explaining to people for many years already:

    **Bitcoin Compared to Gold**

    Gold is expensive to store securely.

    Gold is extremely expensive and slow to transport securely, especially large amounts.

    Gold is heavy, it takes up space.

    You can’t walk very far carrying a lot of gold. You can’t swim at all with more than a few coins of gold.

    Gold can be confiscated. Gold has already been confiscated by the US government.

    Highway robbers, corrupt border guards, pirates, and others can merely kill you, then take any gold you were transporting.

    Tungsten’s density is very close to that of gold. There are now gold-coated tungsten bars in circulation. It requires special equipment and know-how to detect gold-coated tungsten.

    + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + +

    Bitcoin is easy and inexpensive to store securely.

    Bitcoin is inexpensive to transport, and compared to gold, transporting Bitcoin is ‘instantaneous’.

    Bitcoin weighs nothing and takes up little, if any space.

    Bitcoin cannot be detected and can pass right through any border or airport.

    Bitcoin won’t stop refugees from walking long distances, nor from swimming across rivers.

    Bitcoin cannot be confiscated. Robbers, pirates, corrupt cops, soldiers, etc. won’t know you own any (unless you tell them), and they cannot merely kill you and take your Bitcoin.

    Bitcoin can be sent across the Internet.

    Nobody spends gold as money these days.

    People have been using Bitcoin as money, and as a store of value.

  2. tldr; Oaktree’s Howard Marks, the chairman and co-founder of Oaktree Capital Management, shared his thoughts on Bitcoin in a recent episode of the “We Study Billionaires” podcast. He said he can now understand many arguments in favor of Bitcoin, including its similarities and advantages compared to gold. “You don’t have to pay to store it, it’s not challenging to send it someplace or move it around, and you can spend it,” he added.

    *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*

  3. Marks often pontificates on markets with vague commentary. He hedges his language constantly so to never appear to be wrong. LOL

    Take his comments with a big grain of salt.

    Also, he often comments to drum up publicity for his firm. His mutual funds charge high fees.

What do you think?

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